Samsung has been named the most active investor in cryptocurrency and blockchain startups.
Between September 2021 and mid-June 2022, Samsung has invested in 13 crypto/blockchain companies, making South Korean companies the most active of the top 40 companies. Meanwhile, Google’s parent company, Alphabet, tops the category of top companies that participated in the largest funding round.
40 companies invested $6 billion
South Korean electronics giant Samsung has invested in 13 companies, according to an analysis by Blockdata, a research firm, on investments in blockchain and cryptocurrency startups by top companies from September 2021 to mid-June 2022. , was the most active. United Overseas Bank, which has invested in seven companies, is the next most active, followed closely by two US financial services giants Citigroup (6) and Goldman Sachs (5).
As the analysis shows, the number of cryptocurrency or blockchain startups funded by Samsung, United Overseas Bank, Citigroup and Goldman Sachs outnumbered the total number of startups that raised funding during the period covered (65). is almost half of (31). Top 40 companies.
Data on the exact amount invested by each company is not available, but Blockdata’s analysis provides an estimate of the amount invested by all companies.
“Between September 2021 and June 2022, 40 companies have invested around $6 billion in blockchain startups. It is unknown how much we have invested in,” reads Blockdata’s research report.
Meanwhile, when it comes to companies actively participating in the largest funding round, Google’s parent company, Alphabet, tops the category after participating in a round that raised just under $1.51 billion. Blackrock participated in his three funding rounds, raising $1.17 billion and he was second.
American financial services giant Morgan Stanley was third with $1.1 billion in two rounds, while Samsung was fourth with $979 million.
Companies invest in NFT companies
Regarding the use cases top companies are interested in, Blockdata determined that 19 of the companies that received funding were in “some form of non-fungible token (NFT) solutions and services.” 12 are marketplaces and 11 are in the business of providing game services.
Describing different investment approaches by top companies, the research firm said:
Samsung is betting across the blockchain ecosystem investing in companies focused on 15 different use cases, including blockchain services, development platforms, NFTs and social networks. Alphabet and Blackrock, on the other hand, demonstrate a completely different strategy of betting heavily on a small number of companies.
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Terence Zimwara is an award-winning journalist, author and writer from Zimbabwe. He has written extensively on the economic problems of several African countries and how digital currencies can provide an escape route for Africans.