Key Takeaways:
- Between September 2021 and June 2022, the 40 corporations spent about $6 billion on blockchain startups, according to Block data.
- The South Korean company Samsung is now the most engaged among the top 40 firms thanks to its investments in 13 crypto/blockchain businesses.
In order to identify the main use cases they are supporting and which new banks have entered the market over the past 10 months, Blockdata research recently conducted an analysis of the top 100 banks investing in blockchain and cryptocurrency (ranked by assets under management, AUM).
In order to determine what has changed, which blockchain applications are currently in demand, and which new entrants are investing today in response to market volatility, researchers reexamined the blockchain investment activity of the top 100 public businesses (ranked by market capitalization).
They examined the blockchain investments made by these leading firms between September 2021 and mid-June 2022 in this report.
Samsung, a South Korean electronics giant, was the most active investor, having invested in 13 startups between September 2021 and mid-June 2022, according to research firm Blockdata’s review of investments in blockchain and cryptocurrency businesses by leading corporations.
Following closely after United Overseas Bank, which made investments in seven businesses, are two of the biggest names in American finance: Citigroup (6) and Goldman Sachs (5).
However, when it comes to top companies that took part in the largest investment rounds, Alphabet, the parent company of Google, comes out on top.
As these firms participate in investment rounds with many or many other investors, it is typically impossible to ascertain how much capital they have invested.
Without a question, Samsung has received a lot of attention recently in the cryptocurrency community. The inclusion of a new wallet feature that would enable users to store digital documents and, purportedly, bitcoin was announced with Samsung’s most recent flagship smartphone.
Samsung’s latest plan to open a Bitcoin and cryptocurrency exchange in South Korea by 2023 has also garnered a lot of debate and discourse about the company’s expansion in the blockchain space.
Which possible use cases are the leading corporations funding?
Over the course of 71 investment rounds, 61 blockchain/crypto firms in total received funding. These blockchain businesses operate in more than 20 different industries and 65 different use cases:
Non-fungible tokens (NFT) solutions and services are provided by nineteen different businesses. Numerous of these come from sectors like distributed ledger technology, arts and entertainment, and gaming (DLT).
There are 12 marketplaces in all, some of which facilitate the exchange of NFTs.
Eleven businesses offer gaming services. The businesses that provide NFT solutions, marketplaces, and gaming have a lot of use cases in common.
The investment trend over time shows that established firms (Samsung, Microsoft, etc.) are already supportive of the blockchain industry.
Finding innovative businesses and portfolios that contribute to the expansion and consolidation of their core businesses is now necessary.
Corporations, like banks, could wish to turn their attention away from trends that stand alone and toward markets that can help them experience combinatorial growth.
