Alphabet, Google's parent company, is betting on Web3

Alphabet, Google's parent company, ranks first in terms of investments in Web3 and blockchain companies.

In a recent publication in the Blockdata website It has been revealed that Alphabet, Google's parent company, has invested 1.586 million dollarss in Web3 and blockchain companies, becoming the company that has invested the most in this sector, ahead of Blackrock, Morgan Stanley, Samsung and Goldman Sachs.

Although Alphabet leads the group of companies that have invested the most money in the sector, the most active in terms of number of investments is Samsung, which has invested in 13 companies, for a total of 979 million dollars. For its part, Google's parent company has only invested in four companies in total.

In February, Sundar Pichai, CEO of Alphabet, already explained that the company is interested in blockchain and Web3 technologies, analyzing the main developments in the sector and looking for ways to implement them in Google and other company products. In this sense, the CEO also explained that, for the moment, they were not interested in creating a work team for blockchain projects, but rather preferred to invest in startups and studies that are already dedicated to the development of this type of projects.

What use cases attract the attention of large companies?

Of the companies in which Alphabet and other large traditional firms have invested, 19 of them are focused on the development of services and solutions for NFTs. Twelve of these companies are developing NFT marketplaces and 11 are dedicated to blockchain and metaverse games.

Although companies dedicated to NFTs are the popular ones when it comes to investing, Alphabet and the rest of the companies on the list have also invested in projects that offer blockchain services such as ConsenSys, Web3 infrastructure developers and companies developing tokenization platforms, smart contracts and custody services.

In the case of Google's parent company, its investment profile is smaller and they have focused on those companies that offer complementary services to yours. An example of this would be your investment in fireblocks, a company that offers multi-platform computing (MPC) services, focused on protect privacy, allowing multiple parties to cryptographically access accounts without revealing the entries.

Alphabet has also invested money in Dapper labs, a company focused on the development of NFT games, with NBA Top Shot being the best known, as well as Voltage, responsible for the Bitcoin layer 2 solution, Lighting Network.

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