$GOOG $META etc Investing Big $ in Blockchain

Gizmondo headline: Google’s Investments in Blockchain Companies Helped Generate More than $1.5 Billion in Funding

Sub-headline: A new report shows that major tech firms have made head-scratching investments into some blockchain companies, some of which are hurting after the recent crash.


Blockdata, a crypto research firm, released an updated blog post Tuesday showing who’s been the most active investors in the crypto scene from September 2021 through June 2022. Researchers noted big tech firms including the likes of Tencent, Microsoft, PayPal, Samsung, and Alphabet (Google) are putting big money into crypto companies and startups.


Google took issue with how the report was structured, saying that the numbers were inaccurate since they only pointed to the total size of the individual funding rounds, rather than Google’s contribution in each round. In an email statement, a Google spokesperson said: “As the report says, while the small number of Blockchain related companies we’ve invested in have raised $1.5b in total, we have only invested a small fraction of that ourselves.”

So even if Google’s full contributions are less than the report likes to conflate, they are still investing in Blockchain tech. Some of the company’s overall funds went to the likes of Dapper Labs, the company that was behind the NBA’s Top Shot and UFC Strike licensed video NFTs. The company was also behind CryptoKitties, a NFT-based game that’s seen the price of its products tank. Dapper said they are meshing their own Flow blockchain systems with their Google cloud infrastructure.