While crypto is in a bear market, the underlying technology still remains extremely bullish. In fact, investors cannot seem to get enough of the Web3.0 pie.
Alphabet, the parent company of google, is one of them. As one of the most active corporate investors, it does hundreds of deals every year.
One of the sectors that they have naturally taken an interest in is the blockchain, specifically those that improve user experience.
This includes companies like
- Fireblocks – digital asset custody service
- Dapper Labs – Metaverse Company (Creator of Cryptokitties, NBA Top Shot)
- Voltage – Bitcoin & Lightning Network Infrastructure
- Digital Currency Group – Venture Capital
“We are definitely looking at blockchain, it’s such an interesting and powerful technology with broad applications” said Alphabet CEO Sundar Pichai.
The Road To Blockchain
Alphabet is not the only company investing in Web3.0.
Major institutions like Blackrock, Morgan Stanley, and Tencent are making moves into crypto.
As of July 2022, more than $29 Billion was raised by cryptocurrency-related companies, as reported by Finbold.
This also includes individual investors, such as Shark Tank starts Mark Cuban and Kevin O’ Leary, who have a sizeable portion of their net worth in the space.
Centralized institutions are also entering the crypto ecosystem, with banks taking loans from DeFi platforms.
Despite the current climate and CeFi meltdown, it seems that the wheels are still spinning for adoption.
Also Read: How Iran and Taiwan Are Using Crypto To Bypass Sanctions, Thwart Attacks
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: ChainDebrief