The Block and Coinbase examine web3 investment and product innovation trends across the largest U.S. companies

The Block’s research team worked with Coinbase to uncover the trends in crypto and blockchain investment and product initiatives across the largest U.S. companies and well-known consumer brands. The research informed a new report that Coinbase published on June 22 called The State of Crypto: Corporate Adoption.

To inform the report, The Block Research team collected, organized, and analyzed a range of primary sources, such as, on-chain data, corporate announcements, earnings calls, and patent filings to understand the nature and size of crypto and blockchain investments, projects, and ventures undertaken by Fortune 100 companies and large consumer brands since 2020.

Here are some of the most compelling insights we discovered while examining the investments and innovations the most successful U.S. companies have made in crypto and blockchain.

• More than half—52%—of the Fortune 100 have pursued crypto, blockchain or web3 initiatives since the start of 2020. About 60% of Fortune 100 initiatives reported since the start of 2022 have been either in the pre-launch stage or already launched.

• Companies in tech, financial services, and retail have led web3 adoption since 2020. In the first half of '23, growth in retail adoption has compensated for the drop-off seen by financial services firms.

• Crypto financial services and enterprise solutions such as B2B blockchain-related services are the most commonly invested categories, representing more than 50% of all deals.
• Citi Ventures, Google Ventures, Microsoft Ventures and Goldman Sachs have made as many crypto private investments as all other Fortune 100 companies combined.

• NFTs are behind retail’s recent surge in web3 initiatives, and they're generating revenue. The largest consumer brands accumulated royalty revenue totalling approximately $101.3 million from more than 118K consumers.

There's a lot more to discover in the full report, which you can download here.

If you would like a deeper dive into the insight contributed by The Block Research, or have questions about our research on web3, crypto, digital assets, blockchain and related topics, please contact [email protected]