Betting on blockchain and crypto assets is proving increasingly fruitful for French companies. This is what emerged from the latest “blockchain and crypto” study by PwC, which was revealed by le Figaro. And for good reason: 61% of French companies that have invested in blockchain and crypto assets have made profits in 2021. “It is no longer about a few projects with moderate resources but rather about the crypto tidal wave covering traditional companies and pure players”note the study authors.
In this context, more and more French companies are considering joining forces, or even buying a pure player industry over the next three years. 28% of large corporations or ETIs are now considering this option, while the advent of NFTs, these certifications of credibility that make it possible to customize a digital object, have increased tenfold uses around the blockchain in recent months.
In fact, while blockchain has already been used by large groups for several years, particularly in relation to product traceability in the food industry, anti-counterfeiting in the luxury industry or even data protection in the health and energy sectors, new horizons are opening up with NFTs and the metaverse, this A parallel world destined to become a true digital alternative to the physical world. Games, entertainment, culture, education, shopping and advertising are all possible uses of this universe that promises to erase the boundaries between the real and virtual worlds.
Blockchain project budgets are on the rise
In this context, corporate appetite has increased tenfold, with 56% of companies developing a blockchain project in France planning to increase their budgets next year, according to a PwC study. In France, the startup Sorare that mingles fantasy football And Blockchain, the largest fundraising campaign in French Tech’s history in September 2021 with a Series B of $680 million, while Ledger, a company focused on securing cryptocurrency wallets, raised $380 million in June 2021.
The two companies, which have joined the French rhino circle, are among the pioneers of the blockchain ecosystem in France. Sorare and Ledger also appear among fifty French digital players who have decided to join forces to create the NFT Factory. A 400 square meter venue will be a showcase for the French NFT ecosystem in Paris.
The impact on the environment is taken into account by one of two companies
However, the growing interest in blockchain does not prevent French companies in the sector from worrying about the environmental impact of the resulting technologies. Thus the PwC study highlights that 50% of French companies using blockchain believe that the cost of their energy is a defined standard, compared to 21% worldwide. In this sense, the Tezos blockchain may emerge as a reliable alternative to Ethereum, the most widely used in the world to date. The Tezos protocol is characterized by low power consumption, which has particularly attracted companies such as BNP Paribas, Société Générale, EDF and Ubisoft.
In addition to companies, individuals are also increasingly interested in blockchain and crypto assets. Nearly one in 10 French people have already invested in cryptocurrency, according to a study conducted by KPMG for Adan, the association representing professionals in the digital asset and blockchain technology sector in France. Unsurprisingly, Bitcoin is the most popular with French investors, at 49%, ahead of Ether (29%)… and Bitcoin Cash (28%)!