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Cardano’s Commercial Arm to Invest $100M in DeFi, NFTs and Blockchain Education
A “dedicated” operation will commence next year to further DeFi, NFT solutions and blockchain education efforts.
Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token (NFT) products and blockchain education efforts for the world’s fourth-largest blockchain.
- Announced during the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama said the investment would “accelerate the development of the Cardano ecosystem.”
- “We will create a dedicated operation from 2022,” said Kodama in a tweet following the announcement on Sunday.
- Emurgo is one of the founding entities of Cardano and provides solutions for developers, companies, and government.
- The investment arm also announced Sunday it would be pouring additional funding into African artificial intelligence, blockchain and smart technologies firm Adanian Labs.
Read more: Cardano’s Charles Hoskinson Donates $20M to Build Math Center at Carnegie Mellon University
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Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
