Cardano’s Commercial Arm to Invest $100M in DeFi, NFTs and Blockchain Education

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