Cardano’s Commercial Arm to Invest $100M in DeFi, NFTs and Blockchain Education
Finance
www.coindesk.com
27 September 2021 04:07, UTC
Reading time: ~2 m
Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token solutions and blockchain education efforts for the world’s fourth-largest blockchain.
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Announced during the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama said the investment would “accelerate the development of the Cardano ecosystem.”
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“We will create a dedicated operation from 2022,” said Kodama in a tweet following the announcement on Sunday.
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Emurgo is one of the founding entities of Cardano and provides solutions for developers, companies, and government.
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The investment arm also announced Sunday it would be pouring additional funding into African artificial intelligence, blockchain, and smart technologies firm Adanian Labs.
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