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

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Emurgo, the business and enterprise arm of Cardano, is investing $100 million to enhance decentralized finance (DeFi), non-fungible token options and blockchain training efforts for the world’s fourth-largest blockchain.

  • Announced through the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama mentioned the funding would “accelerate the development of the Cardano ecosystem.”
  • “We will create a dedicated operation from 2022,” mentioned Kodama in a tweet following the announcement on Sunday.
  • Emurgo is without doubt one of the founding entities of Cardano and supplies options for builders, corporations, and authorities.
  • The funding arm additionally announced Sunday it will be pouring extra funding into African synthetic intelligence, blockchain, and sensible applied sciences agency Adanian Labs.

Read extra: Cardano’s Charles Hoskinson Donates $20M to Build Math Center at Carnegie Mellon University