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.
- 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
Originally Posted on: https://www.coindesk.com/business/2021/09/27/cardanos-commercial-arm-to-invest-100m-in-defi-nfts-and-blockchain-education/
By: Sebastian Sinclair