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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.
Updated May 11, 2023, 4:12 p.m. Published Sep 27, 2021, 4:38 a.m.
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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