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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.