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Finance

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.

By Sebastian Sinclair
AccessTimeIconSep 27, 2021 at 4:38 a.m. UTC
Updated May 11, 2023 at 4:12 p.m. UTC
(Jelleke Vanooteghem on Unsplash)

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.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Sebastian Sinclair
    Sebastian Sinclair

    Sebastian Sinclair is a CoinDesk news reporter based in Australia.

    Follow @Sebsinclair1989 on Twitter