Cardano (ADA) Receives $100 Million Investment for DeFi and NFT through EMURGO

EMURGO, the commercial arm of Cardano (ADA), will invest no less than $100 million in the Cardano ecosystem. The blockchain company announced this on September 27:

EMURGO launches a new $100 million investment vehicle for Cardano. The amount is intended for startups and emerging companies building on the Cardano ecosystem, especially decentralized finance (DeFi) and non-fungible token (NFT) projects.

The investment vehicle consists of two separate entities. EMURGO Africa focuses on supporting around three hundred start-ups in Africa. EMURGO Ventures is aimed at the more developed markets and invests in decentralized applications (dApps) in addition to DeFi and NFT projects.

“We are more focused than ever on accelerating the development of Cardano’s ecosystem with a rich mix of decentralized services targeting a global community increasingly familiar with blockchain. EMURGO is committed to meeting this demand by providing the capital and strategic resources necessary for our partner companies to rapidly scale and bring new solutions to Cardano.”

Said EMURGO CEO Ken Kodama. Charles Hoskinson, CEO of Input Output Hong Kong (IOHK) and founder of Cardano, said:

“EMURGO’s investments will help shape the future of the Cardano ecosystem, a maturing network with a creative and diverse community, growing smart contracts capabilities and partnerships around the world delivering social and financial services using Cardano’s proven secure technology. .”

Recently smart contracts features introduced on Cardano via the ‘Alonzo’ update. This makes it possible to run dApps and DeFi projects on the blockchain network and is the reason why Cardano now wants to attract this market. EMURGO recently launched a new company that will develop a DeFi project for Cardano.

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