EMURGO to Invest $100M in Development of DeFi and NFT in the Cardano Ecosystem

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Emurgo, the venture and commercial division of the Cardano project, plans to invest $100 million in the development of the decentralized finance (DeFi) sector, non-fungible token (NFT) solutions and educational blockchain programs, as stated by the head of the company Ken Kodama.

He says that the investments are intended to “accelerate the development of the Cardano ecosystem.”

In 2022, the company is expected to spin off this business as a separate business, Kodama has added.

During the Cardano Summit 2021 event, the company announced additional investments in African incubator Adanian Labs, which supports startups developing solutions based on the project’s blockchain.

Cardano founder Charles Hoskinson has announced a partnership with tv and satellite broadcaster Dish Network. The collaboration involves the integration of Dish blockchain technology and assistance in the provision of digital identity services for the telecommunications company’s customers.