Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token solutions and blockchain education efforts for the worlds 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.