Emurgo has announced it will contribute $100 million to a fund focused on DeFi, NFTs, and education for the Cardano blockchain.
Emurgo, the commercial arm of Cardano, will invest $100 million to finance crypto startups on the blockchain.
The firm announced the update at Cardano Summit 2021. Under the initiative, Emurgo will allocate capital towards growing Cardano’s ecosystem. The firm will focus on supporting startups working in DeFi and NFTs, and launch Cardano-centric education programs.
Discussing the investment, Emurgo founder and CEO Ken Kodama said that the firm was aiming to “accelerate the development of the Cardano ecosystem.”