NewsSep 28

Cardano Secures $100 Million In Funding from Emurgo For DeFi And NFT Projects

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Cardano Secures $100 Million In Funding from Emurgo

Summary

  • Emurgo has announced its plans to contribute $100 million to Cardano
  • Funds to support startups in NFT and DeFi within Cardano
  • Emurgo aims to accelerate Cardano development

Emurgo, Cardano’s commercial arm, has announced its plans to contribute $100 million in funding towards Cardano’s DeFi And NFT startups. This update was announced during Cardano’s Summit 2021 that took place over the weekend.

Under this new initiative, the funds will be allocated towards emerging projects in the Cardano ecosystem to support the development of the platform. The firm is interested in offering support to startups in the NFT and DeFi sectors within Cardano. It also plans to launch Cardano-centric digital investment programs.

During the announcement, Emurgo founder and CEO Ken Kodama, noted that the firm’s aim is to accelerate Cardano's development. This will be one of the many projects Emurgo supports on the Cardano ecosystem, including Milkomeda, an EVM-compatible sidechain.

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