DeFi and NFT in Cardano ecosystem invest $100m

DeFi and NFT in Cardano ecosystem invest $100m

Emurgo, the venture capital and commercial arm of Cardano, is investing $100m in the decentralised finance (DeFi) sector, non-exchangeable token (NFT) solutions and blockchain education software. This was announced by the company's head Ken Kodama.

The investment is designed to "accelerate the development of the Cardano ecosystem", he said.

The firm will spin it off as a separate business in 2022, Kodama added.

During the Cardano Summit 2021 event, the company announced additional investment in African incubator Adanian Labs, which supports startups that develop blockchain-based project solutions.

Cardano founder Charles Hoskinson has announced a partnership with TV and satellite provider Dish Network. The collaboration involves Dish integrating blockchain technology and helping to provide digital identity services to the telco's customers.

The COTI platform will become the official issuer of the new algorithmic Stablecoin Djed on the Cardano network. The announcement was made by its head Shahaf Bar-Geffen and Hoskinson during the event.

The coin is designed to pay transaction fees.

IOHK, the firm behind Cardano's development, announced it is joining forces with Oasis Pro to develop an alternative blockchain trading system designed to facilitate access to the primary bond markets of developing countries.

IOHK has also announced a partnership with Chainlink. The aim of the partnership is to help Cardano developers create smart contracts for DeFi applications.

As a reminder, IOHK has activated the Alonzo, which enabled the deployment of smart contracts on Cardano's core network, in September 2021.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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