EMURGO to invest $100 million in DeFi and NFT development within the Cardano ecosystem.

EMURGO, the venture and commercial arm of the Cardano project, is investing $100 million in the development of the decentralized finance (DeFi) sector, non-fungible token (NFT) solutions, and educational blockchain programs. This was announced by the company’s head, Ken Kodama.

📣Just announced 🎉 EMURGO to invest $100M in @Cardano ecosystem to accelerate #DeFi, #NFT solutions and #blockchain education! — EMURGO CEO, @KenKodama_Biz @emurgo_io#CardanoSummit2021 $ADA pic.twitter.com/Gx4fbw556x

— EMURGO (@emurgo_io) September 26, 2021

According to him, the investments are aimed at accelerating the development of the Cardano ecosystem.

In 2022 the firm will spin this line of business off into a separate unit, Kodama added.

During Cardano Summit 2021 the company announced additional investments in the African incubator Adanian Labs, supporting startups building blockchain-based solutions on the project’s network.

As announced at #CardanoSummit2021, EMURGO Africa has invested in https://t.co/0G3eJpqyfC — a pan African tech venture studio that incubates impact driven startups across #Africa building on #Cardano.

Learn more at their meetup on Oct. 1st!https://t.co/U8ALgvYub5$ADA

— EMURGO (@emurgo_io) September 26, 2021

Founder Charles Hoskinson announced a partnership with Dish Network, a provider of television and satellite broadcasting. The collaboration envisions integrating Dish’s blockchain technology and helping deliver digital identity services for the telecom operator’s customers.

Here’s the Dish/Boost announcement: https://t.co/bzk35RbcaM

— Charles Hoskinson (@IOHK_Charles) September 25, 2021

The COTI platform will be the official issuer of the new algorithmic stablecoin Djed on the Cardano network. This was announced during the event by its head Shahaf Bar-Geffen and Hoskinson.

The coin is designed to pay transaction fees.

At the #CardanoSummit2021 stage in Laramie, Wyoming @IOHK_Charles & @shahafbg announced that @COTInetwork would be the official issuer of #Djed, a new stablecoin for #Cardano https://t.co/ifm9S6WAz6

— Input Output (@InputOutputHK) September 26, 2021

IOHK activated the Alonzo update, which enabled the deployment of smart contracts on the Cardano mainnet in September 2021.

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