Cardano to boost DeFi and NFT development with $100 million investment

Cardano wants to boost the development of DeFi and NFTs on the blockchain.

Emurgo invests $100 million in NFT, DeFi and Cardano blockchain education

Emurgo, the commercial and venture arm of Cardano, revealed during the weekend that it would invest $100 million into the blockchain. The funds would be used to enhance various aspects of the Cardano ecosystem.

According to Emurgo, the funds would be used to boost the development of decentralized finance (DeFi) and non-fungible token (NFT) solutions on the Cardano blockchain. Furthermore, part of the funds has been earmarked to invest in blockchain education efforts for the Cardano ecosystem.

Emurgo CEO Ken Kodama announced this latest development at the Cardano Summit 2021 on Sunday. He stated that the investment would “accelerate the development of the Cardano ecosystem. We will create a dedicated operation from 2022.”

We will carry out an investment of 100 million dollars to accelerate the development of the Cardano ecosystem.

Please contact us if you would like to receive investment funds, our network, information and management support.

We will create a dedicated operation from 2022. https://t.co/m0uwiptMOx

— Ken Kodama (@KenKodama_Biz) September 26, 2021

The competition in the DeFi and NFT space is getting stronger

Cardano’s latest investment is a sign that the competition within the NFT and DeFi space is getting stronger. Ethereum remains the leading NFT and DeFi blockchain in the world. However, it is facing tough competition from the likes of Solana and Cardano.