Emurgo to support DeFi and NFT projects with $100 million funding

Emurgo to support DeFi and NFT projects with $100 million funding
фото показано с : invezz.com

2021-9-29 19:41

Cardano Blockchain’s official commercial arm, AMURGO, has announced the launch of a $100 million investment fund to invest in early startups. According to the press release, the investment will be channelled towards NFT and DeFi project building impactful solutions on the Cardano blockchain.

Emurgo Ventures intends to grow its investment base and extend to other developed markets. The goal, according to the report, is to become the seed investor in a number of startups in the DeFi and NFTs industry.

This is not the first investment round Emurgo has raised for such projects. It has already completed funding for dozens of similar projects on the Cardano (ADA/USD) network through its collaboration with SOSV.

Chief Executive Officer of Emurgo, Ken Kodama, commented on the funding. He said that the company wants to speed up the development of Cardano ecosystem.

The company reiterated that it is focused on meeting the DeFi and NFT demand by providing strategic resources and funding capital for the portfolio companies. EMURGO is also looking to bring new solutions to the Cardano ecosystem.

Charles Hoskinson, Chief Executive Officer IOHK, Cardano’s parent company, stated that the funding will go a long way in shaping the future of the Cardano ecosystem. According to him, this will improve the overall capability of the network for the diverse Cardano community.

More Support for NFT and DeFi projects

Cardano has also been collaborating with other players in the industry to accelerate the development of the DeFi industry.

The company plans to launch its first stablecoin, and earlier this week, it teamed up with Chainlink (LINK/USD) to develop DeFi smart contacts.

According to the announcement, the fund will consist of two subsidiaries – EMURGO Ventures and AMURDO Africa. Each of the investment areas will be handled differently.

AMUGO Ventures will concentrate on developed markets, with the goal of building blockchain developer education tools, NFT projects, DeFi services, as well as other dApps on the network.

On the other hand, EMUGO Africa will be supporting more than 300 regional startups in Africa via incubation and seed funding. According to the announcement, the aim is to make Cardano the main technological platform for adoption across the African continent.

The post Emurgo to support DeFi and NFT projects with $100 million funding appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

NFT (NFT) на Currencies.ru

$ 0.1282 (+0.51%)
Объем 24H $0
Изменеия 24h: 4.93 %, 7d: 9.39 %
Cегодня L: $0.1282 - H: $0.1282
Капитализация $0 Rank 3750
Доступно / Всего 0 NFT

million cardano 100 investment blockchain defi nft

Источник: invezz.com

million cardano → Результатов: 96


Фото:

deFIRE Raises $5 Million in Pre-IDO Funding Round to Enable Defi on Cardano

deFIRE, a decentralized financial platform incubated by Occam.fi and powered by Changelly, has announced the closure of its round of funding with $5 million led by strategic private investors. According to DeFIRE, the private investors who took part in the latest round of funding include Morningstar, Cryptodromfund, SwissBorg Ventures, Lotus Capital, MoonWahle, Hype Partners, Axia8 […]

2021-5-14 22:53


Фото:

“World’s Biggest Blockchain Deployment”: Ethiopian Government To Use Cardano’s Technology To Revamp Its Education System

Cardano developer IOHK has announced a strategic partnership with the Ethiopian government to use Cardano-based technology to revolutionize the nation’s education system. Cardano’s Identity System To Be Rolled Out To 5 Million Ethiopian Students  Based on the Atala PRISM framework, the identity solution will be deployed throughout Ethiopia in what will be the “world’s biggest […]

2021-4-28 22:45


Charles Hoskinson: Cardano’s PoS Consensus Protocol is ‘1.6 Million Times More Efficient Than Bitcoin’

In a recent interview, the IOHK CEO spoke on the climatic impact of BTC mining and how Cardano is different in its approach. Cardano Is 1. 6 Million Times More Energy-Efficient Than Bitcoin Mathematician and former co-founder of Ethereum blockchain Charles Hoskinson said in a Forbes interview that Bitcoin’s proof-of-work (PoW) consensus algorithm is energy-intensive due […] The post Charles Hoskinson: Cardano’s PoS Consensus Protocol is ‘1.

2021-4-27 15:37


Фото:

Dubai Based Crypto Investment Fund to Convert $750 Million Worth of BTC Into ADA and DOT Tokens

A Dubai based crypto-based investment fund, FD7 Ventures says it will offload bitcoins worth $750 million and will use the proceeds to increase positions in Cardano and Polkadot tokens. According to FD7 Ventures, this switch to the two altcoins will help the fund to better serve the interests of investors who are looking to diversify […]

2021-2-27 18:30


Cardano starts off first day of Shelley Virtual Summit with 5 new announcements

Cardano’a parent company IOHK started off the Shelley Virtual Summit with 5 major announcements, unveiling some of the innovations that were made possible by the public mainnet launch of Shelley, including its identity solution PRISM, a new model for governance on Voltaire, as well as a $20 million fund aimed at dApp development on Cardano.

2020-7-3 19:59


640 Crypto Projects Out of 2,000 Haven’t Published a SIngle Line of Code in 2019: Report

Combined market cap of these cryptos is $415 million Ethereum, EOS, Cardano, Lisk Leads the Github Activity Exchanges prioritizing their own interest “Crypto landscape is full of lies and empty promises,” states the report analyzing cryptocurrencies’ Github activity, by CoinCodeCap, a code analysis, reporting, and API services for cryptocurrencies technology provider. On analyzing the development […]

2019-9-25 19:36


Ethereum recorded over 1 million transactions owing to smart contract creation, reveals SOOHO report

Technologists including Ethereum’s Vitalik Buterin and Cardano’s Charles Hoskinson have shifted their focus into developing individual ecosystems and improving market adoption. This drive is complimented by these technologists uploading informative videos that trace their company and coins’ future roadmap.

2019-7-2 20:30


дальше еще 47 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Crypto market cap surpasses the $2.5t mark following CPI data

The global cryptocurrency market capitalization has recorded an impressive momentum after the U.S. Consumer Price Index (CPI) report was released. Notably, the US CPI for April increased by 3.4% over the past year, crypto.news reported. In March, the CPI reached…

ABT token surges 26% to hit new all-time high

ArcBlock’s native token, ABT, has seen a significant surge in its market value, with a 26% rise over the last 24 hours, pushing the token to a new all-time high of $3.92. The latest surge in trading volume, which reached $31.8…

Q1 CoinShares most successful quarter in history with revenue up 216%

European crypto asset manager CoinShares has revealed that its revenue in Q1 increased by 216% since last year, with total comprehensive income increased by elevenfold. CoinShares, a European digital asset manager and crypto research firm, saw its “strongest quarter ever”…

Chinese authorities arrest six suspects in $300m crypto fraud case

Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into…

Celsius (CEL) rallies 360% following massive token burn

The native token of the now-defunct Celsius Network, CEL, has recorded an impressive price surge following its massive token burn. On-chain data shows that Celsius burned over 94% of its total supply on April 30 — plunging from 695.65 million…