One of the most exciting things happening in the crypto world as of today is the rise of Cardano or ADA. With a lot of eyes on Cardano, the cryptocurrency has just gotten a whopping $100 million investment meant to expand its efforts in DeFi and NFT solutions. The investment comes from the blockchain tech firm known as EMURGO.
Cardano Gets Investment from EMURGO
The new and rising Cardano ecosystem is currently getting a major investment coming from the blockchain tech firm known as EMURGO. In a recent tweet, EMURGO revealed that it is injecting a whopping $100 million into the whole Cardano ecosystem through an investment vehicle in order to bolster development in a number of key areas.
The areas in which the investment is to be used include decentralized finance as well as non-fungible token or NFT technology. The tweet notes that EMURGO is now investing a whopping $100 million in the Cardano ecosystem in order to accelerate the whole DeFi, NFT solutions, and even blockchain education.
EMURGO Africa and EMURGO Ventures
The whole Cardano ecosystem investment vehicle will reportedly be split into two different entities. Each of these entities has a distinct focus area, namely EMURGO Africa as well as EMURGO Ventures, according to an EMURGO blog post.
EMURGO Africa is currently aiming to support over three hundred different regional startups through the help of seed funding and incubation. This is to ultimately have Cardano's new blockchain adopted as the widespread technological platform standard in Africa for certain socially impactful solutions.
Capital Allocation for Seed Investments
It was noted that EMURGO Ventures is set to focus on other developed markets in order to facilitate the building of solutions and services on Cardano. This is with the help of a capital allocation for seed investments into a number of Cardano-focused startups as well as middleware solution companies.
These include those that are building decentralized financial services or DeFi, non-fungible token projects or NFTs, blockchain developer education tools, and even other decentralized applications. Cardano founder Charles Hoskinson gave a statement. Cardano has even climbed to #4 on CoinGecko, making it one of the biggest cryptocurrencies of today.
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EMURGO Investment's Effect on Cardano Ecosystem
According to Charles Hoskinson, EMURGO's significant investments will help to shape the actual future of the whole Cardano ecosystem through growing smart contract capabilities as well as partnerships made across the globe. EMURGO Africa has also reportedly partnered along with Africa-focused firms just like Adanian Labs as well as Adaverse in order to expand the whole Cardano ecosystem on the continent.
Adanian Labs is a particular venture building studio operator while Adaverse is known as a Cardano-focused accelerator program. EMURGO Ventures, on the other hand, injected seed investment directly into a Cardano sidechain project known as Milkomeda.
Other exciting projects on Cardano also include SundaeSwap, which is meant to be the PancakeSwap of the Cardano ecosystem. This is not the only project set to launch on the Cardano ecosystem.
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This article is owned by Tech Times
Written by Urian B.
