Emurgo is ready to invest in the Cardano ecosystem for the crypto projects with $100 million funding.
After the Alonzo Hardfork on the Cardano ecosystem, the Cardano team showed its huge stand in space. Many crypto projects are speedly moving to integrate and create new projects on Cardano blockchain. A recent summit of Cardano on 26 September brought many projects and future plans for the Cardano project.
As we know, Emurgo is a commercial arm of Cardano project. Under the Cardano Summit update, Emurgo announced that they will give $100 million fund support for the Cardano ecosystem. And the whole funding will remain focused on the DeFi and NFTs based projects on Cardano Blockchain. And also they will contribute to the Cardano-centric education programs.
Ken Kodama, CEO of Emurgo, stated that the main goal of Emurgo is to rapidly expand the crypto projects in the Cardano ecosystem.
Emurgo is not Investing first time in the Cardano project, already they Invested & contributed in Cardano based projects like EVM-compatible sidechain Milkomeda.
Cardano ecosystem attracting other firm
After Alonzo upgrade, enabled smart contract feature on Cardano blockchain and it is allowing almost all kinds of programming to create new projects whether they are based on decentralized exchange or NFTs based projects or new crypto asset projects.