Cardano Summit: $ 100M Investment for DeFi and NFT

The Alonzo update aimed to bring Cardano’s networking functionality closer to current industry standards by enabling smart contracts. In addition, Cardano announced an important partnership during the summit to spur the development of new features integrated into smart contracts.

$ 100 million for NFT and DeFi

Emurgo, a company that can easily be called the commercial arm of Cardano, is planning to invest $ 100 million in funding blockchain-based crypto startups.
As part of the initiative, Emurgo will provide capital for the development of the Cardano ecosystem. First of all, the company wants to focus on supporting startups operating in the DeFi and NFT sector. In addition, Emurgo plans to launch educational programs focused on Cardano.
Ken Kodama, founder and CEO of Emurgo, said his company wanted to accelerate the development of the Cardano ecosystem.
Emurgo has already invested in several Cardano projects, including the Milkomeda EVM (Ethereum Virtual Machine) compatible sidechain.

Cardano community hopes for dApps on the mainnet

Since the beginning of the so-called Alonzo era, the project has continuously worked to further develop its own ecosystem. The Alonzo hard fork brings smart contract functionality to the web, which should pave the way for projects to allow their decentralized applications to run on the mainnet. Thus, Cardano is actively positioning itself as a competitor to established blockchains such as Ethereum, Solana or Avalanche.
The expectations are clear: as soon as there are scaling solutions for the existing eUTXO model, Cardano hopes that projects will migrate to its own blockchain.
The fact is that Cardano is considered one of the most funded blockchains, and the community, as well as a large number of investors, hope that the ecosystem will continue to grow in the coming months.
The $ 100 million from Emurgo can play a vital role in this process. The company also confirmed that it will devote itself to funding the blockchain ecosystem from next year.

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