Cardano’s web3 ecosystem is elevated after one of its founding partners EMURGO Ventures, announced an investment into a leading Web3 hackathon firm DoraHacks. The latter boasts of having over 300k multi-chain active developers and experts.
According to the press release, the funding will bring global hackathons to ADA’s community of over 3.8 million active addresses and open up prospective commercial opportunities in the dApps domain.
Recently EMURGO Africa and Cardano accelerator Adaverse unveiled the Blockchain Founders Hangout 2.0 event to discuss Web3 funding in Africa.
Speaking on the development, Kaimin Hu, Venture Partner at EMURGO Ventures stated,
EMURGO Ventures is thrilled to invest and partner with DoraHacks, a frontier tech leader in building and fostering a global Web3 developer community. We expect this investment to drive and scale Cardano’s Web3 developer community through co-hosting hackathons, bring more funding and technological resources to ADA’s decentralized funding programs for devs, and ultimately accelerate Cardano’s Web3 in the years to come.
On the other hand, DoraHacks’ DAO facilitates open-source projects to create decentralized autonomous organizations for their communities to govern and finance the projects.
The global leading hacker organization has already backed over 2,000 startups and $25 million in grants and is also currently providing funding technology and decentralized governance infrastructure to 40+ Web3 ecosystems and their respective developer communities.
DoraHacks, a San Francisco, CA-based firm has curated hackathons for leading blockchains developers of prominent players like Solana, Polygon, and Avalanche ecosystems.
Additionally, in May 2022, the organizer secured $20 million in a funding round led by FTX Ventures, the investment arm of crypto exchange FTX, and Liberty City Ventures.
It also previously raised $8 million last November in a strategic funding round led by Binance Labs.
Cardano Ranked At The Top For Global brand Intimacy
Blockchain firm Cardano has scored the top spot in a new report on global brand intimacy, as reported by TronWeekly. Per brand relations agency MBLM, ADA ranked 26 among 600 brands and holds the top spot in the cryptocurrency industry.
From the survey made across 19 industries, cryptocurrencies performed among the top 10, with Cardano at first and Bitcoin at the 30th rank, With regard to last year, analysts said that ADA is not only a new entry but the highest ranked cryptocurrency and the best performing financial services brand.