- KuCoin Labs launches $100 million metaverse fund called KuCoin Metaverse Fund.
- A $100 million fund will be committed to support and incubate early-stage projects in Metaverse, GameFi, NFT, decentralized infrastructure, innovative projects, etc.
- The fund will also support the metaverse education programs to assist the younger generation in exploring its potentials.
- The fund’s primary goal is to promote international adoption of blockchain technology, particularly in emerging regions like South America and Africa.
The $100 million Metaverse Fund was announced today by KuCoin Labs. It is the investment and research arm of the digital exchange KuCoin. The new fund will support Metaverse-related projects as well as NFT and decentralized infrastructure startups.
The launch of a $100 million metaverse fund will be committed to support and incubate early-stage projects in Metaverse, GameFi, NFT, decentralized infrastructure, innovative projects, etc.
KuCoin Labs will also assist new companies with business partnerships, branding, and market management. The latest fund’s primary goal, according to the company, is to promote the international adoption of blockchain technology, particularly in emerging regions like South America and Africa.
Lou Yu, the head of KuCoin Labs, said that:
“The concept of Metaverse has remained at the theoretical level since it was proposed in the last century. It was not until the birth of the blockchain that Metaverse became the next migration destiny for mankind. It’s no doubt that Metaverse will reverse our lifestyle. However, there’s also a dilemma between individual privacy protection and technological advancement. Therefore, KuCoin Metaverse Fund is set to establish a more private and secure Metaverse ecosystem based on Web 3.0.”
Johnny Lyu, CEO of KuCoin, said that:
“As the next chapter of the Internet, Metaverse is poised to change the way we work, connect, shop, entertain and have social interactions. ‘KuCoin Metaverse Fund’ will be launched to accelerate the evolution of the Internet industry. In addition, we hope to mature the emerging blockchain industry by further strengthening the application of blockchain technology to the metaverse projects.”
KuCoin Labs is the KuCoin ecosystem’s investment and research arm. KuCoin Labs diversifies and intensifies early-stage investments in projects to aid more builders in achieving long-term growth and success in the decentralized world. KuCoin Labs now has a portfolio of over 50 projects in sectors like infrastructure, DeFi, and NFT, including Arweave, MultiVAC, CertiK, OneLedger, LUKSO, and Ankr. In addition, KuCoin Labs set up a $50 million fund in April 2021 to find the next crypto gem and support the development of early-stage crypto projects.
KuCoin is a global cryptocurrency exchange with over 500 digital assets. It currently offers 8 million users in 207 countries and regions worldwide: spot trading, margin trading, P2P fiat trading, Futures trading, Staking, and Lending. KuCoin raised $20 million in Series A funding from IDG Capital and Matrix Partners in 2018. In addition, KuCoin was named one of the Best Crypto Exchanges for 2021 by Forbes.