Kucoin Labs, an investment arm of the Investment and Research Arm of global leading exchange KuCoin, announced the launch of “KuCoin Metaverse Fund”.
A $100 million fund will be committed to support and nurture early-stage metaverse, GameFi, NFT, decentralized infrastructure, and innovative projects.
This fund will also support the metaverse education programs to assist the younger generation in exploring its potentials.
KuCoin Labs will also provide full support and incentive in the area of incubation, primary market investment, business partnership, branding, market management, and market strategy.
It aims to also promote adoption from the majority especially in markets like Africa and South America.
Johnny Lyu, the CEO of KuCoin, said;
“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. We hope to mature the emerging blockchain industry by further strengthening the application of blockchain technology to the metaverse projects”
KuCoin Labs was founded in May 2018,it is the investment and research force of the kucoin ecosystem.
KuCoin Labs diversifies into projects at an early stage to help more builders achieve sustainable growth and success in the decentralized world. KuCoin Labs currently owns a portfolio of over 50 projects, including Arweave, MultiVAC, CertiK, OneLedger, LUKSO, and Ankr, in sectors such as infrastructure, DeFi, and NFT.
“There’s 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.”( Lou Yu, head of Kucoin labs)
KuCoin is a global cryptocurrency exchange for over 500 digital assets. It was launched in September 2017. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners.
According to CoinMarketCap, KuCoin is currently the third biggest crypto exchange. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021.
What do you think of this article? Share your comments below
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...
- Move To Earn: Keep Fit, Sport, Connect and Earn on the Calo Metaverse
- Top 5 Move-to-earn Applications on Google Playstore
- Top Move-to-Earn Projects Below $100 Million Market Cap
- MetaRuffy: An Intersection of Blockchain, Web3, VR, and AR
- Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa