KuCoin Labs Launches $100 Million Metaverse Fund To Empower Early-Stage Metaverse Projects
KuCoin Labs, 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 incubate early-stage projects in Metaverse, GameFi, NFT, decentralized infrastructure, innovative projects, etc. Moreover, this fund will also support the metaverse education programs to assist the younger generation in exploring its potentials.
In addition to financial support, KuCoin Labs will also provide a full-scale of support and incentive in terms of incubation, primary market investment, business partnership, branding, market management, and go-to-market strategy. It will promote the global mass adoption of blockchain, especially in emerging markets like Africa and South America.
Johnny Lyu, 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.”
Lou Yu, the head of KuCoin Labs, added, “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.”
KuCoin is adopting a metaverse-friendly business model. Previously, it introduced the first Metaverse Token Trading Board, and a virtual office has been built through its collaboration with Bloktopia.
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