Kucoin Labs has created a $100,000,000 fund for early-stage metaverse projects. This is Kucoin Labs which acts as an investment and investigation arm. They include decentralized platforms, NFT platforms, blockchain gaming, and other related initiatives. This support includes direct involvement in projects chosen, counseling regarding branding, and marketing.
Kucoin Invests In Metaverse
Kucoin, Asia’s leading cryptocurrency exchange, is the first to jump on board the metaverse train. Kucoin Labs is the investment and investigation arm. It has created a $100million fund that will invest in metaverse-based projects, such as blockchain-based games and NFT platforms.
The support of Kucoin won’t be limited to just economic incentives. The Kucoin will offer counseling in branding and market management to incubated businesses. Although the company hopes to make this program available in all countries, its main goal is to promote these technologies to emerging markets like South America or Africa. A portion of these funds will be used to fund education programs that help younger people explore the idea of the metaverse.
This concept is of great importance to companies that invest in metaverse initiatives. It will allow for new options and possibilities, which would not be possible right now, and it will also have a significant impact on the future. Johnny Lyu from Kucoin, CEO of Kucoin spoke out about the significance and future potential of the metaverse.
Metaverse will be the next chapter for the Internet. It is set up to transform the way people work, interact, shop, entertain, and communicate. ‘KuCoin Metaverse Fund’ will be launched to accelerate the evolution of the Internet industry.
Kucoin is just the latest exchange to jump on the metaverse investment bandwagon, with other big companies like Microsoft and Facebook — which changed its name to Meta — already making arrangements to include metaverse elements.
However, the exchange believes that privacy is a key element of the future metaverse. Lou Yu, the head of KuCoin Labs, stated that this metaverse establishes a “dilemma between individual privacy protection and technological advancement.” This is why the exchange will be studying ways of achieving a more privacy-friendly metaverse ecosystem. Lightspeed, FTX, Solana and Lightspeed have also set up a $100 million Blockchain Gaming Fund in the last few weeks.
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