KuCoin Launches $100M Investment Fund for Metaverse Start-Ups By
KuCoin Launches $100M Investment Fund for Metaverse Start-Ups
On Wednesday, KuCoin announced the launch of its “KuCoin Metaverse Fund.” The investment incubator will comprise a $100 million fund that’s committed to kickstart and grow early-stage projects in Metaverse, GameFi, NFT, decentralized infrastructure and more. The fund will be actively managed by KuCoin Labs, the research and investment division of KuCoin.
The official company announcement stated that the fund will also support metaverse education programs to drive adoption and exploration of the immersive internet ecosystem by younger users. This is a graphical asset KuCoin Labs developed and is using across social media to promote its new Metaverse incubator fund.
In addition to financial investment, KuCoin Labs will also provide a full suite of support services and incentives in terms of incubation, primary market identification, business partnership, branding, market management, and go-to-market strategies. The statement also noted that the company will promote the global mass adoption of blockchain, especially in emerging markets such as Africa and South America.
“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,”
Johnny Lyu, CEO of KuCoin in its statement.
This latest investment demonstrates KuCoin’s Metaverse-friendly business model. Previously, KuCoin introduced the first Metaverse Token Trading Board, and a virtual office has been built through its collaboration with Bloktopia.
On The Flipside
- This is a good thing to see and this type of investment in early-stage technology is positive, there’s very little downside to this type of initiative.
Why You Should Care?
In one version or another, the Metaverse will be a significant part of our lives in the next 3-5 years.
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