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KuCoin is launching a $ 100 million fund to participate in the Metaverse race

KuCoin Labs, the investment and research arm of the KuCoin exchange, has announced the launch of a US $ 100 million KuCoin Metaverse Fund committed to early-stage Metaverse, GameFi, NFT, decentralized infrastructure, innovation projects, and more Support and Incubate In addition, the Fund will also support integrated education programs to help the younger generation discover their potential.

In addition to providing $ 100 million for various projects, KuCoin Metaverse Fun promises to “fully support and promote incubators, primary market investments, business partnerships, branding, market management and go-to-market strategies”.

It will also encourage the mass adoption of blockchain technology, with an emphasis on emerging markets such as South America and Africa.

Kucoin CEO Johnny Lyu described Metaverse as the next chapter of the internet, “poised to change the way we work, connect, shop, play and interact socially”.

Therefore, KuCoin Metaverse Fun will aim to “accelerate the development of the Internet industry. We hope to grow the blockchain industry by further improving its acceptance for Metaverse projects. “

Metaverse is growing day by day

As mentioned earlier, the idea of Metaverse has skyrocketed in recent months, especially after Mark Zuckerberg decided to change the name from Facebook to Meta. This came as a surprise to many, but Zuckerberg insists it would allow the company to focus more on developing the Metaverse.

In addition to KuCoin’s new fund, many other crypto-based projects have announced their intention to join the Metaverse in some form.

Investment firm NFT Sfermion was one of the first to raise $ 100 million from several well-known institutional and venture capitalists to participate in the Metaverse.

Shortly thereafter, the blockchain-based gaming platform Enjin also set up a $ 100 million fund to help develop the decentralized Metaverse.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.