Kucoin Labs Announces the Launch of a $100 Million Metaverse Investment Fund

Kucoin Labs, a cryptocurrency exchange’s investigative and investing arm, has announced a $100 million fund to foster early metaverse-related startups. Among them are blockchain gaming efforts, NFT platforms, and decentralized platforms. The assistance will also include direct engagement with the selected initiatives, such as branding and marketing advising.

Kucoin, one of Asia’s major exchanges, has taken the first step toward joining the metaverse. Kucoin Labs, the exchange’s investment and research arm, has announced a $100 million fund to invest in metaverse-based initiatives such as blockchain-based games, decentralized structures, NFT platforms, and other similar projects.

Kucoin’s assistance will not be restricted to monetary rewards. These incubated ventures will also receive assistance in the form of advice on branding, market management, exposure, and other critical components of beginning a business. While the corporation hopes to expand this initiative to all areas, one of the primary goals is to enhance the acceptance of these technologies in growing markets such as South America and Africa. A portion of these monies will also be used to support education initiatives for younger generations interested in the metaverse idea.

This notion will be of significant importance to organizations engaging in metaverse efforts in the next years, enabling actions and possibilities that would be inconceivable now. Kucoin CEO Johnny Lyu commented on the metaverse’s usefulness for the future:

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.

Kucoin is only the most recent exchange to get on the metaverse investing bandwagon, with other major corporations like as Microsoft and Facebook — which has changed its name to Meta — also making plans to include metaverse components.

However, the exchange has a different view of the metaverse and want to add privacy protections to ensure people’s safety in the forthcoming other realm. According to Lou Yu, the CEO of KuCoin Labs, this metaverse creates a “dilemma between individual privacy protection and technical growth.” As a result, the exchange will look at methods to create a more privacy-friendly metaverse ecosystem. In recent weeks, Solana, FTX, and Lightspeed also launched a $100 million blockchain gaming fund.

Patrick

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