KuCoin Labs, the investment and research arm of crypto exchange platform KuCoin, is launching a $100 million fund dedicated to the metaverse.
The KuCoin Metaverse Fund
KuCoin is already one of the centralized exchanges on which the most metaverse-related cryptos can be found. But it has kicked it into high gear. Thus, its investment and research division will launch a $100 million fund to support teams wishing to develop metaverse projects.
Called the “KuCoin Metaverse Fund”, it will incubate GameFi protocols, NFTs, and decentralized infrastructure projects. In other words, it will also provide selected developers with incubator services, branding assistance, incentive programs, and business partnerships.
“The KuCoin Metaverse Fund will be launched to speed up the development of the internet industry. We hope to help the emerging blockchain industry mature by further strengthening the application of blockchain technology in metaverse projects.” Johnny Lyu, CEO of Kucoin, statement.
The fund will also be used to support education programs at the metaverse, an immersive space where we will soon be able to work, play and socialize in a 3D environment.
A pioneering exchange in the metaverse
This shift in KuCoin’s focus may well make it more well-known. Ranked 6th on CoinGecko, the platform has seen solid growth over the past year. It could well increase its performance by playing the now coveted metaverse card. But the race between the players in the crypto industry has only just begun and the battle, as always, looks to be tough.