Kucoin Labs Launches USD 100 Million Metaverse Investment Fund – Bitcoin News
Kucoin Labs, the investigation and investment arm of the cryptocurrency exchange Kucoin, has launched a $100 million fund to incubate early Yuan Festival related projects. These include blockchain game plans, NFT platforms, and decentralized platforms. Support will also include direct participation in selected projects, including consulting on branding and marketing.
Kucoin invests in Metaverse
Kucoin is one of the leading exchanges in Asia and has taken the first step Metaverse train. Kucoin Labs, the investment and investigation department of the exchange roll out A $100 million fund to invest in projects based on Metaverse, including blockchain-based games, decentralized structures, NFT platforms, and other similar projects.
Kucoin’s support is not limited to economic incentives. These incubation projects will also receive assistance in the form of consultation on branding, market management, exposure and other important aspects of starting a company. Although the company aims to expand the program to all regions, one of its main goals is to increase the adoption rate of these technologies in emerging markets such as South America and Africa. Part of these funds will also be used for educational programs for the younger generation exploring the concept of meta-universe.
Importance of Metaverse
For companies investing in the Yuan Festival plan, this concept will have significant significance in the next few years, realizing activities and choices that are impossible today. Regarding the importance of Metaverse to the future, Kucoin CEO Johnny Lyu said:
As the next chapter of the Internet, Metaverse is ready to change the way we work, connect, shop, entertain, and socialize. The “KuCoin Metaverse Fund” will be launched to accelerate the evolution of the Internet industry.
But the exchange has a different concept of the meta universe and hopes to include privacy measures to ensure people’s safety in the upcoming alternative universe. Lou Yu, the head of KuCoin Labs, said that this Metaverse has established a “dilemma between personal privacy protection and technological progress.” This is why the exchange will study ways to achieve a more privacy-friendly Metaverse ecosystem. Solana, FTX and Lightspeed also Established A $100 million blockchain gaming fund has been established in recent weeks.
What do you think of Kucoin’s launch of a $100 million Yuan Festival Fund? Tell us in the comments section below.
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