KuCoin Labs, the funding and lookup arm of the digital trading platform KuCoin, these days announced the launch of the $100 million Metaverse Fund.
The new fund will guide startups in the “Metaverse” along with startups working in the discipline of non-fungible tokens (NFTs) and decentralized infrastructure.
KuCoin Labs will also facilitate the work of startups in commercial enterprise partnerships, branding and market management.
According to the company, the important motive of the trendy fund is to promote the international adoption of blockchain technology, especially in rising areas such as South America and Africa.
For your information, “KuCoin Labs” was once set up in May 2018, to supply guide for emerging projects.
KuCoin Labs now owns a portfolio of greater than 50 projects, including Arweave, MultiVAC, CertiK, OneLedger, LUKSO and Ankr.
About the new earmarked fund Johnny Liu, CEO of KuCoin said:
As the subsequent chapter of the internet, the Metaverse is poised to alternate the way we work, communicate, shop, and have social interactions.
The KuCoin Metaverse Fund will be launched to speed up the improvement of the Internet industry.
We hope to mature the emerging blockchain industry via in addition promotion the application of blockchain technological know-how to “metaverse” projects.
In the ultra-modern evaluate for the 0.33 quarter of 2021, KuCoin said a sharp rise in trading volume as the quantity jumped by way of 720% compared to the same period in 2020.
"Metaverse":
In the company's present day announcement, KuCoin highlights the adoption of a Metaverse-friendly enterprise model.
The concept of "Metaverse" has remained at a theoretical stage considering that its proposal.
To reappear once more with the improvement of technologies, consisting of the birth of the blockchain, which made the “Metaverse” technological know-how grow to be the subsequent destiny of humanity’s migration.
There is no doubt that the Metaverse will replicate our way of life.
However, there is also a catch 22 situation between man or woman privateness protection and technical progress.
Therefore, the "KuCoin Metaverse Fund" is set to create a more non-public and impervious "Metaverse" ecosystem primarily based on Web 3.0, in accordance to Mr. Lu Yu, president of KuCoin Labs.
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