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KuCoin Labs Introduces $100 Million Metaverse Fund

Photograph: FM

KuCoin Labs, the funding and analysis arm of digital trade KuCoin, introduced the launch of the $100 million Metaverse Fund as we speak. The brand new fund will help rising initiatives in Metaverse together with startups working in NFT and decentralized infrastructure.

Moreover, KuCoin Labs will facilitate rising corporations in enterprise partnerships, branding and market administration. In keeping with the corporate, the principle function of the most recent fund is to advertise worldwide adoption of blockchain expertise, particularly in rising areas like South America and Africa.

Based in Might 2018, KuCoin Labs offers help to early-stage initiatives. KuCoin Labs now has a portfolio of greater than 50 initiatives, together with Arweave, MultiVAC, CertiK, OneLedger, LUKSO and Ankr.

“As the subsequent chapter of the Web, Metaverse is poised to vary the best way we work, join, store, entertain and have social interactions. ‘KuCoin Metaverse Fund’ shall be launched to speed up the evolution of the Web trade. We hope to mature the rising blockchain trade by additional strengthening the applying of blockchain expertise to the metaverse initiatives,” Johnny Lyu, CEO of KuCoin stated.

In its newest overview of the third quarter of 2021, KuCoin reported a pointy rise in buying and selling quantity because the quantity jumped by 720% in comparison with the identical interval in 2020.

Metaverse

Within the newest announcement shared by the corporate, KuCoin highlighted the adoption of a Metaverse-friendly enterprise mannequin. “The idea of Metaverse has remained on the theoretical degree because it was proposed within the final century. It was not till the start of the blockchain that Metaverse grew to become the subsequent migration future for mankind. It’s little doubt that Metaverse will reverse our life-style. Nonetheless, there’s additionally a dilemma between particular person privateness safety and technological development. Due to this fact, KuCoin Metaverse Fund is about to ascertain a extra personal and safe Metaverse ecosystem based mostly on Net 3.0,” Lou Yu, the Head of KuCoin Labs, stated.

In October 2021, KuCoin introduces social buying and selling options on its cellular app.

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