KuCoin Bets on Virtual Worlds With $100 Million Fund

KuCoin Labs launched a $100 million Metaverse fund to build and support Metaverse projects.

KuCoin Labs has announced a $100 million fund to build and support the development of the Metaverse projects.

The investment and research branch of crypto exchange KuCoin,

KuCoin Labs announced on November 17, a $100 million “KuCoin Metaverse Fund” that will support the development of several new Metaverse projects.

According to the company, chosen projects will get, in addition to money, full-scale support and motivations in terms of incubation, business partnership, primary market investment, branding, market management, and go-to-market strategy.

Moreover, some money from the fund will also be designated to Metaverse education programs. This is to attract new talent to the industry.

Moving further, the team notes that the fund will also be allocated to promote Metaverse applications of blockchain technology globally. In particular, in emerging markets like South America and Africa.

Moreover, the fund will help grow KuCoin Labs’ existing portfolio of more than 50 projects. Expanding further, KuCoin Labs emphasizes that the money from the fund could also be allotted to projects and teams not only classified as Metaverse, but also ones that are closely related, like GameFi, non-fungible tokens (NFTs), and decentralized infrastructure.