KuCoin Labs is the investment and research arm for digital exchange KuCoin. Today, KuCoin Labs announced the launch the $100 million Metaverse Fund. This fund will help startups in NFT or decentralized infrastructure as well as emerging projects in Metaverse.
KuCoin Labs will also assist emerging companies with market management, branding, and business partnerships. According to KuCoin Labs, the fund’s main purpose is to encourage international adoption of blockchain technology, particularly in emerging regions such as South America and Africa.
KuCoin Labs was founded in May 2018 and provides support for early-stage projects. KuCoin Labs currently has more than 50 projects in its portfolio, including Arweave and MultiVAC, CertiK and OneLedger.
Metaverse, the next chapter in the Internet’s history, is set to revolutionize the way we connect, shop and entertain, as well as the way that we interact with each other. To accelerate the development of the Internet industry, the KuCoin Metaverse Fund will be launched. “We hope to mature blockchain industry by strengthening the application blockchain technology to metaverse projects,” Johnny Lyu CEO of KuCoin stated.
KuCoin’s third quarter review in 2021 revealed a sharp increase in trading volume. The number increased by 720% in comparison to the same period in 2020.
KuCoin announced the adoption of a Metaverse friendly business model in its latest announcement. Since its conception in the 20th century, the concept of Metaverse remains at the theoretical level. Metaverse was the next migration destination for humanity only after the advent of the blockchain. Metaverse is certain to change our lives. There is a tradeoff between privacy protection and technological progress. KuCoin Metaverse Fund will establish a more private, secure Metaverse ecosystem based upon Web 3.0,” Lou Yu (Head of KuCoin Labs) stated.
KuCoin’s mobile app will feature social trading features in October 2021.