Kucoin Labs launches $100 million Metaverse investment fund –

Kucoin Labs, the investigation and investment arm of cryptocurrency exchange Kucoin, has launched a $100 million fund to incubate early Metaverse-related projects. These include, but are not limited to, blockchain gaming initiatives, NFT platforms and decentralized platforms. The support also includes direct involvement in the selected projects, including advice on branding and marketing.

Kucoin invests in Metaverse

Kucoin, one of the leading exchanges in Asia, has taken the first step towards the Metaverse Train. The exchange's investment and research arm, Kucoin Labs, has started a $100 million fund to invest in metaverse-based initiatives, including blockchain-based games, decentralized structures, NFT platforms and other similar projects.

Support for Kucoin will not be limited to economic incentives. These incubated projects are also supported in the form of advice on branding, market management, awareness and other important aspects of starting a business. Although the company aims to expand this program to all regions, one of the main goals is to increase the adoption of these technologies in emerging markets such as South America and Africa. A portion of these funds will also go toward educational programs for younger generations that explore the concept of the metaverse.

Meaning of the Metaverse

For companies investing in Metaverse initiatives, this concept will have remarkable significance in the years to come, enabling activities and options that would be impossible today. Speaking about the importance of the metaverse for the future, Kucoin CEO Johnny Lyu said:

As the next chapter of the Internet, Metaverse is poised to transform the way we work, connect, shop, entertain and socialize. “KuCoin Metaverse Fund” is launched to accelerate the development of the Internet industry.

Kucoin is just the latest exchange to jump on the Metaverse investment bandwagon, with other major players like Microsoft and Facebook — which has changed its name to Meta — has already made arrangements to include Metaverse elements.

But the exchange has a different take on the metaverse and wants to include privacy measures to keep people safe in the upcoming alternate universe. Lou Yu, the head of KuCoin Labs, explained that this metaverse poses a “dilemma between protecting individual privacy and technological advancement.” For this reason, the exchange will explore ways to achieve a more privacy-friendly Metaverse ecosystem. Also Solana, FTX and Lightspeed founded a $100 million blockchain gaming fund in recent weeks.

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