Share this article
The new KuCoin fund will support early-stage NFT projects.
New KuCoin Fund to Support NFT Space
KuCoin has launched a new $100 million fund.
The KuCoin Creators Fund is jointly run by KuCoin Ventures and the exchange’s new NFT marketplace, Windvane. Per a Tuesday press release from KuCoin, the fund will specifically look to support emerging NFT projects focusing on arts, sports, avatars, Asian culture, and GameFi.
The fund will also invite 99 NFT creators to Windvane. The platform supports multiple blockchains, including Ethereum, BNB Chain, and Flow. KuCoin says it wants to help projects use the platform for their own Initial NFT Offerings.
The exchange’s CEO Johnny Lyu said that the fund launch would “further consolidate the Metaverse infrastructure” and that the aim for Windvane is to “bridge Web2 and Web3 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.”
KuCoin, currently the world’s fifth-largest centralized cryptocurrency exchange by volume, is only the latest in the long list of exchanges and other crypto-focused firms looking to double down on the growing interest in NFTs and the Metaverse. In recent months, hundreds of millions of dollars of capital have been allocated to various NFT-related funds and capital raises, with KuCoin launching a $100 million “Metaverse Fund” in November. Last week, meanwhile, Fortnite creator Epic Games raised $2 billion to focus on the Metaverse. While trading volumes on marketplaces like OpenSea and Metaverse-related tokens have taken a hit this year amid an ongoing slump in the crypto market, the rate of funding pouring into the space is showing no signs of slowing down.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
KuCoin Launches $100M Fund to Build Out Metaverse Projects
KuCoin Labs has announced a $100 million Metaverse fund to help develop and support early-stage Metaverse projects. KuCoin Bets on Virtual Worlds KuCoin Labs, the investment and research arm of…
Fortnite’s Epic Games Raises $2B in Metaverse Play
The raise puts the firm’s valuation at $31.5 billion. Epic Games Closes $2B Raise. Epic Games is going long on the Metaverse. The gaming company behind the battle royale hit…
Amazon CEO Hints at Possible NFT Sales in the Future
In an interview today, Andy Jassy, the CEO of Amazon, the world’s largest online retailer, said he expects NFTs to continue growing and sees the company starting to sell them…
Be the first to comment