coindesk.com
KuCoin Labs, the investment and research firm spun out of crypto exchange KuCoin, has launched a $100 million fund to invest in Metaverse start-up projects.
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The KuCoin Metaverse fund will be used to invest in gaming and decentralized finance (GameFi), non-fungible tokens (NFT), and decentralized infrastructure projects.
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The metaverse is a space generated by the convergence of virtual worlds, augmented reality and internet services. By offering a collective virtual experience, it has introduced new opportunities to creators, gamers and artists.
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Recently, Facebook which changed its name to Meta announced that its metaverse will support NFTs.
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KuCoin said the fund will also be used to support metaverse education programs helping the younger generation in exploring its potential.
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“As the next chapter of the Internet, Metaverse is poised to change the way we work, connect, shop, entertain and have social interactions. ‘KuCoin Metaverse Fund’ will be launched to accelerate the evolution of the Internet industry,” said Johnny Lyu, CEO of KuCoin.
Read more: ‘Bridge Szn’ Continues With $2M Raise for Stablecoin Connector Symbiosis
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