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The venture capital arm of the KuCoin cryptocurrency exchange announced the creation of a $ 100 million fund. The structure will provide funding for projects focused on the creation of the metaverse.
The funds will go to early-stage startups from emerging economies, primarily from Africa and South America.
In addition to the metauniverses, the foundation is focused on supporting projects in the field of GameFi, NFT, and dapps. Part of the funding will go to educational initiatives.
Members of the KuCoin Metaverse Foundation will be able to count on:
- assistance in launching the project;
- investments in the primary market;
- branding and marketing support;
- developing a go-to-market strategy.
Recall that in November, blockchain company Enjin announced the launch of a $ 100 million fund to create a metaverse with NFT.
Alan Howard and CMT Digital previously backed a $ 100 million fund to investment firm Sfermion, also focusing on the metaverse. On the same days, The Sandbox platform raised $ 93 million from Vision Fund 2 (SoftBank) and other investors for similar purposes.