$100 million fund from KuCoin for metaverse projects

KuCoin Labs, the investment and analysis arm of cryptocurrency alternate KuCoin, has created a $100 million fund to take a position in metaverse projects.

The fund called the KuCoin Metaverse Fund; GameFi will spend money on NFT and decentralized infrastructure tasks.

KuCoin introduced that the fund will even be used to reinforce the metaverse training application so that they can help the more youthful generation discover their attainable.

KuCoin’s CEO Johnny Lyu mentioned, “The Next chapter of the internet, the metaverse; It Is set to modify the way in which we work, connect, store, have a good time, and engage socially. we’re launching the ‘KuCoin Metaverse Fund’ to boost up the evolution of the web business.”

MY INTERESTED – What are Metaverse cash?

KuCoin also provides support to the developers known beneath the fund in terms of business construction, incentives, branding and partnerships.

the concept of metaverse has become well-liked not too long ago. the reality that Facebook changed its name to Meta in the previous weeks and revealed a large metaverse plan has additional enlivened this space. The tokens of metaverse-oriented blockchain projects were additionally positively suffering from this passion. Decentraland (MANA), The Sandbox (SAND) are examples. at the other hand, in early November, Enjin also introduced that it has created a $100 million metaverse fund.