More and more companies are participating in the development of the digital world Metaverse. Finally, KuCoin, the world’s 6th largest cryptocurrency exchange in terms of trading volume, announced that it has joined the Metaverse world.
In the statement made by the exchange, it was stated that a $ 100 million fund was launched to support Metaverse projects. Dubbed the “KuCoin Metaverse Fund,” the fund will invest in gaming, GameFi, and NFT projects.
The Metaverse fund, which will support startups and other teams who want to develop Metaverse projects, will also provide branding, promotion and trade partnership services for selected project developers.
After describing Metaverse as “the next chapter of the internet that aims to change the way we work, socialize, shop, have fun and chat”, Kucoin CEO Johnny Lyu continued:
“As a result, the new fund aims to accelerate the development of the Internet industry. By further strengthening the application of blockchain technology to Metaverse projects, we hope to mature the emerging blockchain industry.”
In the past months, the social media giant Facebook announced that it has started a fund to develop Metaverse. As the next step, Facebook announced that it changed its name to “Meta”, and Metaverse quickly increased in popularity after Facebook’s move.
After Facebook, many corporate companies such as Microsoft announced that they started to be interested in Metaverse.
*Not investment advice.