THELOGICALINDIAN - The action and money abounding against the Metaverse continues
KuCoin Labs has appear a $100 actor Metaverse armamentarium to advice advance and abutment early-stage Metaverse projects.
KuCoin Bets on Virtual Worlds
KuCoin Labs, the advance and analysis arm of crypto barter KuCoin, has today announced a $100 actor “KuCoin Metaverse Fund” that will advice advance assorted early-stage Metaverse projects. Chosen projects will receive, in accession to money, “full-scale abutment and incentives in agreement of incubation, primary bazaar investment, business partnership, branding, bazaar management, and go-to-market strategy.”
Money from the armamentarium will additionally be allocated to Metaverse apprenticeship programs, with the aim of alluring new aptitude to the space. The armamentarium intends to advance Metaverse applications of blockchain technology globally, decidedly in arising markets like Africa and South America.
KuCoin CEO Johnny Lyu accepted the Metaverse as the “next affiliate of the Internet,” able of alteration “the way we work, connect, shop, absorb and accept amusing interactions.” Lyu believes that applying blockchain technology to Metaverse projects will advice added the blockchain industry as a whole.
The armamentarium will advice aggrandize KuCoin Labs’ absolute portfolio of over 50 projects. Additionally, KuCoin Labs say money from the armamentarium could additionally be allocated to projects and teams not alone categorized as Metaverse, but ones that are carefully related, such as GameFi, NFTs, and decentralized infrastructure.
Lou Yu, arch of KuCoin Labs, remarked that the abstraction of the Metaverse ability accept remained abstract if it were not for blockchain technology, which he theorized could advice the Metaverse become “the abutting clearing afterlife for mankind.” Yu, however, cautioned that a antithesis needs to be maintained amid aloofness aegis and abstruse advancement, abacus that the “KuCoin Metaverse Fund is set to authorize a added clandestine and defended Metaverse ecosystem based on Web 3.0.”
KuCoin’s new armamentarium is not the aboriginal aiming to bolster Metaverse projects. Earlier in November, Enjin, an Ethereum-based NFT gaming platform, announced a agnate $100 actor armamentarium to advice advance development of its own Metaverse projects. Other arresting projects accept additionally anchored ample amounts of funding, with Metaverse bold The Sandbox raising $93 actor in its latest allotment annular led by SoftBank.
Disclosure: At the time of writing, the columnist of this affection captivated BTC, ETH, and several added cryptocurrencies.
