KuCoin announces a $100 Million Fund to Empower Web3 Growth

KuCoin’s role in empowering the Web3 universe continues, this time with the launch of a new $100 million fund.

Spearheaded by KuCoin,  the leading crypto exchange, together with its brand new NFT trading platform’s KuCoin NFT Marketplace-Windvane and venture capital arm KuCoin Ventures, the $100 million “Creators Fund” targets the incubation of early-stage NFT projects.

Empowering Web3 Universe

The goal, according to a press release the platform shared, is to use the funds to support the NFT Metaverse ecosystem. As such, projects drawn from fields such as arts, Esports, PFPs, GameFi, and Asian culture among others, are set to benefit.

To help accelerate this growth as Web3 takes shape is KuCoin’s launch of a new decentralised NFT marketplace dubbed “KuCoin NFT Marketplace-Windvane.

Per an announcement shared earlier this week, ‘99 outstanding NFT creators’ will be selected to join the Windvane NFT marketplace, with the goal being to provide all the support needed to help push growth within the Metaverse.

Johnny Lyu, the CEO of KuCoin said:

At the current stage of KuCoin’s comprehensive and in-depth expansion of the Web 3.0 and NFT fields and deepening the KuCoin ecosystem, the launch of a $100 million ‘Creators Fund’ will undoubtedly bring a strong impetus to our development process.”

He added that Windvane’s objective is to “bridge” Web2 and Web3, allowing for “a more integrated NFT world with a lower barrier to entry for users.”

KuCoin NFT Marketplace-Windvane

KuCoin says Windvane is a new decentralised NFT marketplace where the INO ( Initial NFT Offering)users can mint and trade NFTs Trading are supported. The platform will also offer access to services such as NFT management and storage, with support for mainstream NFT blockchains.

Windvane will also support upcoming NFT creators by offering access to KuCoin’s huge user traffic. Creators are also set to benefit from the input of top KOLs (key opinion leaders) and communities as projects work towards their initial NFT offering (INO).

Windvane’s Web3 goals align with those of KuCoin Ventures, a “research-driven full-stage corporate venture.” As well as Web3well Web3, the venture focuses on aiding growth in decentralised finance (DeFi) and Game-Fi.

KuCoin has announced a genesis activity to celebrate the launch of Windvane, with the community invited to take part in a USDT and genesis NFTs airdrop. According to the exchange, the activity will begin on 21 April 2022 at 18:00 UTC and run until 26 April 2022 at 18:00 UTC.

On April 8th, KuCoin launched KuCoin IGO, a platform the ‘people’s exchange is looking to use to fuel growth within the blockchain gaming sector. The metaverse and NFTs space will also benefit from the platform, which has already seen its first project Pikaster.

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Author: Benson Toti