KuCoin Launches $100 Million Fund to Support NFT Projects

The Global crypto trading platform, KuCoin announced today that KuCoin Ventures, the company’s venture capital arm, and Windvane, KuCoin’s NFT marketplace, have introduced a $100 million creators fund to facilitate the growth of emerging NFT startups.

The fund will support and incubate early-stage non-fungible token projects covering a broad range of sectors, including sports, GameFi, Asian culture and arts. Moreover, it will invite 99 exceptional NFT creators to join the Windvane NFT marketplace to enhance the growth of Web3.

According to KuCoin, the company’s recently launched $100 million creators fund is a major step towards its expansion in the NFT space. The digital exchange noted that young artists, entrepreneurs and creators will be able to build a democratic decentralized NFT marketplace.

The Chief Investment Officer of KuCoin Ventures, Justin Chou, commented: “KuCoin NFT Marketplace – Windvane is an emerging marketplace. With its user-first and community-driven mission, Windvane will support Web 3.0 creators globally to revolutionize the NFT industry. We are thrilled to partner with Windvane to launch the $100 Million ‘Creators Fund’, which we believe would benefit users, creators, communities and project founders in the Web 3.0 world.”

Earlier this year, digital asset trading platform Huobi announced a $100 million campaign to explore possibilities in the metaverse.

Web3

KuCoin highlighted that the fund will play an important role in the transition from Web2 to Web3. Additionally, the company outlined the rapid development of NFTs and their integration in sports, culture and games.

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. The $100M ‘Creators Fund’ will support NFT creators and projects, which will further consolidate the metaverse infrastructure."