The Metaverse is an investment for the future. From Facebook to KuCoin, millions are pouring in. The cryptocurrency exchange has unlocked $ 100 Million through an investment fund specializing in Metaverse, DeFi, NFTs and the blockchain ecosystem as a whole.
- KuCoin unlocks a record sum for the metaverse
- The Metaverse is at the heart of the technological challenges of the coming years
- Facebook is positioned, but the blockchain has advantages that money cannot buy.
KuCoin is the 5th largest exchange on the planet with its $ 6 billion daily volume. Behind this platform, which operates from the Seychelles, many projects are in the starting blocks. Exchanges are not like traditional banks, which are content to take their customers’ money while waiting for time to pass. On the contrary, the latter are real players in the development of the crypto and blockchain ecosystem. An example that can confirm these statements, in addition to the countless projects launched by platforms like Binance or Coinbase. This is the recent investment from KuCoin.
KuCoin is not the most well-known platform in our part of the world. Indeed, this platform originates from the Asia Pacific region, with offices in Singapore and clients in mainland China. But the strike force of this platform is now sufficiently large. It can deploy ambitious 360 ° projects around the world. Projects like the launch of an exceptional venture capital fund endowed with 100 million dollars.
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KuCoin Unlocks $ 100M for the Metaverse
This money is not simply intended to enrich KuCoin. It will be used to develop all projects that affect the hottest points of cryptocurrencies. Metaverse, DeFi, Blockchain-based games everything goes there. But how exactly will it work?
According to the statements of the CEO of KuCoin, Johnny Lyu, it is about accelerating the development of these technologies:
“The KuCoin Metaverse Fund will be launched to accelerate the evolution of the Internet industry. We hope to mature the emerging blockchain industry by further strengthening the application of blockchain technology to metaverse projects. ”
The objective is therefore to make the metaverse grow. While keeping it in a dynamic Blockchain and in a cryptocurrency ecosystem. At a time when Facebook is releasing its metaverse with great fanfare, this kind of initiative is welcome. Especially since many companies follow Facebook, without seeming to understand what is going on. For example Airbnb, which did not hesitate to position itself on the Metaverse after the statements of Mark Zuckerberg. However, these companies don’t seem to really know how a metaverse works. Nor what can be done about it. They just understood that it was trending. And they try to call themselves “Metaverse Friendly”. Thinking that this will be enough to relaunch their branding and marketing that has run out of steam.
A strategy reminiscent of Kraken’s slightly pathetic efforts to gain public attention on twitter.
The Metaverse is a space resolutely built by and for the blockchain. NFTs are the tools of choice for the development of these universes. Imagine for a moment. A metaverse can only be conceived in a decentralized manner. Like a Web 3.0. There is little chance that Facebook suddenly decides to give total freedom to Internet users. Nor that they let the creators do it in their private metaverse. This will not only limit creation and use, but also the axes of development. And with, the endless possibilities offered by a metaverse in the genre of Ready player One.
Blockchain is the dream base to build such a platform. And we can see that KuCoin’s ambition is not limited to investing in projects that develop all or part of a metaverse. On the contrary, the fact of also focusing on blockchain games, on NFTs, on DeFi shows the connection between these different areas. They are linked and they can open the doors to a new world where all sectors will be managed by blockchain and decentralized applications. Management that will be fairer for users but also more efficient, more profitable and more functional.
KuCoin’s ambition is not an isolated case. Many players in the cryptocurrency world offer funds and investments for blockchain projects. So of course, not everything that is foreign to Facebook is good and innocent. The money that KuCoin is going to issue will return to it one way or another. But a project built from its inception on a decentralized basis will have much more power than a centralized project. And more chance to evolve in the right direction.
Already, building a metaverse is incredibly complex. And if it’s the work of a single company or a private company consortium, it will take time. And it will probably be of poor quality. It takes a job that everyone can build on. A space in which each construction can be compatible with the next. However, this is precisely the kind of advantage offered by the blockchain, by cryptocurrencies, decentralization, DeFi, NFTs… In short, a Metaverse Blockchain.
For more information – see our “Buy Bitcoin” guide.
For a market with a bright future, anything is possible. The weight of the metaverse is expected to be around $ 1.5 trillion by 2030. Facebook has clearly positioned itself as a leader. Mark is probably hoping to get 90% of this jackpot back, as he has the overwhelming majority of social media back. But the metaverse will be built with the memory of Facebook. And no one wants to live in the scary demo that Mark Zuckerberg presented to the world a few days ago.
KuCoin in turn engages in the metaverse race. Decentralized projects have every chance of succeeding against Facebook. It is the power of the blockchain to make different projects compatible, to create an ecosystem with totally different applications that can interact with each other. Finally, financing like that of KuCoin, is the final touch that was missing to bring this ambitious project to fruition.