KuCoin Labs Launches $100M Fund Devoted to Metaverse Projects

The capital will also go towards NFT projects, blockchain-based games and other decentralized apps, according to the Seychelles-based company. 


Source: KuCoin


key takeaways

  • KuCoin Labs first announced a $50 million fund in April
  • KuCoin currently sits as the sixth-largest crypto exchange by volume, according to CoinMarketCap

KuCoin Labs, an investment arm of global cryptocurrency exchange KuCoin, announced the launch of a $100 million fund devoted to early-stage metaverse projects on Wednesday. The capital will also go towards blockchain-based games, non-fungible token (NFT) projects and other decentralized apps, according to the Seychelles-based company. 

“The metaverse space has just started with infrastructures and underlying technologies still under development. Therefore, we’ll focus on building metaverse infrastructure and accelerating the overall ecosystem at the initial stage by supporting diversified start-up projects in the metaverse field,” Lou Yu, head of KuCoin Labs, told Blockworks.

KuCoin Labs first announced a $50 million fund in April, advertising the investment arm as an incubation program for emerging crypto projects.  

Some could be wary of using KuCoin’s network following a $280 million hack on its crypto exchange last year. However, a majority of the stolen funds have since been returned.

According to Yu, the newly-launched fund should “establish a more private and secure Metaverse ecosystem.”

“We think that the security and privacy issue is one of the obstacles for its further development, and we hope to address the problem by supporting the construction of more secure and privacy-protecting Metaverse ecosystem based on Web 3.0,” Yu said.

KuCoin Labs’ portfolio consists of over 50 projects, including Ankr, MultiVAC, Arweave, CertiK, OneLedger and LUKSO. KuCoin currently sits as the sixth-largest crypto exchange by volume, according to CoinMarketCap.

“As the next chapter of the Internet, [the] metaverse is poised to change the way we work, connect, shop, entertain and have social interactions,” Johnny Lyu, CEO of KuCoin, said in a statement.

Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg


Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.


The fighting in pro wrestling is largely fake and the outcomes are mostly pre-determined, similar to Ethereum’s relationship with the crypto ecosystem


Shakeeb Ahmed was tied to two hacks, and the DOJ first filed an indictment against him in July of last year


HashKey is expected to be among the issuers who receive the green light, according to the report.


The “fastest-growing ETF in history” has seen net inflows on every trading day since its Jan. 11 launch


Relm and Chainproof will provide insurance quotes to distributed validators


DLC.Link uses a Taproot-based Bitcoin multisig to let institutions mint dlcBTC, starting on Arbitrum