KuCoin Labs Rolls Out Incubation Program with Univers Network to Boost Web3 Exploration

KuCoin Labs, the incubation and investment arm of crypto exchange KuCoin, has launched an incubation program with Univers Network to aid the exploration of the Web3 space. 


Lou YU, the head of KuCoin Labs, pointed out:

“KuCoin Labs aims to enhance Web-2 entrepreneurs’ understanding and adoption of Web-3. KuCoin Labs is advising Univers Network in various aspects, sharing knowledge regarding Web-3 community incentives, technical structures, business strategy, marketing orientations, fundraising, as well as go-to-market plans, etc.”

As a metaverse infrastructure project aimed at revolutionizing Web3 and empowering communities, Univers Network comprises more than 50 developers currently creating an SDK for metaverse interconnectivity. 


The incubation program also seeks to bridge the gap between E-Sports and blockchain technology, given that one of the primary objectives of the Univers Network is the unification of game engines. 


Per the report:

“The Univers Network is developing a proprietary mechanism called ‘Choose-to-Earn’, which will connect developers and users while creating value for the user bases of both projects involved. Its Decentralized Publishing Company (DPC) will be launched later this year, with additional projects and development studios to be involved in their ecosystem.”

Through the strategic partnership with Univers Network, KuCoin Labs seeks to have the resources and scalability to be a leading metaverse and innovative infrastructure solution. 


Crypto exchange KuCoin has shown its commitment to enhancing Web3 exploration, given that it recently rolled out a decentralized product dubbed KuCoin Wallet, Blockchain.News reported.


The wallet supported multi-chain aggregation powered by the KuCoin ecosystem. As a result, users can create a decentralized account for Web 3.0 in seconds and send, receive, and store BTC, ETH, USDT, USDC, BNB, and more tokens in one place.

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KuCoin Launches $100M Fund to Build Out Metaverse Projects

Key Takeaways

  • KuCoin Labs has announced a $100 million fund to support development of the Metaverse.
  • In addition to Metaverse projects, the money will also be used to fund Metaverse education programs.
  • The fund will help expand KuCoin Labs’ existing portfolio of over 50 projects.

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KuCoin Labs has announced a $100 million Metaverse fund to help develop and support early-stage Metaverse projects.

KuCoin Bets on Virtual Worlds

KuCoin Labs, the investment and research arm of crypto exchange KuCoin, has today announced a $100 million “KuCoin Metaverse Fund” that will help develop various early-stage Metaverse projects. Chosen projects will receive, in addition to money, “full-scale support and incentives in terms of incubation, primary market investment, business partnership, branding, market management, and go-to-market strategy.”

Money from the fund will also be allocated to Metaverse education programs, with the aim of attracting new talent to the space. The fund intends to promote Metaverse applications of blockchain technology globally, particularly in emerging markets like Africa and South America. 

KuCoin CEO Johnny Lyu praised the Metaverse as the “next chapter of the internet,” capable of changing “the way we work, connect, shop, entertain and have social interactions.” Lyu believes that applying blockchain technology to Metaverse projects will help further the blockchain industry as a whole. 

The fund will help expand KuCoin Labs’ existing portfolio of over 50 projects. Additionally, KuCoin Labs say money from the fund could also be allocated to projects and teams not exclusively categorized as Metaverse, but ones that are intimately related, such as GameFi, NFTs, and decentralized infrastructure.

Lou Yu, head of KuCoin Labs, remarked that the concept of the Metaverse might have remained theoretical if it were not for blockchain technology, which he theorized could help the Metaverse become “the next migration destiny for mankind.” Yu, however, cautioned that a balance needs to be maintained between privacy protection and technological advancement, adding that the “KuCoin Metaverse Fund is set to establish a more private and secure Metaverse ecosystem based on Web 3.0.” 

KuCoin’s new fund is not the first aiming to bolster Metaverse projects. Earlier in November, Enjin, an Ethereum-based NFT gaming platform, announced a similar $100 million fund to help accelerate development of its own Metaverse projects. Other prominent projects have also secured large amounts of funding, with Metaverse game The Sandbox raising $93 million in its latest funding round led by SoftBank.

Disclosure: At the time of writing, the author of this feature held BTC, ETH, and several other cryptocurrencies. 

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KuCoin Labs Launches $100 Million Venture Capital Fund To Empower Early-Stage Metaverse Projects

KuCoin Labs, the company behind the world’s sixth-largest cryptocurrency exchange by trading volume with more than 500 crypto assets listed, announced on Wednesday that it would be launching a $100 million metaverse fund for early-stage projects. The money is also available for entities that develop blockchain-based games, nonfungible tokens, and decentralized applications. In addition, Kucoin will also provide business incubation services, branding, incentives, and business partnerships for developers selected into the fund.

Johnny Lyu, CEO of Kucoin, said the following in a prepared statement obtained by Cointelegraph:

“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 the metaverse projects.”

Lou Yu, the head of KuCoin Labs, added:

“The concept of metaverse has remained at the theoretical level since it was proposed in the last century. It was not until the birth of the blockchain that metaverse became the next migration destiny for mankind.”

The concept of a metaverse, or augmented virtual reality with its own digital economy, has been gaining traction ever since Facebook rebranded itself as Meta last month to focus on its development. Shortly afterward, Microsoft ventured into the metaverse with Team updates and Xbox upgrades. Then, Animoca Brands unveiled its plans for a K-pop NFT Metaverse. As more global brands move in, the total addressable market of the Metaverse is projected to grow to over $1.5 trillion by the end of 2030. Meanwhile, debates are ongoing as to whether or not the Metaverse should be centralized.