KuCoin is the latest crypto exchange to enter the NFT space, and its $100 million fund will help boost activities in the marketplace.
KuCoin Ventures, the venture capital arm of leading cryptocurrency exchange KuCoin, and Windvane, the nonfungible token (NFT) marketplace powered by KuCoin, have launched a $100 million ecosystem fund.
Called the Creators Fund, the $100 million support and incubate the early-stage NFT projects that would launch on the Windvane marketplace. The fund will support projects focusing on arts, sports, PFPs, Asian culture, celebrities, GameFi and more.
According to the press release, Windvane said it aims to create a comprehensive and highly compatible platform that will openly support mainstream NFT blockchains, allowing everyone to select all NFTs on KuCoin cross-chain aggregator and one-stop shopping for the world’s top NFTs at Windvane.
Johnny Lyu, the CEO of KuCoin, said:
“The $100M ‘Creators Fund’ will support NFT creators and projects, which will further consolidate the metaverse infrastructure. We are pleased to see the rapid development of NFTs and their integration with sports, culture, games, celebrities, etc. KuCoin NFT Marketplace – Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.”
KuCoin Ventures said the Creators Fund would help young artists and creators show their talents to the public. It will also empower Windvane to be a more open, free, equal, and democratic decentralised NFT marketplace.
Windvane said its focus is to create a comprehensive and highly compatible platform that will openly support mainstream NFT blockchains, including ETH, BSC, FLOW, etc.
KuCoin Ventures’ Chief Investment Officer, Justin Chou, said as an emerging NFT marketplace, Windvane will support Web 3.0 creators globally to revolutionise the NFT industry. He added that;
“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.”
In addition to establishing the Creators Fund, Windvane will initiate a series of activities to celebrate the platform’s launch.