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. 

article-image

Source: KuCoin

share

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.


Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research

article-image

Chainalysis, Kraken, Fireblocks and Gemini are on the list, but we might not see a redo of Circle’s success

article-image

The startup should try to “redefine how crypto and media interact,” Mert Mumtaz said

article-image

President Trump’s feud with Elon Musk took a backseat as investors digested a better-than-expected labor report

article-image

The event, cohosted with FWB, helps devs accelerate their World mini apps and find funding along the way

article-image

Real-time slashing, isolated vaults and a yield tug-of-war between sGHO and stkGHO

Gemini announced its intentions to go public just a day after Circle’s IPO