Published: 19.04.2022
Article reading time:
1 min.
Cryptocurrency exchange KuCoin creates Creators Fund to support Web3 projects and help NFT startups.
KuCoin and non-fungible token marketplace Windvane have agreed on a $100 million fund, BusinessWire reports. The fund will have to sponsor projects of content makers at different stages of development, as well as help them scale their business and enter larger markets.
The company emphasizes that they will focus on promising startups that will contribute to the development of the Web3 industry. Windvane is KuCoin’s NFT marketplace that aims to meet the needs of the exchange’s customers to purchase collectible tokens. Currently, KuCoin is the fifth largest exchange in terms of trading volume in the world.
According to the CEO of the exchange Johnny Liu, the company expects to see the rapid development of the Web3 infrastructure and the metaverse through integration with sports, games and celebrities. At the same time, Windvane does not expect a sharp replacement for Web2, on the contrary, developers would like Web2 and Web3 to merge, thereby providing developers of both web spaces with opportunities for growth and development.
What authors or startups will be sponsored immediately after the opening of the fund is unknown. However, the company is already waiting for applications from industry representatives.
Recall that at the end of January, KuCoin integrated support for the Single Euro Payments Area. Users of the European Union will be able to replenish exchange accounts with fiat money in the amount of up to $1.1 million.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
