KuCoin Launches $ 100 Million Support Fund for NFT Creators

KuCoin wants to improve the NFT ecosystem

KuCoin Venturesthe purchase investment fund and cryptocurrency trading platform KuCoincreate an aid fund to $ 100 million for young artists and creators of non-fungible tokens (NFTs).

The fund, called Creators Fund “, will cover a wide range of blockchain projects, from esports to GameFi and Asian culture to develop a for greater adoption of Web 3.0 and the wider blockchain world.

In addition, this financial support will participate in the launch of “ Windvane “, the new platform dedicated to NFTs made by KuCoin also announced today. This new space is defined as a more open and inclusive market place to serve as a driving force for the industry as a whole.

Windvane will provide other items tools for mining, selling and storing NFTs for its community. According to the press release, this new platform will focus on simplified management and compatibility with key blockchains in the ecosystem such as Ethereum, BNB Chain or Flow.

For Johnny Lyuthe CEO of KuCoin, Windvane will establish itself as a gateway between Web 2.0 and Web 3.0:

“The Creators Fund, which has been awarded 100 million dollars, will support NFT creators and projects, helping to consolidate the infrastructure in the metaverse. We are pleased to see the rapid growth of NFTs as well as their development -first in sport, culture, games, artists, and so on. Windvane wants to bridge Web 2.0 and Web 3.0 helping multiple creators launch their NFTs or projects by creating a more unified world of NFTs and having a lower barrier to access for users. »

👉 To keep going: Metaverse – understanding these virtual worlds based on blockchain and NFTs

The rise of KuCoin NFTs

With a release scheduled soon, but no specific date announced, Windvane will benefit from KuCoin’s current user trafficwhich currently occupies one of the best places in the ranking of exchanges in terms of daily volume.

According to the project team, the current NFT markets do not discuss basic issues, such as the excessive visibility provided by low quality projects, high transaction and mining costs or even the difficulty of finding specific projects. So Windvane will focus on all of these topics.

According to Justin Chouthe Chief Investment Officer of KuCoin Ventures, the platform will lead its community:

“With a user-driven and community-driven mission, Windvane will support Web 3.0 creators around the world to transform the Web 3.0 industry. We are excited to partner with Windvane to launch the Creators Fund, which we believe will benefit to users, creators, communities and project creators in the Web 3.0 world. »

KuCoin is now on 5th place among exchanges in terms of daily volume area with the above 2 billion dollars was sold in the last 24 hours.

👉 Read also: NFT Moonbird Collection Makes $ 300 Million in Volume in 3 Days

Source: KuCoin (relief fund), KuCoin (Windvane)

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About the Author: Maximilien Prue

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Enthusiastic about the world of decentralized finance and the new things Web 3.0 brings, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change in the near future.
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