KuCoin Launches $100 Million Support Fund for NFT Creators

KuCoin wants to strengthen the NFT ecosystem

KuCoin projectsCryptocurrency exchange and trading platform KuCoinwill create an aid fund worth 100 million dollars For young artists and creators of non-fungible tokens (NFTs).

The fund is called Creators Fund It will cover a wide range of blockchain projects, from esports to GameFi and Asian culture in order to promote Massive adoption of web 3.0 and the wider world of blockchain.

In addition, this financial support will participate in the launch of ” wind vane “, the new Dedicated platform for NFTs created by KuCoin Also announced today. This new space is defined as a more open and inclusive market to serve as a driving force for the industry as a whole.

Windvane will provide among other things Tools to mint, trade and store NFTs for its community. According to the press release, this new platform will focus on simplified processing and compatibility with major blockchains in the ecosystem such as Ethereum, BNB Chain or Flow.

to Johnny LiuCEO of KuCoin, Windvane will establish itself as a gateway between Web 2.0 and Web 3.0:

“The Creators Fund, which was awarded $100 million, will support the creators and projects of the NFTs, which will help strengthen the infrastructure of the metaverse. We are pleased to see the rapid development of NFTs as well as their incorporation into sports, culture, games, celebrities, etc. Windvane wants to connect Web 2.0 and Web 3.0 Helping more creators launch their NFTs or projects by creating a more integrated world of NFTs with a lower entry barrier for users. »

👉 Going Ahead: Metaverse – Understanding These Virtual Worlds Based on Blockchain and NFTs

Developing NFTs on KuCoin

With a scheduled release soon, but without an exact date, Windvane will benefit from existing KuCoin user trafficwhich currently occupies one of the best places in the stock exchange rankings in terms of daily volume.

According to the project team, existing NFT markets Don’t address the underlying issues, such as excessive clarity given to lower quality projects, higher transaction and rail costs or even difficulty finding specific specific projects. So Windvane will focus on all of these topics.

according to Justin ChuChief Investment Officer at KuCoin Ventures, the platform will put its community first:

“Through its user- and community-led mission, Windvane will support Web 3.0 creators around the world to revolutionize the Web 3.0 industry. We are pleased to partner with Windvane to launch the Creators Fund, which we believe will benefit users, creators, communities and project creators in the world of Web 3.0.”

KuCoin is currently in Fifth place among stock exchanges in terms of daily spot trading volume by more than 2 billion dollars were traded during the past 24 hours.

👉 Read Also: NFT Moonbirds Group Generates $300 Million in 3 Days

Sources: KuCoin (Relief Fund), KuCoin (Windvane)

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About the author: Maximilian Pro

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Passionate about the world of decentralized finance and the novelties that Web 3.0 has brought, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
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