Crypto exchange KuCoin’s venture capital arm and nonfungible token (NFT) marketplace have launched a $100 million “Creators Fund” to help bootstrap early-stage NFT projects at the intersection of art, sports and GameFi.
KuCoin Ventures and the Windvane NFT marketplace have created the fund to help artists and creators showcase their work and scale their business to wider audiences, the companies announced Tuesday. The fund’s mandate is to support promising NFT projects that are contributing to the development of Web3, which refers to the next iteration of the internet powered by blockchain technology.
Windvane is a new NFT marketplace from KuCoin that aims to tap into the crypto exchange’s large user base. At the time of writing, KuCoin was the fifth largest crypto exchange by volume, according to CoinMarketCap.
The rise of Web3 has given creators a new venue to mint NFTs that have real utility inside virtual worlds. Yet Siu, the co-founder and chairman of venture capital…