Crypto exchange’s venture arm backs Web3 gaming platform

Image Credit: Pixabay

KuCoin Ventures, the venture arm of KuCoin, a Seychelles-headquartered cryptocurrency exchange, is investing $1 million in a new gaming platform and developer for Web3.0 and the metaverse. The investment in SakuraVerse is the first for Kucoin Ventures’ planned $100 million Creators Fund which was launched by the corporate venture capital unit two weeks ago. The terms of the investment inf SakuraVerse have not been made available.

“We believe that in Web3.0 – the next-generation Internet – gaming plays an important role as a kind of ‘prototype’ of the Metaverse,” noted Kucoin Ventures’ Chief Investment Officer Justin Chou. “And we believe that the SakuraVerse team has the strength to create multi-genre games with more fun, stronger social attributes, longer life cycle, and more suitable for players in Web3.0.”

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.