Crypto exchange’s venture arm backs Web3 gaming platform

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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.”

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