KuCoin announces $100M fund for early-stage NFT creators

Seychelles-based cryptocurrency trading platform KuCoin has announced a $100 million "Creators Fund" aimed at early-stage NFT creators. This fund will be a complement to their newly-launched NFT marketplace in partnership with Windvane.

KuCoin was established in 2017 and claims to have hit 10 million registered users late last year. According to CoinGecko, the exchange facilitates $2.2 billion in trades every day.

The KuCoin Windvane NFT fund will focus on categories including art, sports, profile pictures (PFPs), Asian culture, celebrities, and GameFi.

The new fund will also invite 99 NFT creators to join the Windvane NFT marketplace, which helps them with standard features such as minting, trading, and storage. At the moment, Windvane supports some of the more popular NFT blockchains including Ethereum, Flow and BSC.

Johnny Lyu, CEO of KuCoin, said, "KuCoin NFT Marketplace – Windvane would like to bridge Web 2.0 and Web 3.0 by supporting more creators to launch their NFTs or projects and creating a more integrated NFT world with a lower barrier to entry for users.”

KuCoin Ventures CIO Justin Chou added, "With its user-first and community-driven mission, Windvane will support Web 3.0 creators globally to revolutionize the NFT industry."