Cryptocurrency Exchange KuCoin Releases $100 Million Fund Aimed at NFT Creators

Crypto exchange KuCoin has announced the launch of a $100 million Creators Fund designed to fund early-stage startups in the non-fungible token (NFT) space.

The fund is a joint initiative of KuCoin’s Windvane NFT marketplace and the exchange’s investment branch KuCoin Ventures.

As a first step, the Creators Fund will invite 99 well-known NFT creators to join Windvane. The platform will connect companies and artists issuing their tokens with the KuCoin audience.

The Windvane team intends to add trading of tokens issued on the basis of Ethereum, BNB Chain, Flow and other networks popular in the NFT space. The marketplace will also host initial sales of collections of non-fungible tokens – INO (Initial NFT Offering).

The KuCoin management team announced in December last year that the number of users registered on the trading platform had reached 10 million.