Seychelles-based crypto exchange platform, KuCoin has just announced its entry into the Metaverse/virtual reality space. The company stated its intent to make explorations in the metaverse space.
Kucoin and Univers Network To Enhance Metaverse Connectivity
The collaboration between the two high-profile projects was announced earlier via a tweet from the KuCoin Twitter handle. However, the crypto exchange company may not be affected or take part in the metaverse program as the company announced that its arms would be responsible.
Excerpt from the tweet “At KuCoin Lab, we aim to educate and upgrade business owners and entrepreneurs from Web2 to Web3 technology. We are collaborating with Univers Network to seek knowledge and disseminate business operation, community relations, marketing plans knowledge in Web3”.
The incubations and investment arm named KuCoin Labs will be responsible for the collaboration and partnership with the Web3 metaverse structural program. KuCoin Lab was created in 2018, a year after the crypto exchange was launched.
This arm was developed to carry out extensive research and analytics in the cryptocurrency space. The lab comprises professional and experienced crypto users and technicians to research, invest, and partner to develop a more decentralized cryptocurrency space. However, the platform seems interested in the Metaverse industry/space.
Univers Network, a web3 virtual reality program, will embark on a collaborative journey with Kucoin. The network has been a tool for revolution for underdeveloped communities, blockchain interoperability, fundraising market strategy, and others.
KuCoin and Univers Network To Develop Virtual Games
The project aims to enhance interest and interoperability in the metaverse space. Univers Network is a well-organized and resourced project with large numbers of developers across the globe.
According to the announcement, the programmers and developers are working on a Software Development Kit from their end. This kit will enhance interconnection and interoperability in the metaverse space. The SDK is built based on a game and virtual reality elements with the infusion of blockchain technology.
A process called “choose to earn” will be used by the Univers Network to connect its developers to the users. The ecosystem will be built to create a unique and memorable virtual interaction world for users.
KuCoin Lab stated that it would be actively involved in the metaverse space to keep making waves and exploring. The company also announced creating a DCP (Decentralized Publishing Company).
KuCoin has joined the list of crypto exchange platforms to enter the metaverse and virtual reality space. The high rate of migration of companies/platforms from one industry/niche to another has become alarming over the past few months.
Several digital, banking, and technology companies have migrated into the cryptocurrency space/industry. Crypto companies are entering the metaverse/virtual reality space.
This high migration has triggered the attention of regulatory agencies in some countries. The United States Security Exchange Commission and the Commodity Future Trading Commission are currently at war, inhibiting the high contagion migration.