Quick take:
- KuCoin Ventures has invested in Joyride games a Web3 publishing platform for game creators.
- The investment is part of KuCoin’s newly launched $100M creators fund.
- The fund targets exciting Web3 projects including promoting the global mass adoption of blockchain.
KuCoin Ventures has invested in blockchain gaming infrastructure provider Joyride Games as part of its newly launched $100 million creators fund. KuCoin Ventures is the investment arm of the leading crypto exchange platform and NFT marketplace service provider KuCoin.
The $100 million Fund was launched to help young artists and creators showcase their talents to the world. It also aims to build an open, free, equal, and decentralized NFT marketplace.
Some of the non-fungible tokens (NFTs) projects covered by the fund include sports, PFP, Asia Culture, celebrities, GameFi. KuCoin is looking to accelerate the mass adoption of blockchain technology by onboarding the next generation of creators.
Joyride becomes one of the first companies to be enlisted in the $100 million Program. The Web3 publishing platform offers blockchain game creators developer tools, go-to-market support, and related decentralised technologies required to bring NFTs and games to casual mobile gamers.
KuCoin Ventures is not the only VC to invest in Joyride. In January, the blockchain infrastructure provider raised $14 million from leading Web3 investment companies including BITKRAFT Ventures, Coinbase Ventures, Animoca Brands, and Solana Ventures.
The new funding received from KuCoin will be used to expand Joyride’s team, beef up the publishing platform, and launch the company’s inaugural game titles.
Commenting on the new investment, Justin Chou, the Chief Investment Officer of KuCoin said: “We are deeply excited to work with the Joyride Games team, who has extensive game and blockchain experience and aims to bring their vision of Web3 to revolutionize the gaming industry by building approachable games on blockchain for consumers.”
On the other hand, Omar Siddiqui, The CEO of Joyride Games commented: “We see the broader market need for accessible, fun experiences large audiences can enjoy anywhere – that’s why we are building the casual game publishing platform for the Web3 era.”
Siddiqui lauded the support received from partners like KuCoin Ventures saying “Joyride has the long-term support and strategic backing to build for the long term.”
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