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KuCoin Labs Q3 Industry Report Reveals Metaverse Will Challenge Internet 2.0 As Web 3.0 Rises

·3-min read

VICTORIA, Seychelles, November 30, 2021--(BUSINESS WIRE)--KuCoin Labs, the investment and research arm of global leading exchange KuCoin, has released the 2021-Q3 Crypto Industry Report. It looks at the latest developments in the crypto industry, deepening the assessment of the trending topics, and points out that Metaverse will challenge Internet 2.0 with the rise of Web 3.0.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005056/en/

KuCoin Labs 2021 Q3 Crypto Industry Report Goes Live (Graphic: Business Wire)

The Q3 report focuses on the trending topics in the crypto space and points out the future trends in each section. It analyzes the unique financial and economic attributes of GameFi that will continue to capture massive users and indicates the long-term compliance risks it may face. In addition, the report comments on DeFi as it entered a stable period with tightening global regulations after its explosive growth in Q2.

Following the heat of DeFi Summer, other trending areas such as NFT, GameFi, and SocialFi emerged by creating more value while aggregating an increasing amount of capital in the growing sectors. By diving deep into the blockchain infrastructure, the report also evaluates the current stage of Layer2 and figures out the intensifying market competition as Layer2 matures and when ETH 2.0 finally approaches.

The research findings also point out the great potential of further development in the Metaverse infrastructure, such as the tier architecture of the underlying blockchain, NFT, server and cross-chain stability architecture that constitute the trade chain of the virtual world; back-end infrastructure like GPU, artificial intelligence and cloud computing that supports the infrastructure of the Metaverse; and VR, AR, smart wearable device and other front-end that support the immersive experience.

According to Lou Yu, the head of KuCoin Labs, "Metaverse is becoming a new traffic portal for the crypto industry. However, as still in the early stage, the building of Metaverse infrastructure is one of the top priorities to be addressed. KuCoin Labs will continue to support Metaverse with high-quality research and the exploration of promising metaverse projects. Recently, KuCoin Labs launched a $100 million Metaverse Fund to empower early-stage Metaverse projects."

As stated in the report, "the target audience of the crypto asset industry is constantly expanding. In terms of both infrastructure and subsectors, this industry is attracting increasingly more people. With the improvement of blockchain underlying infrastructure, ETH 2.0 upgrade, and the launch of alternative expansion solution Polygon, user experience and stickiness will be greatly enhanced."

KuCoin Labs intends to release reports that will keep the industry as transparent and forward-thinking as possible. For the whole report, please contact labs@kucoin.com.

About KuCoin Labs

Founded in May 2018, KuCoin Labs is the investment and research force of the KuCoin ecosystem. KuCoin Labs diversifies and intensifies investments into projects at an early stage to help more builders achieve sustainable growth and success in the decentralized world. KuCoin Labs now possesses a portfolio of over 50 projects, including Arweave, MultiVAC, CertiK, OneLedger, LUKSO, and Ankr, in sectors such as infrastructure, DeFi, and NFT. In April 2021, KuCoin Labs established a $50 million fund to find the next crypto gem and empower the development of early-stage crypto projects. In November 2021, KuCoin Labs launched a $100 million Metaverse Fund to empower early-stage Metaverse projects.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 500 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the third biggest crypto exchange. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021.

To find out more, visit https://www.kucoin.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005056/en/

Contacts

Ashley Wang
media@kucoin.com

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