KuCoin Labs, the incubator and investment arm of the KuCoin ecosystem, has announced its investment in DeMR, a decentralized Mixed Reality (MR) infrastructure built on the Solana Chain.
This development marks the beginning of a comprehensive collaboration focusing on community operations and subsequent product development, according to the announcement.
Lou Yu, the Head of KuCoin Labs, highlighted the importance of this collaboration. He stated:
Future growth in the DePIN track will incentivize more providers to join in a self-reinforcing, long-term growth cycle. KuCoin Labs will support DeMR in its efforts to continue to achieve its key milestones.
KuCoin Labs said the partnership also underlines its deep understanding of the future trajectory of the crypto industry.
DeMR distinguishes itself in the MR landscape with its seamless integration of Mixed Reality. It boasts unique assets like Compass NFTs, Land NFTs, and Node License NFTs, which significantly contribute to strengthening the connections within the DeMR ecosystem.
These elements also enhance the real-world influence and economic value of the platform. With this investment, KuCoin said it is excited to grow alongside DeMR, aiming to collaboratively unlock more opportunities for users in the future.
KuCoin, launched in September 2017 with its operational headquarters in Seychelles, is a global cryptocurrency exchange. As a user-focused platform emphasizing inclusiveness and community action, it offers over 700 digital assets.
KuCoin’s services include spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 30 million users across 200 countries and regions.
Ranked among the top 5 crypto exchanges by CoinMarketCap, KuCoin was named one of the Best Crypto Exchanges by Forbes in 2023 and recognized in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.