KuCoin Labs, the incubator and investment arm of the KuCoin ecosystem, has announced a strategic investment in DeMR, a decentralized Mixed Reality (MR) infrastructure network (MR-DePIN) built on the Solana Chain.
This investment marks the beginning of a comprehensive collaboration in community operations and subsequent product development between KuCoin Labs and DeMR.
Lou Yu, Head of KuCoin Labs, stated that future growth in the DePIN track will incentivize more providers to join, creating a self-reinforcing, long-term growth cycle.
KuCoin recognizes the potential of the DePIN track
DeMR sets itself apart by seamlessly integrating MR and offering assets like Compass NFTs, Land NFTs, and Node License NFTs. These assets build connections within the DeMR ecology, enhancing real-world influence and economic value.
KuCoin, as a global cryptocurrency exchange, aims to thrive alongside DeMR and collaboratively unlock more opportunities for users in the future. The strategic investment underscores KuCoin’s recognition of the potential in the DePIN track and its commitment to the future deavelopment of the crypto industry.
MR stands for Mixed Reality, which is a blend of both augmented reality (AR) and virtual reality (VR). Mixed Reality combines elements of the physical world with digital content, allowing users to interact with both real and virtual environments simultaneously. MR enhances the user experience by seamlessly integrating computer-generated information into the real world.
MR-DePIN refers to the decentralized Mixed Reality infrastructure network. Specifically, MR-DePIN is built on the Solana blockchain. The term “DePIN” stands for “Decentralized Physical Infrastructure Network.”
Launched in September 2017, KuCoin is a global cryptocurrency exchange with a user-oriented platform, offering various services such as spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to over 30 million users in more than 200 countries and regions. KuCoin Labs, launched in May 2018, is the investment and incubation program of KuCoin. It focuses on market research, analysis, investment, and incubation in the crypto industry, aiming to support early-stage projects for sustainable growth and success in the decentralized world.
KuCoin Labs invested in ISSP and OOFP
The incubator arm of KuCoin has recently invested in ISSP to support the development of ISSP’s innovative inscription protocol, operating on the cutting-edge Sui network, renowned for its high throughput and scalability.
ISSP introduces the first cross-chain inscription protocol system that integrates an inscription marketplace and inscription swap, leveraging the unique Objects model of the Sui network.
The SUI-20 inscription standard protocol has been initially launched on the Sui network, utilizing the network node’s built-in indexer for indexing inscription data, ensuring optimal performance and a stable inscription experience. ISSP facilitates seamless inscription deposits into exchanges, eliminating the need for additional development by exchanges to integrate the inscription protocol.
Last week, KuCoin Labs partnered with OOFP, a project within the Bitcoin ecosystem, offering value-added services for assets like inscriptions, runes, and NFTs. OOFP employs a vault pool for mining, combining strategies like holding, staking, and DeFi to enhance asset appreciation and growth.
The project aims to create a vibrant ecosystem within the Bitcoin network, fostering asset appreciation and engagement. KuCoin Labs’ strategic partnership with OOFP signifies its commitment to supporting innovative blockchain projects. Lou Yu, head of KuCoin Labs, expressed enthusiasm, highlighting OOFP’s transformative potential in the blockchain tools landscape.
OOFP’s collaboration with KuCoin Labs will facilitate the expansion of ecosystem partnerships with all Bitcoin assets, including BIIS and DOVI.
