MultiVerse, AI powered decentralized ecosystem, will be launched on the Kucoin Win, a new section of the KuCoin exchange that proposes to combine entertainment with the token listing.
KuCoin is one of the largest crypto exchanges and it hopes to distribute five million tokens of MultiVerse through its first game product LuckyRaffling. It is a very simple game where users enter the game by exchanging their tokens for lucky codes and once all the codes are sold out, a raffle will be held and the winners will be given prizes in the form of physical gifts or tokens.
“Despite the explosive growth in 2021, there are currently less than 2% of people holding crypto assets in the world, and the entire industry is still in the early stages. KuCoin has been committed to contributing to the mass adoption of blockchain technology and cryptocurrency,” said Johnny Lyu, CEO at KuCoin Global, “KuCoin Win, which combines gamification and token distribution, is our latest attempt. We are happy to start this new adventure with the Multiverse team, and we look forward to having more users invest in promising blockchain projects in the early stages through a more interesting, fair, and low-threshold way offered by KuCoin Win.”
This is just the first of several games and game modes that KuCoin Win hopes to launch on its platform. The exchange views it as a means to opening up the crypto market to more users like the use of tokens in games is likely to attract gaming users and this is a way of marketing the crypto tokens and products to them.
Cliff Szu, Co-founder of Multiverse, said “We are excited to partner with KuCoin to launch our token AI, which can be used to stake in A.I. projects to support Multiverse app, development teams.”
The crypto community and the exchanges are eyeing a very large market as still a majority of traders and the general public continue to view the field with suspicion for the risks involved. The crypto companies believe that gaming and sports could be the next target for them as these are universal and it’s easy to gamify tokens and tokenize games as well. This two-way relationship makes the users on either side identity themselves with the other side more easily and hence the conversions are easier in these cases. Going forward, we are likely to see more and more exchanges and other crypto companies trying to woo sports and esports lovers.