KuCoin Ventures announces investment in Pixie, a web3 version of TikTok and Instagram

KuCoin Ventures announces investment in Pixie, a web3 version of TikTok and Instagram

Victoria, Seychelles KuCoinone of the world’s leading cryptocurrency trading platforms, announced that its venture capital arm KuCoin Ventures is making a strategic investment in Leprechaunthe world’s first fully encrypted photo and video sharing social network on Web3 with the SocialFi concept.

Pixie is an entertaining social media platform that can allow users to earn cryptocurrency. Like a web3 version of TikTok and Instagram, Pixie has taken the lead in bringing SocialFi to the world. Using NFT technology, Pixie users will get all rights to their digital content, such as ownership. With the help of NFT technology, Pixie is a pioneer in copyright protection for digital content from the very beginning of the initial content creation.

KuCoin Ventures’ new funding announced today will be used to support the expansion of Pixie’s team and many other aspects, such as product, technology and security, to improve its user experience and launch more innovative products.

Justin Chou, Chief Investment Officer of KuCoin, said, “Pixie offers a fully functional and highly competitive product that users can download anytime from the App Store. Pixie will make huge and continuous profits through advertising, which means that Pixie is quite different from the project which relies on the membership of more paying users. As a Web3 version of Instagram or Tiktok, I think Pixie has huge imaginative space in the future.

Amjad Suleman, Chief Commercial Officer of Pixie, said: “Pixie is founded on the idea that the public will realize that multinational social media companies are making billions from their content, and they won’t see it. a cent. Using our cutting-edge knowledge of blockchain technology, we have built what we believe to be the world’s first SocialFi network. Ensuring users have true ownership of their content is what Pixie is all about, and we hope this will spark the start of the “socialize to win” era. The investment is vital for Pixie’s next stage of expansion. It is an honor to receive investment from KuCoin. With their support, we will work to further improve the SocialFi ecosystem and facilitate the free flow of asset values.

About Pixie

Pixie is the world’s first fully functional photo and video sharing social network on Web3 with SocialFi concept. Users can earn PIX crypto from their creations and social activities such as Post, Like, Repost, etc. Pixie allows Web3 users to display their Ethereum NFT asset in the Pixie app and share their NFT with other users while earning PIX rewards as a result. Pixie gave users real ownership of their data. Users can print their messages on NFTs, which can be easily exported to other supported platforms. Pixie sets a whole new “Creator Crypto-Economy” model and works with all of its users to build and grow a decentralized social network where users can manage and share value and profits.

Over the past few months, Pixie has reached over 200,000 registered users and 20,000 DAUs, who have already contributed over 7 million posts, including photos and videos. Pixie became one of the biggest social networks of the Web3 era with the SocialFi concept.

To learn more, visit https://www.pixie.xyz

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusivity and reach for community action, it offers over 700 digital assets. Currently, it offers spot trading, margin trading, P2P fiat trading, futures trading, staking and lending to its 20 million users in 207 countries and regions.

In 2022, KuCoin raised over $150 million in investments in a pre-Series B round, bringing total investments to $170 million with the combined A round, for a total valuation of $10 billion. of dollars. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021, Forbes named KuCoin one of the best crypto exchanges. In 2022, The Ascent named KuCoin the best crypto app for enthusiasts.

To learn more, visit https://www.kucoin.com

About KuCoin Ventures

KuCoin Ventures is a premier investment arm of KuCoin Exchange that aims to invest in the most disruptive cryptocurrency and blockchain projects of the Web3.0 era. With a commitment to empowering Crypto/Web 3.0 builders with in-depth insights and global resources, it is also a large-scale, community-driven, research-driven company that focuses on DeFi, Game-Fi , Web 3.0, infrastructure, working closely with its portfolio projects throughout the entrepreneurship journey.

To learn more, visit https://www.kucoin.com/kucoin-ventures


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