PRESS RELEASE. The latest strategic investment in emerging SocialFi startup Torum from KuCoin Labs will empower the development of a SocialFi Metaverse powered by VR and Web3.0 technologies.
4th November 2021, Kuala Lumpur, Malaysia — Following the strategic investment of Huobi Ventures and 20 other prominent crypto VCs, Torum SocialFi platform is excited to announce that the project has secured a strategic investment from KuCoin Labs, the $50M incubator and research arm of KuCoin.
The Torum KuCoin Ecosystem
Torum is a SocialFi Metaverse ecosystem that is specially designed to connect cryptocurrency users and projects. The Web 3.0 ecosystem is built with a social media platform with over 120,000 users at its core, integrated with an interactive yield farming platform, an NFT marketplace, and lastly the world’s first PFP Metaverse identity – Torum Avatar NFT.
Everything started when Torum announced the ambition to expand into the Metaverse and NFT on 27th September 2021. The SocialFi Metaverse concept has caught the eye of KuCoin Labs, which led to intensive meetings and follow-up calls between the two parties and lastly the strategic investment on Torum.
Lou, Head of KuCoin Labs stated:
“The beauty of Metaverse lies in its diversity. Social, Avatars, NFT collections, GameFi – Metaverse is going to change the world as we see it. This is merely the tip of the iceberg, and we look forward to support Torum’s vision to build a SocialFi Metaverse for the crypto users”
Ecosystem Expansion
As part of this strategic investment, Torum will be building an immersive and interactive SocialFi Metaverse ecosystem, where cryptocurrency users around the world can access Social, Decentralized Finance, NFT and Metaverse all in one place.
Yi Feng Go, CEO, and founder of
