Huobi Incubator Establishes Strategic Partnership with Relation Labs to Harness Data Value in the Web3 Era

LONDON, April 18, 2022 /PRNewswire/ -- Huobi Incubator, the project incubation arm of Huobi Group, today announced a strategic partnership with Relation Labs, a project specializing in the creation and harvesting of data in the Web3 age.

The partnership will witness Huobi Incubator redouble efforts to drive Relation Lab's growth by offering the latter a full suite of supporting services, such as marketing support, financial consultation, business model guidance, and more. In addition, Huobi Incubator will provide community engagement to increase market awareness of Relation Labs and its Web3 Social Graph project.

This in-depth cooperation between Huobi and Relation Labs shows how far the Web3 field has come since October 2021, when social media giant Facebook, with 2.8 billion users, announced it was changing its name to "Meta." The Web3 boom has taken off since, and NFT became the word of the year. Today, various parties such as investment institutions, public chains, and companies are actively attempting to participate in the GameFi circuit, with P2E, Free to Play, and Play for Fun concept games popping up all over the place. In addition, the total market TVL (total value locked) of DeFi (Decentralized Finance) has reached US$244 billion. All these changes have introduced the crypto market to the masses and made people aware of the importance and value of personal social data.

Aiming to build a multi-chain decentralized Web3 social graph, Relation Labs has adopted a range of advanced technologies, including artificial intelligence, to empower users and Web3 data producers with 100% ownership, allowing everyone to create and harvest data value in the Web3 ecosystem in an open and simple way.

With the support of strategic partnership, Relation Labs intends to accelerate its development process, leverage resources to spur the development of the ecosystem, and expand its business to further develop a Global Social Relation Graph – the infrastructure of the next-generation Web3 Social Graph.

"Relation Lab's Web3 Social Graph project will provide solutions to address user-growth dilemmas surrounding current SocialFi and startup projects that are sorely needed in the market today," said Jewel Chen, head of Huobi Incubator. "Our professional guidance and resources will allow both parties to mutually benefit and look forward to unlocking a new paradigm of social network Dapps in the near future."

"Our partnership with Huobi Incubator will greatly benefit development of Web3 Social Graph and promote Web3 innovation," said Jessica C, founder of Relation Labs. "We hope this long-term vision of ours will come to pass as we work with the best expertise and resources in the crypto space that Huobi Incubator will provide."

About Huobi Incubator

Huobi Incubator is a professional, full-cycle project incubator that integrates industry research with investment funds, incubation processes, and accelerators. With the mission of accelerating startup project development across all stages and users, Huobi Incubator helps entrepreneurs and startups overcome obstacles, achieve rapid growth, and work toward their respective visions and goals. 

About Relation

Relation aims to explore the value of social graph data on Web3. Our vision is to provide the most powerful and rich social graph data for multiple global blockchain systems and to explore new paradigms connecting people, organizations, relationships, and behaviors – serving as the next generation social networking infrastructure on Web3.

SOURCE Huobi Incubator