LONDON, Sept. 14, 2021 /PRNewswire/ -- Huobi Ventures, the global investment arm of Huobi Group, today announced the launch of a new $10 million fund to invest in emerging GameFi projects around the world. The creation of this fund follows the launch of its $100 million DeFi fund in May this past year. In the following month of June, Huobi incubator program Huobi X Center was also established to help the growth and development of corresponding projects. These recent initiatives reflect the rapid growth of decentralized finance and its role in funding projects with new, differentiated business models. Huobi Group, Huobi X Center, and Huobi Eco Chain (HECO) will provide resources and support for investee projects incubated under this fund.
The GameFi concept has the potential to completely transform gaming business models. GameFi stands for "Game+DeFi", which refers to blockchain gaming integrated with DeFi mechanisms. GameFi business models enable players to obtain a share of the dividends reaped from game development, with their most common feature being "Play to Earn". The open nature of blockchain can make the virtual economies of such games more dynamic. Data on the blockchain is open and accessible, meaning that developers can use it to explore new business models based on digital assets, such as the trading of in-app purchases and equipment.
Huobi Ventures encourages interested applicants to e-mail [email protected] with more details about their GameFi projects. Under the program, Huobi Ventures will provide bespoke support to investee companies and projects through the following:
- Customized service plan. Huobi Ventures could provide marketing and PR support, financial and legal advice, and introductions to potential partners.
- Technical support, for deployment on Huobi Eco Chain(HECO). HECO will provide full-process technical support for incubated projects.
- Commercial assistance. For select projects, Huobi Global could provide a special channel to list tokens and offer additional opportunities to drive user awareness.
"This $10 million fund aligns with Huobi Ventures' goal to grow the blockchain ecosystem for a digital economy, and to support and promote developers who work on cutting-edge GameFi projects. We will provide support and resources to help these projects scale and take advantage of Huobi Group's ecosystem," said Unica Yin, Director of Strategic Investments at Huobi Ventures. "We hope that this will enable more start-up GameFi projects to make an impact on the blockchain world."
As the investment arm of Huobi Global, Huobi Ventures possesses unique insights into the development of new, cutting-edge technologies. Supernova, Immutable, and Rangers Protocol were some of the first GameFi projects to be invested by Huobi Ventures. Going forward, Huobi Ventures will provide assistance to help each of them scale and make an impact on the gaming industry. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively.
Companies working in the GameFi space should send an e-mail to [email protected] to see how Huobi X Center can help your project develop, strengthen, and excel! Other companies can reach out to [email protected] for venture capital investments under Huobi Ventures.
About Huobi Group
As a world-leading blockchain company, Huobi Group was founded in 2013 with a mission to make breakthroughs in core blockchain technology and further the integration of blockchain technology with other industries. Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more. Huobi Group has established a global digital ecosystem through investing in over 60 upstream and downstream companies across the blockchain industry. For more information, visit: https://www.huobi.com/
About Huobi Ventures
Huobi Ventures is a wholly-owned subsidiary of Huobi Group that focuses on global investments. Huobi Ventures' structure is divided into four business lines: Strategic Investment, Strategic M&A, Asset Management, and Global Cooperation. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively. Huobi Ventures aims to drive growth for Huobi Group and create a global ecosystem with our partners. For more information, visit: https://huobi-ventures.medium.com/ or https://twitter.com/HuobiVentures/
About Huobi X Center
Huobi X Center is a newly established incubator program that is designed to empower emerging projects and startups by providing them with a range of resources. With an emphasized focus on new technologies and emerging sectors such as DeFi, NFTs, distributed storage, and other innovations, Huobi X Center will enable the development of innovative start-up projects so that they can make a broader impact on the blockchain industry as a whole.
HECO is an EVM-compatible public chain that provides blockchain developers with an efficient and low-cost on-chain environment for decentralized applications (dApps), smart contracts, and digital assets. HECO has recorded approximately 12.5 million total addresses with 463 million transactions made on the platform. For more information, visit: https://www.hecochain.com/
SOURCE Huobi Ventures