Cryptocurrency NewsDeFi

Huobi Ventures is Making Significant Investments to Promote Gaming on DeFi

In the cryptocurrency industry, Huobi exchange is one of the largest cryptocurrency exchanges in the entire world. It is considered one of the major competitors of exchanges such as Binance, which is the largest cryptocurrency exchange. Furthermore, the exchange is also compared with Coinbase, which is currently the fastest growing exchange in the world.

With the passage of time, Binance and Coinbase have continued growing bigger with their venture and expansions. The growth rate that these two major cryptocurrency exchanges demonstrated was unmatched by any other exchange in the world.

However, Huobi exchange has now decided to follow these exchanges and its ultimate goal is to take the lead. Therefore, the exchange is now taking an approach that is different from Binance and Coinbase. While Binance and Coinbase both have started growing outside of the crypto-verse, Huobi exchange aims to become an entire galaxy within the crypto-verse.

The exchange wants to stay loyal to the cryptocurrency sector by becoming part of new projects being launched within the cryptocurrency industry. This is the reason why Huobi Venture, Huobi’s investment arm has recently made an investment in an interesting crypto-space.

The investment firm has announced that it has dedicated a $10 million fund that will be invested towards the development and betterment of the gaming sector within the crypto-verse.

In the past few months, the decentralized finance gamification has caught the attention of many investors in the industry. However, not many cryptocurrency exchanges have paid attention to this space. Therefore, Huobi has found it to be the perfect opportunity for calling dibs on this space.

The investment arm of Huobi has announced that the $10 million funding will be used for the early-stage gamification in the decentralized finance sector. Surprisingly, the cryptocurrency industry has even dubbed the particular space as “GameFi”.

The term GameFi means that projects where the gaming features are combined with that of decentralized finance. This way, the users not only get to experience new, cool, and interactive games, but they also gain the opportunity of earning from them.

Huobi Ventures has announced that it will be directing its investments towards gaming platforms that operate through blockchain networks. The second condition for their investments would be that the games must be launched with decentralized finance features integrated into them.

With the help of play-to-earn features, the players are able to earn money while playing games through the decentralized finance system. The players are able to generate dividends from the funds they earn through the feature.

The firm has revealed that $10 million is the initial allocation that it has made for GameFi. The firm is going to invest $90 million more in decentralized finance gaming.

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