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NOVEMBER 1, 2021 — Huobi Group announced today that it has launched a trial of Huobi NFT (a non-fungible token marketplace) which allows users to buy NFT artwork, collectibles and other digital goods. Huobi’s NFT marketplace is a significant milestone in its Metaverse strategy expansion, which also includes the launch of Huobi Ventures $10 million GameFi fund. Huobi’s global expansion strategy will include the marketplace, which adds a new asset type to its portfolio of crypto- and blockchain-focused products.
Huobi’s NFT marketplace is a way for the company to capitalize on a rapidly growing, but still emerging market. NFTs saw a surge in growth throughout 2021. NonFungible.com reports that the market had reached $2.5 billion in sales in July 2021. This is a significant increase from the $13.7 million it saw in the first half 2020. Market growth is also increasing as popular NFT projects, from celebrity-backed platforms and gaming-related collectibles, take off. This is similar to Decentralized Finance (DeFi), which saw a significant increase in sales over the past year. It has attracted the attention of both institutional and retail investors.
Huobi is expanding its services and initiatives to support projects in this emerging market. This includes investments and incubation.
Jeff Mei, Huobi Group’s Director of Strategy, stated that the NFT market has seen an explosive growth comparable to DeFi and public chains over the past few year. “NFTs have opened the eyes of the public to the many blockchain applications available. NFTs are a powerful concept that provides immutable proof ownership. We’re excited to see what our NFT marketplace brings.
Huobi’s NFT Marketplace will be focused on three key features in keeping with its global strategy, commitment and dedication to users, as well as the company’s commitment to protecting their assets.
Many sectors and partners. Huobi’s NFT marketplace is home to many NFTs including music, art, and games. For special collaborations, the marketplace will partner with celebrities such as singers, artists, and other intellectual property.
Tailored to local markets Many NFTs markets aim to attract users all over the globe, but the Huobi NFT Marketplace will be able to tailor the user experience and curate offers based on each market’s preferences and trends.
Support for the Huobi Group ecosystem. The Huobi Group ecosystem will provide support for the Huobi NFT marketplace. It will be able to offer substantial support and resources to its users and partners.
Mei said, “Huobi has been involved in projects in the GameFi (DeFi, gaming) and NFT markets. Therefore, the launch of the Huobi NFT market has been in the planning for some time. We are excited to introduce this project to the global community.”
About Huobi Group
Huobi Group is a leading blockchain company. It was established in 2013 in order to advance core blockchain technology, and integrate blockchain technology with other industries. Huobi Group’s products and services have been expanded to include public blockchains, wallets and mining pools, private investments, project incubation and digital asset research, as well as digital asset trading and digital asset trading. Huobi Group established a global digital ecosystem by investing in more than 60 companies upstream and downstream of the blockchain industry.
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