Huobi funds $100 million campaign for Metaverse development

Huobi Global, one of the world’s leading digital asset exchanges, today announced the official launch of its Lunar New Year campaign, dubbed Prime Fest: Tiger Year.

This campaign, which runs until February 14, 2022, urges visitors to investigate future possibilities in the metaverse. A vast network of virtual worlds that may in the future include augmented reality. Moreover virtual reality, 3D holographic avatars, video, and other forms of communication.

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Huobi is giving away US$100 million in prizes and awards to encourage the growth of the metaverse. Moreover ncluding access to new metaverse token listings through Primelist. High-yielding asset management products through PrimeEarn, and special blind box draws through PrimeBox.

Participants will also be able to register for DIDs (decentralized identifiers), which are personalized virtual identities in the metaverse; these users will be eligible to win one-of-a-kind NFT avatars with a tiger theme.

Huobi’s DIDs serve as users portals into the metaverse

Huobi’s DIDs serve as users’ portals into the metaverse, bridging Web2 with Web3.¬†Metaverse users often consider DIDs to be a must-have in order to access the metaverse. Not only do they provide access to the metaverse. However they also provide a way to document and confirm all transactions on blockchains.¬†Users get security, ownership, and interoperability with DIDs.

At the end of 2021, Huobi’s NFT platform developed its own DIDs to grant chosen users access to unique NFT releases, airdrops, and other special advantages.

Huobi Co-founder Du Jun stated, “Our emphasis on the metaverse reflects our ambitions to create a more entertaining and distinctive crypto experience.” In addition “we’re not your typical spot trading platform. By gamifying our trade, we aim to make trade more enjoyable by offering a wide range of products and services.”

Huobi has been supporting GameFi and metaverse projects through investments and token listings

Huobi has been investing in and listing tokens for GameFi and other metaverse companies. The company created a $10 million fund in September 2021 to invest in new GameFi projects. Zuki Moba, a Vietnam-based community-oriented MOBA Esports Game (Multiplayer Online Battle Arena), and Initiative SEED, a GameFi project using a “Play to Earn” concept, are two of the fund’s investments.

Huobi has listed tokens like Decimated (DIO), a multiplayer online roleplaying game set in a dystopian cyberpunk metaverse, and ERTHA, a game that allows players to explore and study a virtual world by specializing and strengthening their own NFTs and countries, throughout the previous year.

Image credits: Shutterstock, CC images, Midjourney, Unsplash.

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