Huobi reveals support campaign for the metaverse

Huobi Global has developed a Lunar New Year campaign to urge users to think about the metaverse’s future possibilities. The campaign, which runs through February 14th, 2022, will award USD$100 million in incentives to supporters. Including access to new metaverse token listings on Primelist.

Registrants will also have the chance to win unique NFT avatars with a tiger theme by registering for DIDs (decentralised identifiers).



Huobi are avid supporters of the metaverse and blockchain

In September, Huobi announced a new USD$10 million fund for investing in global future GameFi initiatives. “Blockchain gaming integrated with DeFi mechanism” is what GameFi stands for. The platform in Seychelles developed the program so that GameFi startup projects could take advantage of the blockchain ecosystem.

“Our emphasis on the metaverse reflects our aims to create a more entertaining. And distinctive crypto experience,” Huobi co-founder Du Jun says of their recent development fund.

“We’re not just another spot trading exchange,” they add. “We take pride in our wide range of products and services, and our promotions are aimed to make trade more enjoyable by gamifying it.”

The news comes as the cryptocurrency sector hits a six-month low on concerns that the US Federal Reserve may tighten regulations “until the inflation picture changes”. According to Goldman analyst David Mericle in a client statement.

The announcement also accompanies a draft proposal by Russia’s central bank

The news comes alongside a draft proposal from Russia’s central bank to prohibit cryptocurrency trade and mining in the nation. “We believe it very necessary to ban using Russian financial infrastructure to obtain cryptocurrencies,” said Elizaveta Danilova, director of the Bank of Russia’s financial stability department.

We believe that by doing so, we will be able to mitigate a major portion of the risks. And ensure that cryptocurrencies will not become as popular”. The price of the largest digital coin by market value plunged 4.3 percent on Saturday (22 January) to its lowest level since July last year, according to the Financial Times.

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