Huobi Global follows in the footsteps of other exchanges and launches the NFT market

The Huobi Group, which operates one of the world’s largest cryptocurrency exchanges, is launching its own NFT marketplace, following in the footsteps of other major crypto exchanges.

Huobi launches test NFT market

On October 25th, Huobi announced it was launching a trial for Huobi NFT, a marketplace that allows users to buy and trade NFT artwork and collectibles in a variety of fields including games and games, gaming, art, animation, and music .

https://twitter.com/HuobiGlobal/status/1452590773275295754?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

According to the announcement, the launch marks an important milestone in the expansion of Huobi’s Metaverse strategy, especially given that the Metaverse is gaining market attention through the Facebook rebranding event. Metaverse is a concept that combines several technologies such as virtual reality to provide a 3D virtual environment for online games and other activities.

As part of the strategy, Huobi and Chainsmokers launched a $ 25 million fund in September to invest in Metaverse and early-stage projects related to GameFi, a mix of game-centric NFTs, and DeFi. The NFT market will play a large role in Huobi’s global expansion ambitions.

“Huobi has been working on projects in the GameFi and NFT markets, so Huobi NFT has been rolling out for some time. We look forward to introducing this project to our global community, ”said Jeff Mei, Huobi’s chief strategy officer.

The announcement doesn’t mention whether the platform will adopt Huobi’s proprietary blockchain, Huobi Chain, or the Huobi (HT) tokens.

The news comes shortly after social media giant Facebook officially changed its company name to Meta, marking its first major rebranding and boosting its ambitions beyond the social network. In addition to its extensive plans for the Metaverse, Facebook is also struggling with the launch of a cryptocurrency called Diem.

Huobi is joining the increasingly intense race of global crypto exchanges to introduce NFT platforms. Coinbase, the largest cryptocurrency exchange in the United States, announced that it would launch its own NFT platform in mid-October.

Binance launched the NFT market in June of this year as one of the first crypto exchanges in the world.

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