Huobi And Gala Games Partner For L1 And Web3 Development
Huobi Global, a crypto exchange firm, and Gala Games, a play-to-earn gaming platform based on blockchain technology, have signed a deal to collaborate on the investment and listing of Web3 projects.
Huobi Partners With Gala Games
Huobi announced in an official blog post its partnership with Gala Games to foster developments in the Web3 ecosystem. Per the announcement, both entities will work together to invest in relevant projects.
They would also list these projects in the Gala ecosystem. Gala Games provides a platform for developers to build play-to-earn games that integrate non-fungible tokens (NFTs) and crypto.
This system enables players to purchase and trade in-game items that developers cannot alter or delete. If they must delete such an item, the player must authorize it.
The partnership between Huobi and Gala Games is to fortify the former’s Web3 goals by enabling integration with the Gala layer-1 blockchain for enhancing the underlying on-chain technology. According to Jason Brink, the President of Blockchain at Gala Games, integrating their layer-1 blockchain with prominent crypto firms like Huobi is crucial for achieving widespread adoption.
“Exciting news! Huobi is delighted to declare a strategic alliance with Gala Games in developing the ecosystem. Our partnership will involve collaborating on high-quality project investments and listings, along with community development and co-branding initiatives, including Layer1 integration,” Huobi tweeted.
Following the announcement, the community responded positively, acknowledging the benefits of the layer-1 blockchain. Huobi Global is seeking a license in Hong Kong in response to new regulatory measures under consideration by the Chinese special administrative region.
This license would allow the platform to provide crypto products and services to retail clients.
Justin Sun Allegedly Recruiting Chinese Customers
In addition, Huobi has disclosed its intention to broaden its services in other areas by introducing a crypto-to-fiat debit card backed by Visa. This card will be accessible to Huobi clients residing in the European Economic Area (EEA) and is anticipated to be launched in Q2 of 2023.
The Visa-backed debit card was launched in collaboration with Solaris, a European financial services company. The collaboration will allow Huobi users in the EEA to use their crypto to pay for products directly at point-of-sale stations globally.
Meanwhile, the European Economic Area (EEA) includes not only all 27 member states of the European Union (EU) but also Iceland, Norway, and Liechtenstein. In other news, Justin Sun, Huobi Global’s official advisor, has been linked with providing Huobi’s crypto services for Chinese residents for the past two years despite the total ban on crypto in that nation.
According to undisclosed sources, Sun has been recruiting Chinese users for the last two months.
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