Huobi Ventures Announces Investment in Project SEED, a One-Stop, Play-to-Earn GameFi Platform
Huobi Ventures, the global investment arm of Huobi Group, announced that it will invest an undisclosed amount in Project SEED, a AAA game studio building a mobile-focused multi-chain gaming ecosystem. Project SEED is an action role-playing game platform that is based on the Solana blockchain and utilizes a play-to-earn model. It is one of the first projects to offer multiple GameFi use cases on a multi-blockchain model.
The investment will help Project SEED build out a more refined gaming experience and integrate more features for both players and developers. The investment will be carried out under Huobi Ventures’ $10 million GameFi fund, which was launched earlier in September to capture the growth of decentralized finance in the gaming industry. GameFi refers to blockchain gaming models that are integrated with DeFi mechanisms.
Project SEED, like many GameFi business models, enables players to obtain a share of the dividends reaped from game development through a “Play to Earn” model. In the game, players can adopt avatars and interact with their beasts, also known as Zeds. Players can battle with each other, join co-op adventures, join guilds, build dungeons, and much more. The open nature of blockchain shapes Project SEED’s unique business model and ecosystem, which feature the trading of in-app purchases, beasts, and equipment as NFTs.
“We’re excited to be working with Project SEED to grow their GameFi platform and community. Our resources and network can enable them to introduce innovative new features that can disrupt the traditional gaming industry,” said Evans Huangfu, Investment Manager at Huobi Ventures.
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