Huobi Ventures Launches $10 million Fund to Accelerate Innovative GameFi Projects
Huobi Ventures, the global investment arm of Huobi Group, announced the launch of a new $10 million fund to invest in emerging GameFi projects around the world. The creation of this fund follows the launch of its $100 million DeFi fund in May this past year. In the following month of June, Huobi incubator program Huobi X Center was also established to help the growth and development of corresponding projects. These recent initiatives reflect the rapid growth of decentralized finance and its role in funding projects with new, differentiated business models. Huobi Group, Huobi X Center, and Huobi Eco Chain (HECO) will provide resources and support for investee projects incubated under this fund.
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The GameFi concept has the potential to completely transform gaming business models. GameFi stands for “Game+DeFi”, which refers to blockchain gaming integrated with DeFi mechanisms. GameFi business models enable players to obtain a share of the dividends reaped from game development, with their most common feature being “Play to Earn”. The open nature of blockchain can make the virtual economies of such games more dynamic. Data on the blockchain is open and accessible, meaning that developers can use it to explore new business models based on digital assets, such as the trading of in-app purchases and equipment.
Huobi Ventures encourages interested applicants to e-mail email@example.com with more details about their GameFi projects. Under the program, Huobi Ventures will provide bespoke support to investee companies and projects through the following:
- Customized service plan. Huobi Ventures could provide marketing and PR support, financial and legal advice, and introductions to potential partners.
- Technical support, for deployment on Huobi Eco Chain(HECO). HECO will provide full-process technical support for incubated projects.
- Commercial assistance. For select projects, Huobi Global could provide a special channel to list tokens and offer additional opportunities to drive user awareness.
“This $10 million fund aligns with Huobi Ventures’ goal to grow the blockchain ecosystem for a digital economy, and to support and promote developers who work on cutting-edge GameFi projects. We will provide support and resources to help these projects scale and take advantage of Huobi Group’s ecosystem,” said Unica Yin, Director of Strategic Investments at Huobi Ventures. “We hope that this will enable more start-up GameFi projects to make an impact on the blockchain world.”
As the investment arm of Huobi Global, Huobi Ventures possesses unique insights into the development of new, cutting-edge technologies. Supernova, Immutable, and Rangers Protocol were some of the first GameFi projects to be invested by Huobi Ventures. Going forward, Huobi Ventures will provide assistance to help each of them scale and make an impact on the gaming industry. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively.