Huobi Global, a popular cryptocurrency exchange, has partnered with Gala Games, a blockchain-based play-to-earn gaming platform, in a move to boost the Web3 ecosystem. The two companies will work together to invest in and list projects within the Gala ecosystem, with a focus on enhancing the underlying on-chain technology.
Gala Games is known for enabling developers to create play-to-earn crypto and nonfungible token (NFT) games, allowing players to buy and sell in-game items. Once purchased, these in-game items cannot be modified or deleted by developers without the players’ consent.
Huobi’s collaboration with Gala Games is expected to be beneficial for both companies. Gala Games hopes that integrating its layer-1 blockchain with major exchanges like Huobi will help it achieve mass adoption, while Huobi hopes to enhance its Web3 objectives and integrate with the Gala ecosystem. Jason Brink, the president of blockchain at Gala Games, emphasized the importance of integrating its blockchain with major exchanges like Huobi to increase adoption.
Huobi also announced on March 31 that it is pursuing a license in Hong Kong to cater to retail clients in light of new regulatory measures being considered by the Chinese special administrative region. This move will allow the platform to expand its services in other regions and offer a Visa-backed crypto-to-fiat debit card to its customers in the European Economic Area. The card is expected to launch in the second quarter of 2023.
Huobi’s announcement of its partnership with Gala Games was well-received by the community, with many expressing support for the advantages of the layer-1 blockchain. The partnership is expected to be mutually beneficial, as Huobi seeks to enhance its Web3 objectives and Gala Games aims to achieve mass adoption of its layer-1 blockchain.
In summary, Huobi Global’s partnership with Gala Games represents a significant step towards the development of the Web3 ecosystem. The two companies will collaborate to invest in and list projects within the Gala ecosystem, with a focus on enhancing the underlying on-chain technology. Additionally, Huobi is pursuing a license in Hong Kong and plans to launch a Visa-backed crypto-to-fiat debit card for its customers in the European Economic Area.
Read more: Gala Games has entered into a partnership with Huobi for the development of L1 and Web3 [2023]