Huobi is launching its own NFT marketplace, following in the steps of other major crypto exchanges

Unable to sit idly by the waves of NFT and Metaverse, Huobi Global is launching its own NFT marketplace, following in the footsteps of many other leading cryptocurrency exchanges in the world.

Unable to sit still, Huobi launches a test NFT market

As of October 25, Huobi has rolled out a trial for Huobi NFT, an NFT marketplace that allows users to buy and trade NFT artwork and collectibles for multiple fields, such as games, art, animation, and music.

According to the announcement, the launch marks an important milestone in expanding Huobi’s metaverse strategy, especially in the context that the Metaverse is currently the focus wave of the crypto market fueled by the Facebook rebranding company Meta. Metaverse is a concept that combines multiple technologies such as virtual reality to provide a 3D virtual environment that features activities such as online games and other activities.

In September, as part of the strategy, Huobi and Chainsmokers backed a $25 million fund to invest in Metaverse and early-stage projects related to GameFi, a hybrid of game-focused NFTs and decentralized finance. The NFT market will play a considerable role in Huobi’s global expansion ambitions.

“Huobi has been working on projects in the GameFi and NFT markets, so the launch of the Huobi NFT marketplace has been in the works for some time. We look forward to introducing this project to our global community,” Huobi Group director of strategy Jeff Mei noted.

With this campaign, Huobi joined the “fiery” race between the world’s leading crypto exchanges in the NFT sector, including Coinbase, FTX, and Binance. At the same time, it opened a brighter turn for the platform after a series of “gloomy” days after leaving the Chinese market after the government’s ban and was banned by leading Chinese applications such as Weibo, Baidu. as well as Wechat blocking search.

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