Huobi launches trial operation for NFT marketplace
Popular crypto exchange Houbi announced on the 1st that it has started the pilot program of its own NFT marketplace. The initiative was explained as the exchange’s strategy to expand into GameFi and Metaverse.
Huobi’s move came as many crypto exchanges looked to float their NFT marketplaces, including trading platforms such as Binance, Coinbase, Coincheck, and more. As the name suggests, NFT marketplaces allow users to buy, hold, and sell NFT collectibles.
Concerning its Metaverse expansion, Huobi Ventures had also launched a $10 million GameFi fund to invest in emerging GameFi projects. Jeff Mei, Director of Strategy at Huobi Group, said:
“The explosive growth we’re seeing in the NFT market is comparable to that of public chains and DeFi over the past few years. NFTs have opened up the public’s eyes to the wide range of blockchain applications out there. The concept of NFTs as an immutable proof of ownership is very powerful, so we’re excited to see where our NFT marketplace will take us.”
As part of its pilot program, individuals and businesses would need to contact Huobi directly to sell their NFTs on its platform.
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