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Huobi launches $100 million campaign to fuel metaverse development By BTC Peers

by Mike Robinson

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Huobi Launches $100 Million Campaign to Fuel Metaverse Development

Huobi Global is a major cryptocurrency exchange and has created a campaign that aims to bring more users into the metaverse.

Prim Fest: Tiger Year is the name of the campaign. It will be available until February 14, 2022. PrimeEarn is a high yield asset management product with high returns that offers PrimeEarn access to metaverse token lists and special blind box drawings. The cryptocurrency exchange has set aside $100 million for prizes and rewards.

Huobi hopes that the program will encourage users to discover the possibilities of the metaverse. To be eligible for unique NFTs with tigers, participants will have to develop personalized decentralized identifications (DIDs).

DIDs can be seen as an entry point to the metaverse. Huobi’s DIDs will grant users an access point between Web2 and Web3. The crypto exchange launched its DIDs late in 2021. This will allow a select few to access exclusive NFT drops, and other perks. Huobi Co-founder Du Jun said:

We place a lot of emphasis on the metaverse to reflect our desire to offer a unique and more enjoyable crypto experience. We’re not just another spot trading exchange. Our diverse range of services and products are what we pride ourselves in. The promotions that we offer aim to make trading more enjoyable and gamify it.

Huobi, like other exchanges has flirted with NFTs as well as the rapidly-rising metaverse niche. The company created a fund of $10 million to invest in GameFi’s future projects. The fund invested so far in the Vietnam-based MOBA Esports Game (Multiplayer Online Battle Arena), Zuki Moba and Project SEED, which is a pay-to-earn GameFi initiative.

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