Huobi Global, a prominent cryptocurrency exchange, has announced its partnership with Gala Games, a blockchain-based play-to-earn gaming platform, according to a March 31st blog post.
The growth of the Web3 ecosystem will be facilitated by this collaboration. Both businesses will be able to fund and list projects inside the Gala ecosystem.
Gala Games provides developers with a platform on which to build games that use nonfungible tokens (NFT) and play-to-earn cryptocurrency. Players can trade and buy in-game items using the platform.
The Gala layer-1 blockchain protects these in-game items, which means that developers cannot change or remove them without the users’ permission.
Huobi wants to accelerate its Web3 goals with this partnership. To enhance the underlying on-chain technology, it intends to integrate with the Gala layer-1 blockchain.
Through this partnership, Huobi will be able to make use of the Gala ecosystem’s advantages. Moreover, it will enable them to broaden their product selection and enhance customer service.
According to Jason Brink, the President of the Blockchain at Gala Games, integrating their layer-1 blockchain with major exchanges like Huobi is crucial for achieving mass adoption.
This partnership will allow Gala Games to leverage Huobi’s large user base and establish itself as a leader in the play-to-earn gaming space.
Huobi took to Twitter to announce the partnership with Gala Games, receiving support from the community due to the advantages of the layer-1 blockchain.
Together, we will cooperate in the investment and listing of high-quality projects, including Layer1 integration, cobranding & community development. pic.twitter.com/LTqy8pXkF3
— Huobi (@HuobiGlobal) March 31, 2023
However, both companies aim to strengthen their positions in the Web3 ecosystem. This partnership will benefit them mutually.
Huobi’s expansion plans
In addition to its partnership with Gala Games, Huobi Global is looking for a retail license in Hong Kong as the Chinese special administrative region explores further regulatory measures.
Huobi will be able to deliver services to consumers in Hong Kong as a result of the license, boosting its foothold in the area. Huobi also intends to develop a Visa-backed crypto-to-fiat debit card for its European Economic Area consumers.
The card Users will be able to make purchases using their digital assets after its debut in Q2 of 2023. Users will find it more convenient to routinely use their digital assets for transactions as a result.
Huobi wants to become a dominant force in the cryptocurrency industry through its development ambitions and alliances. Not only will the alliance with Gala Games further its Web3 goals. Huobi will also be able to broaden its product offerings and provide greater customer service.