Huboi Ventures, the subsidiary of Huboi Group, recently announced its 10 million dollar investment plan for emerging GameFi (an acronym for two words “Game” and “DeFi”).
In simple terms, these projects combine decentralized finance and gaming. The result is a play-as-you-earn type of model.
These games are getting more dynamic because of the accessibility and the openness of information on blockchains. So basically, developers easily use these data to develop unseen ideas based on digital assets like in-App equipment and purchases.
Beneficiaries of the Huboi Group Project
The lucky projects that get listed in addition get extra benefits such as support and funding. Huboi X Center, HECO(Huboi Eco Chain), and the Huboi Group will cover their financing.
Other noteworthy benefits include:
- legal advice
- Public Relations
- technical aid
- Monetary help and advice
Earlier this year, Huboi announced that it would release one hundred million dollars into early-stage blockchain and (DeFi) projects. These funds would, in turn, make strategic acquisitions to diversify and expand Huobi’s offerings. The company also deployed $10 million to fund Non-Fungible tokens (NFTs).
The company also said that it would use the funds for the strategic acquisition, investment, management of assets, and the building of ecosystems. Huboi Ventures is trying to find the best ways synthetics can deliver value to the entire industry. Beyond finance was among the first platforms to benefit from this strategic plan.
Their collaboration will see to the creation of a friendly to use, decentralized synthetic asset platform.
Crypto Gaming Growth
Video games have broadly unfolded in the past few decades. With the improvements in PC and mobile gaming, there has been an apparent increase in the gaming industry’s interest in cryptos. Certainly, crypto games disrupt the traditional games market by allowing players to earn while playing, rewarding their time and effort.
Crypto gaming has grown in popularity primarily due to its ability to allow players to collect and trade virtual assets that can be exchanged and traded anywhere in the world. It has also proven to be a secure and straightforward way for the gaming industry to earn money.