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Huobi Ventures Launches with $100 Million Fund

Picture: Huobi

Huobi Group, one of many world’s main crypto corporations, introduced the launch of Huobi Ventures as we speak. The wholly-owned subsidiary can have a combating fund of $100 million which shall be targeted on rising Huobi’s enterprise funding portfolio and supporting completely different blockchain tasks through long-term funding methods.

The brand new enterprise arm by the cryptocurrency alternate operator will place $100 million into early-stage blockchain and DeFi tasks over the subsequent three years. The fund can be anticipated for use to make strategic acquisitions to diversify and broaden Huobi’s portfolio and set up a devoted $10 million non-fungible token (NFT) fund.

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Huobi Ventures consolidates various current funding autos together with Huobi Eco Fund, Huobi Capital and Huobi DeFi Labs. The brand new single entity is now anticipated to drive Huobi’s funding technique.

The brand new Huobi Ventures is the newest transfer by Huobi to diversify its operations away from buying and selling. It follows the latest launch of Huobi Tech (1611.HK), a separate crypto-related fund for institutional buyers.

Huobi Group CFO Lily Zhang mentioned in a press launch: “Whereas we’ve made important progress in our investments already, the formation of Huobi Ventures is a extra concerted effort to speed up our development at a pivotal level for Huobi.”

“We’ve got had separate groups deal with completely different funding methods, however by bringing everybody collectively beneath a single entity, we will create a extra cohesive technique and proceed to spend money on and help essentially the most revolutionary tasks which can be shaping the blockchain and DeFi areas.”

NFT Funding

From the $100 million, $10 million is getting used particularly for investing in NFTs and NFT buying and selling marketplaces.

Zhang mentioned of the NFT explosion: “NFTs are the way forward for artwork and collectibles, however they’re additionally giving creators like musicians and artists a brand new solution to interact with followers and introducing blockchain to the mainstream viewers. Whereas NFTs have already turn out to be a rising a part of the web tradition, what we’ll see available in the market as we speak is barely a fraction of what’s truly attainable with NFTs. As an immutable solution to show authenticity and possession of digital information, we’ll see a use case elevated utilization throughout gaming, media, enterprise and extra within the close to future.”

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