Huobi Group launches $100 million for the development of DeFi and NFT

A top organization in the blockchain and cryptocurrency industry, Huobi Group, has its attention geared towards investing in early-stage blockchain and Decentralized Finance startups. The Seychelles-based cryptocurrency exchange Huobi Global is a subsidiary of the Huobi group.

This organization was created Eight (8) years ago with a vision to make several advances in essential blockchain tech and, focusing on how to make the uses of blockchain known to other industries other than crypto.

Huobi Group has formed a hundred million US dollars venture capital fund targeting the newbie firms in blockchain and Decentralized Finance as a whole. This new venture will also launch 10 million US dollar funds allocated explicitly to Non-fungible tokens.

The CFO of the Huobi Group,Lily Zhan said these immutable, unique assets are the future of art and give the artiste or owner another way of getting close and communicating with their supporter, thereby bringing blockchain to the masses.

Read also: The E-commerce Company eBay allow the sale of NFT

Despite the negativity in the general crypto market recently, terms of increase in DeFi scams, the whole market being like a war zone with a pool of blood. Huobi global wants to exploit and build both the DeFi and NFT ecosystem of the industry. Merging numerous existing investments into only one venture will strategically improve Huobi’s investment.

Huobi has invested over Sixty-nine million US dollars across several blockchain projects, media, coins, and others. The profit and balance as of now are roughly $215 million.

Huobi Ventures is the latest enterprise by Huobi designed to increase its spread and impact into a new market as a form of its universal development. Huobi Ventures aims to make early-stage investments in the industry rise and help them fit into the company ecosystem. This ecosystem includes trading platforms, public blockchains, mining pools, and much more.

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