Huobi Global, a cryptocurrency exchange, has declared a strategic partnership with Gala Games, a blockchain-based play-to-earn gaming platform.
In an official blog post on March 31, Huobi announced a partnership with Gala Games for the development of the Web3 ecosystem. The two companies will collaborate to invest in and list projects within the Gala ecosystem.
Gala Games enables developers to create play-to-earn crypto and non-fungible token (NFT) games, which allow players to buy and sell in-game items. Once purchased, these in-game items cannot be modified or deleted by developers without the players’ consent.
Huobi’s collaboration with Gala Games is expected to enhance the former’s Web3 objectives and allow it to integrate with the Gala layer-1 blockchain for improving the underlying on-chain technology. Jason “BitBender” Brink, who serves as the president of the blockchain at Gala Games, has stated that the integration of their layer-1 blockchain with major exchanges like Huobi is of utmost importance for achieving the desired level of mass adoption.
The crypto exchange also took to Twitter to announce the partnership with Gala Games which led to the community expressing support for the partnership due to the advantages of the Layer-1 blockchain.
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At present, Huobi Global is pursuing a license in Hong Kong, in light of new regulatory measures being considered by the Chinese special administrative region that would enable the platform to cater to retail clients.
Additionally, Huobi has announced its plans to expand its services in other regions by launching a Visa-backed crypto-to-fiat debit card. This card will be available to Huobi customers residing in the European Economic Area and is expected to be launched in the second quarter of this year.
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