Cryptocurrency exchange Huobi Global has announced a strategic partnership with blockchain-based earn-as-you-play gaming platform Gala Games.
In an official blog post on March 31, Huobi announced that it is partnering with Gala Games to develop the Web3 ecosystem. The two companies will collaborate to invest in and list projects in the Gala ecosystem. Gala Games enables developers to create games that earn cryptocurrency and non-fungible tokens (NFTs) through play, allowing players to buy and sell in-game items. Once purchased, the developer may not modify or delete these in-game items without the player's consent.
Huobi’s partnership with Gala Games is expected to enhance the former’s Web3 goals, allowing it to integrate with the Gala layer-1 blockchain to improve the underlying on-chain technology. Jason Brink, who serves as president of blockchain at Gala Games, said that integrating its layer 1 blockchain with major exchanges such as Huobi is critical to achieving the required level of mass adoption. Huobi also announced a partnership with Gala Games on Twitter, and the community expressed support for the partnership due to the advantages of the layer-1 blockchain.
Currently, Huobi Global is applying for a license in Hong Kong, which will allow the platform to cater to retail clients, given new regulatory measures being considered in the Chinese special administrative region. Additionally, Huobi announced plans to expand its services in other regions by launching a Visa-backed crypto-to-fiat debit card. The card will be available to Huobi customers residing in the European Economic Area and is expected to launch in the second quarter of 2023.
