Huobi Global has just announced that it has undergone a major partnership with one of the major game-developing companies.
One of the largest cryptocurrency exchanges, Huobi Global has confirmed that it has partnered with Gala Games. It is a major gaming platform that has been developing blockchain-based games.
One of the most attractive utilities offered by the Gala Games to its players is the ability to play and earn (P2E). It goes by the particular module, letting the users enjoy the games while they keep on earning money from their game time.
Huobi Forms a Strategic Partnership
The exchange officials have confirmed that their partnership with Gala Games is strategic. The announcement of the partnership was made by Huobi Global officials on March 31, 2023.
They announced that the purpose of the partnership is to bring improvements and advancements to the Web3 ecosystem.
Web3 technology has the potential to mark new milestones and change the world of blockchain gaming and exploration entirely.
The gaming sector has recognized the potential of Web3 technology well and most game developers are moving to the technology.
Amidst all the developments, the Huobi Global exchange has decided to follow the same trend. It is quite remarkable that Gala Games has partnered with one of the major exchanges in the entire crypto-verse.
The exchange has clients from all over the world, which means it has great influence over the crypto market, which is favorable for Gala Games.
Both sides want to profit from each other’s resources and technologies, which is why it is a strategic partnership.
Development of a Web3 Ecosystem
It has been confirmed that the teams from both sides will be collaborating and sharing each other’s knowledge, technology, and all available resources.
Their goal would be to develop the Web3 ecosystem. As part of the agreement, the exchange will be making huge investments in the projects that will be launched by the Gala Games.
Going forward, they will be listing new projects to the particular ecosystem, which would carry investments from both sides.
What is Gala Games Offer?
At the moment, the players can earn cryptocurrencies from the P2E module that has been adopted by the Gala Games.
In return for the efforts and investments made by the players in the form of hours played, they will be able to earn non-fungible tokens (NFTs) as well.
The players have the freedom of buying and selling the cryptocurrencies and the NFT-based items in the marketplace that is available in-game.
The actions purchased on the in-game items cannot be reversed, meaning a sold NFT or crypto cannot be retrieved, and the same goes for modifications.
Huobi Wants to Speed Things Up
Before partnering with the Gala Games, the Huobi Global exchange attempted to venture into Web3 technology. It seems that the exchange lacks the confidence and the team to enter the technology with confidence and first-hand knowledge.
Therefore, it has decided to let Gala Games navigate its voyage and so far, things are working out well for the Huobi exchange.
Despite the lack of experience and knowledge, the Huobi exchange has been eager to enter Web3 technology and form its ecosystem.
Now the exchange has partnered with Gala, and as per reports, it will be utilizing the layer-1 blockchain network hosted by Gala to its advantage.
Both entities will be working together to improve each other’s technologies in the future and make the most out of their partnership.
It is very promising for the entire Web3 industry that two major players have set foot in the segment. They will not shy away from making huge investments and make the most out of it.
Gala Games is also very excited about the partnership as with the Huobi exchange, it will be able to reach out to a wider audience.
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