Huobi unveils partnership with Gala Games for Web3 projects

Huobi Global, one of the largest cryptocurrency exchanges, has announced a partnership deal with Gala Games. The two will work together towards the development of the Web3 ecosystem. Huobi Global and Gala will collaborate and invest in projects within the Gala ecosystem.

Huobi partners with Gala Games

Huobi unveiled the partnership with Gala Games in a blog post. The partnership is aimed at boosting the Web3 initiatives of the Huobi exchange. Huobi will integrate the Gala layer-one blockchain to boost the performance of its underlying on-chain technology.

The President of Blockchain at Gala Games, Jason “BitBender” Brink, commented on the development, saying, “integration of our layer 1 blockchain into popular exchanges like Huobi is absolutely crucial with the level of mass adoption we’re looking for. This partnership empowers tomorrow’s developers to create a more stable and secure Web3 future.”

An executive from the Huobi exchange said the company was creating a global Web3 platform with a long-term objective that needed robust technology, the best infrastructure, and tested ecosystem support.

The partnership between Huobi and Gala Games will also support the growth of the process and allow the integration of the Gala layer-one blockchain to support the underlying blockchain technology.

The Gala ecosystem is one of the largest in the Web3 sector. It supports GameFi and non-fungible token (NFT) projects that will support the proper development of a Web3 infrastructure. The two companies will also work towards supporting investments and listings to provide users with a diversified set of high-quality assets.

Gala Games is one of the industry’s most popular blockchain gaming ecosystems. The platform allows developers to create play-to-earn cryptocurrencies and non-fungible tokens (NFTs) where players can purchase and sell in-game items. After a player has bought the in-game assets, the developers cannot alter or delete them without the player’s consent.

Huobi has also acknowledged this partnership through a post on Twitter. The exchange said the partnership would focus on layer 1 integration, cobranding, and community development. The Huobi community has shown enthusiasm towards this development because of the benefits of layer-1 blockchain technologies.

Huobi’s expansion plans

The partnership is the latest effort the Huobi exchange has made toward expansion. Huobi Global announced plans to rebrand its platform last year shortly after Justin Sun joined the exchange as a Huobi Global advisory board member.

Huobi is currently pursuing expansion plans in Hong Kong. The latter is opening up support for digital asset activities, and Huobi is among the crypto firms that have shown interest in expanding in the region. Hong Kong regulators are mulling over allowing retail investors to access digital asset platforms.

Huobi also plans to expand its services to other regions by launching a Visa-backed crypto-to-fiat debit card. The card will be available to Huobi customers within the European Economic Area, and they are slated to launch during the second quarter of this year.