Huobi Introduces $100 Million Campaign to Facilitate Metaverse

To accelerate the development and adoption of Metaverse, Huobi, one of the prominent digital asset exchanges, announced the launch of a $100 million Lunar New Year campaign today.

Dubbed ‘Prime Fest: Tiger Year’, the new campaign will last until 14 February 2022. According to Huobi, the $100 million worth of prizes and rewards include access to new metaverse token listings under Primelist, high-yielding asset management products under PrimeEarn, and special blind box draws under PrimeBox.

Additionally, the crypto exchange will give an opportunity to the participants to register for decentralized identifiers or personalized virtual identities in the Metaverse. The latest announcement from Huobi came nearly 4 months after the digital asset trading platform announced a $10 million fund to invest in GameFi startups.

"Our emphasis on the metaverse reflects our intentions to provide a more fun and unique crypto experience," said the Co-Founder of Huobi, Du Jun. "We're not just another spot trading exchange. We pride ourselves on our diverse set of products and services, and the promotions we run are designed to gamify the trading experience and make it more fun."

In September 2021, the exchange expanded its suite of trading services with the extension of Huobi Derivatives Warrant.

Decentralized Identifiers (DIDs)

Huobi outlined that the DIDs designed by the company act as an access point between Web2 and Web3. Huobi aims to capitalize on the growing Metaverse ecosystem.

“Huobi's DIDs are designed to be users' entry point into the metaverse, providing them with an access point between Web2 and Web3. DIDs are widely considered a prerequisite for anyone looking to enter the metaverse, not only granting user access but also recording and verifying all information and activity on blockchains. DIDs offer users security, ownership,] and interoperability. Huobi's NFT platform launched its own DIDs at the end of 2021 to give select users access to exclusive NFT releases, airdrops and other special benefits,” the exchange added.