Huobi Launches $100 Million Lunar New Year Campaign to Support Metaverse Development

Huobi Launches $100 Million Lunar New Year Campaign to Support Metaverse Development

Huobi Global, one of the world’s leading digital asset exchanges, today announced the official launch of its Lunar New Year campaign, dubbed Prime Fest: Tiger Year.

Lasting until February 14, 2022, this campaign encourages users to explore future possibilities in the metaverse, an expansive network of virtual worlds that may incorporate augmented reality, virtual reality, 3D holographic avatars, video and other means of communication in the future. To promote the development of the metaverse, Huobi is doling out US$100 million in prizes and rewards, including access to new metaverse token listings under Primelist, high-yielding asset management products under PrimeEarn, and special blind box draws under PrimeBox. Huobi will also invite participants to register for DIDs (decentralized identifiers), or personalized virtual identities in the metaverse; these users will be eligible to win unique tiger-themed NFT avatars.

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.

"Our emphasis on the metaverse reflects our intentions to provide a more fun and unique crypto experience," said Huobi Co-founder 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." Huobi has been supporting GameFi and metaverse projects through investments and token listings. In September of 2021, Huobi launched a $10 million fund to invest in emerging GameFi projects. The fund has invested in Zuki Moba, a Vietnam-based community-oriented MOBA Esports Game (Multiplayer Online Battle Arena) and Project SEED, a GameFi project utilizing a “Play to Earn” model.

Over the last year, Huobi listed tokens such as Decimated (DIO), a multiplayer online roleplaying game in a dystopian cyberpunk metaverse, and ERTHA, a game that enables players to explore and investigate a virtual world by specializing and increasing the strength of their respective NFTs and countries.

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