Huobi Group has launched its own nonfungible token (NFT) marketplace, following the steps of other major crypto exchanges.
It has been reported that Huobi has rolled out a trial for Huobi NFT, an NFT marketplace allowing users to buy and trade NFT artwork and collectibles in numerous sectors, such as games, art, animation, and music, Huobi Group announced on Monday.
However, the platform was named "Deep Suns," according to a representative at Huobi. According to the announcement, the launch marks a milestone in the extension of Huobi’s metaverse strategy, a concept combining multiple technologies such as virtual reality to bring a 3D virtual environment featuring activities like online gaming and others.
The report said that as part of the strategy, Huobi in September launched a $10-million fund to invest in early-stage projects involved in GameFi, a mix of gaming-focused NFTs and decentralized finance.
Likewise, the NFT marketplace will also play a big role in the company’s global expansion strategy as it adds a new asset class to its portfolio of blockchain and cryptocurrency-focused products.
Jeff Mei, the Director of Strategy at Huobi Group, said:
“Huobi has been working on projects in the GameFi and NFT markets, so the launch of the Huobi NFT marketplace has been in the works for some time. We look forward to introducing this project to our global community.”
Thus, a spokesperson for Huobi Group said that Huobi’s NFT platform is being trialed on Huobi's decentralized public chain, the Huobi Eco Chain, also known as Heco. The NFT platform is not integrated with the exchange's native cryptocurrency, Huobi token.