The investment-centric division of crypto exchange Huobi – Huobi Ventures – has reportedly established a $10-million fund, for financially supporting early-stage GameFi initiatives. 

Specifically, the fund will reportedly channel investment directly towards initiatives planning to complete the integration of blockchain gaming with DeFi mechanisms. The GameFi business models offer the chance of dividends earning dividends via features including “play to earn.” 

On August 5th, Huobi Ventures reportedly set aside a $100-million fund particularly for DeFi initiatives, revolving mainly around asset management. The initiatives that made their ways into Huobi’s investment scope will be at the receiving end of funding and support from Huobi Group, its incubator program, Huobi X Center, and Huobi Eco Chain (HECO).

Moreover, the investee firms and initiatives will be subjected to Huobi’s support, regarding PR support, financial and legal advice, technical support for project deployment, and commercial assistance.

“We think that going forward, blockchain technology has the potential to revolutionize gaming business models and will play a core role in the next generation of games.” Huobi Ventures director Unica Yin reportedly shared regarding the gaming industry’s play-to-earn model experiencing astounding development. 

Huobi Ventures has reportedly completed the introduction of three individual funds devoted to blockchain, HECO Ecology, and nonfungible tokens (NFT). Yin expects that Huobi will offer assistance in designing impactful GameFi projects. 

“We will provide support and resources to help these projects scale and take advantage of Huobi Group’s ecosystem.”