Gala Games and Huobi Global have partnered to cooperate on the financing and listing of Web3 enterprises.
A blockchain-based play-to-earn gaming platform called Gala Games has announced a strategic relationship with cryptocurrency exchange Huobi Global. On March 31, Huobi disclosed a collaboration with the gaming platform to advance the Web3 ecosystem in an official blog post.
In order to invest in and list initiatives within the Gala ecosystem, the two businesses will work together. Play-to-earn crypto and nonfungible token (NFT) games, which let users buy and sell in-game goods, are made possible by the gaming platform.
These in-game items cannot be altered or removed by the creators without the players’ permission once they have been acquired. By integrating with the Gala layer-1 blockchain to advance the underlying on-chain technology, Huobi’s partnership with Gala Games is anticipated to further the former’s Web3 goals.
Gala Games’ layer-1 blockchain must be integrated with significant exchanges like Huobi, according to Jason Brink, the company’s VP of blockchain, in order to achieve the required degree of mainstream adoption.
The community expressed support for the agreement due to the benefits of the layer-1 blockchain as Huobi also announced the relationship with the gaming platform on Twitter.
While the Chinese Special Administrative Region is considering new regulatory measures that would allow the platform to serve retail clients, Huobi Global is currently working to obtain a license in Hong Kong.
In addition, Huobi has revealed intentions to launch a crypto-to-fiat debit card endorsed by Visa as part of its global business expansion. In the second quarter of 2023, this card is anticipated to go on sale to Huobi customers who live in the European Economic Area.
