Huobi Group, one of the biggest chaîne de blocs organizations on the planet, declared recently that it would dispatch Huobi Ventures, another auxiliary that will zero in on Huobi’s speculation portfolio in the blockchain space. With a $100 million portfolio, the Chinese auxiliary gathering will hope to put resources into beginning phase blockchain and decentralized money (DeFi) projects more than three-year periods.
This initiative will be controlled by Huobi Group’s CFO Lily Zhang, with Huobi Ventures solidifying past speculation investment Huobi Eco Fund, Huobi Capital, and Huobi DeFi labs into one venture portfolio.
“While we’ve made significant progress in our investments already, the formation of Huobi Ventures is a more concerted effort to accelerate our growth at a pivotal point for Huobi,” said Zhang.
“We have had separate teams focus on different investment strategies, but by bringing everyone together under a single entity, we can create a more cohesive strategy and continue to invest in and support the most innovative projects that are shaping the blockchain and DeFi spaces.”
With investments across “hundreds of projects” in the blockchain and stablecoin space, Huobi has invested over $69 million to date — its portfolio balance reaching approximately $215 million.
Some of Huobi’s investments include Ampleforth, Terra, Oasis Network, and Optimism, among others. Most notably, DeFi protocol Terra, which specializes in combining the price stability of fiat currencies with Bitcoin for efficient transactions, saw its governance token reach an impressive $6 billion in market capitalization.
Huobi Set to Venture into NFT Space with $10 Million
On top of its “flagship” $100 million funds focusing on venture capital and mergers & acquisitions, Huobi Ventures will also create a $10 million non-fungible token (NFT) fund. Despite the recent slowdown in the NFT space, many investors remain keen on tapping into the potential of major marketplaces such as NBA Top Shot, Opensea, and Raible. Despite its focus on NFT projects, the fund is also open to investing directly into collectibles.
“NFTs are the future of art and collectibles, but they’re also giving creators like musicians and artists a new way to engage with fans and introducing blockchain to the mainstream audience. While NFTs have already become a growing part of the internet culture, what we’ll see in the market today is only a fraction of what’s actually possible with NFTs. As an immutable way to prove authenticity and ownership of digital files, we’ll see an increased usage across gaming, media, enterprise, and more in the near future.”