Huobi launches its NFT marketplace and Primelist event for Investors

    06 Nov 2021

    Huobi Global, a major global blockchain company behind the world’s third-largest cryptocurrency exchange by trading volume, announced on November 1 the launch of its Primelist event, offering both institutional and individual investors a unique opportunity to access new blockchain projects and the NFT marketplace.

    Blockchain firm and crypto exchange Huobi Group is staking its claim in the metaverse with the trial of its non-fungible token (NFT) marketplace, allowing users to buy and sell NFT artwork, collectibles, and other digital items. This particular Primelist event will offer access to Immutable X (IMX) tokens, a solution for NFTs on the Ethereum blockchain.

    “Our previous Prime and Primepool events attracted many participants from around the world,” said Ciara Sun, head of listing and blockchain investments at Huobi Group. “We’re building on these experiences, and offering another opportunity for investors to access cutting-edge, early-stage projects.”

    The launch of the Primelist event reflects Huobi’s efforts to give back to its community, as well as its plans to grow its existing Huobi Token ecosystem. The first token to be listed on Primelist will be Immutable X (IMX), the first Layer 2 scaling solution for NFTs on Ethereum. This solution offers instant trade confirmations, massive scalability (up to 9,000 TPS+), and zero gas fees.

    “Many of the investors from our previous Prime-series events were happy with their rewards, so we’re excited to keep the momentum going and use Primelist to introduce more opportunities to the community,” Ms. Sun added.

    Huobi said the launch of the Huobi NFT marketplace has been in the works for some time and is a “key milestone” in the expansion of its metaverse strategy. The metaverse is a space generated by the convergence of virtual worlds, augmented reality, and internet services.

    The company has also been working on gaming and decentralized finance, or GameFi, projects. In September, Huobi Ventures, the investment arm of Huobi Group, announced it is launching a $10 million fund to invest in early-stage GameFi projects.

    “NFTs have opened up the public’s eyes to the wide range of blockchain applications out there. The concept of NFTs as immutable proof of ownership is very powerful, so we’re excited to see where our NFT marketplace will take us,” said Jeff Mei, director of strategy at Huobi Group, in a statement.

    Huobi Group co-founder Du Jun noted that the company will continue to expand its global footprint to introduce innovative products and localized services, starting with markets in Turkey and Brazil. To reinforce its global expansion, Huobi is looking to have increased its global headcount from 2,300 employees to 3,000 by the end of 2021.

    Huobi was recently forced to exit China after the Chinese government enforced another major cryptocurrency ban in late September. As of mid-October, Huobi’s businesses operated outside of China and amounted to around 70% in terms of trading volumes and revenues.

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