Huobi seals strategic partnership with Gala Games

Cryptocurrency exchange Huobi announced a strategic partnership with P2E-project Gala Games to collaborate on Web3-initiatives.

? Great News!#Huobi is happy to announce a strategic partnership with #Gala Games @GoGalaGames in ecosystem development.

Together, we will cooperate in the investment and listing of high-quality projects, including Layer1 integration, cobranding & community development. pic.twitter.com/LTqy8pXkF3

— Huobi (@HuobiGlobal) March 31, 2023

The parties agreed on joint investments and collaboration in listing high-quality projects within the ecosystem, including Layer1 integration and community development.

The Gala Games gaming platform enables developers to create cryptocurrency and non-fungible tokens that enable players to buy and sell in-game items. The latter cannot be altered or removed without the owners’ consent.

Huobi called the creation of a Web3 ecosystem “the most important” long-term goal and said the new partnership would accelerate this process.

In November 2022, Gala Games token plunged by 25% amid concerns over a multi-million-dollar hack. At that time, Huobi accused the DeFi protocol pNetwork’s team of malicious behaviour.

In December 2021, Gala Games and venture firm C² Ventures announced a $100 million fund for investments in blockchain games.