Cryptocurrency exchange Huobi Global has signed a strategic partnership with Gala Games, the brains behind the popular GameFi project based on the Ethereum protocol.
Announcing the deal on March 31, Huobi said the new alliance with the game producer aims to enhance blockchain and Web3 development.
Huobi to Support Innovative Projects at Gala Games
The two crypto-focused companies will also work together on a handful of initiatives, including project development and listings on the Gala ecosystem, co-branding, community development, and integration of the Gala layer-1 blockchain.
“Building a global Web3 gateway is a crucial long-term goal that demands robust technology, sophisticated infrastructure, and strong ecosystem support. The partnership with Gala Games will accelerate this process, and integrating the Gala Layer-1 blockchain will improve the underlying on-chain technology,” Huobi said.
Furthermore, Huobi plans to incorporate innovative and creative projects housed in the Gala ecosystem into its platform as part of its “commitment to offer high-quality and diversified assets to users.”
The new collaboration with Gala Games aligns with the company’s vision to provide comprehensive products and services to crypto enthusiasts around the world.
The crypto exchange said it has a business presence in more than 160 countries, and it’s currently looking to open a regional office in Hong Kong.
The firm has applied for regulatory approval from the country’s financial authorities to operate legally as a digital asset service provider.
Gala Games Allows Players to Purchase In-game Items
As one of the popular play-to-earn (P2E) games in the industry, Gala Games allows developers to create crypto and non-fungible token (NFT) games on the network, which gamers can completely own. This enables players to buy and sell in-game properties.
However, once the in-house game items are acquired, the developers cannot modify or remove them without the player’s consent.
Speaking about the new partnership, Gala Games President Jason Brink, popularly known as BitBender, said that integrating the company’s layer 1 blockchain into the crypto exchange is crucial to the game developer due to the level of mass adoption it aspires to achieve.
“This partnership empowers tomorrow’s developers to create a more stable and secure Web3 future,” said BitBender.
