With the non-fungible token (NFT) constantly gaining popularity, more and more firms within the crypto-verse are aiming to gain exposure in the NFT space. It has become everyday news for a cryptocurrency firm to adopt the non-fungible token technology.
In recent months, it was the largest cryptocurrency exchange in the entire world “Binance” that reportedly adopted the non-fungible tokens. Just recently, reports have started coming in where Coinbase has expressed its intentions of adopting non-fungible tokens.
Coinbase has also announced that it is currently going through the possibility of launching its own non-fungible tokens marketplace.
However, the adoption of non-fungible tokens is not just limited to these major cryptocurrency exchanges. Several other exchanges have also expressed their intentions of launching non-fungible token marketplaces.
Among these exchanges is one of the largest or the third-largest cryptocurrency exchanges in the entire world known as Huobi Group. The exchange is reportedly aiming to make an attempt of exploring the metaverse technology.
The exchange intends to do it with the development and trial of the non-fungible tokens it is aiming to create in the course of time. The exchange is now in the process of launching its own marketplace for non-fungible tokens.
It intends to let its users buy and sell non-fungible tokens through the marketplace. The users will also be able to collect the non-fungible tokens as well as other digital items from the marketplace.
While sharing details about the marketplace, Huobi exchange had announced that the development of its non-fungible token marketplace is underway. They have been working on the development of the marketplace for some time and plan to launch it soon.
Once the marketplace is launched, it is going to be one of the largest achievements and key milestones their exchange would have overcome. This would ensure that the exchange has made a tremendous amount of progress within the cryptocurrency industry. The metaverse adoption and the strategy it implements would be a major achievement of the exchange’s expansion.
In addition to the NFT technology, Houbi is also working on the development of gaming and decentralized finance (GameFi) system. This means that the exchange is aiming to expand its portfolio tremendously by introducing several other projects for its users and the crypto community.
It was back in early September 2021, when the exchange had announced the launch of an investment fund that was going to be worth $10 million. The exchange revealed that the funds from the $10 million investment would be used for the development and deployment of projects within the GameFi space.
It is being expected that with the passage of time, the non-fungible token sector would expand its roots throughout the cryptocurrency sector. So far, the NFT sector has dominated the digital artwork sector and it is now growing tremendously in the gaming sector.
