Huobi Group, a world leading cryptocurrency and blockchain company behind the renowned cryptocurrency exchange Huobi Global, has launched its incubator program, Huobi X Center, to empower crypto startups in decentralized finance (DeFi), non-fungible tokens (NFT), and other innovative sectors.
Huobi Group announced the news in a press release on Wednesday, June 9th. Huobi X Center will drive the development of start-up projects to contribute to the blockchain industry as a whole. The incubator program will focus on new technologies and emerging sectors including DeFi, NFTs, distributed storage, and other innovations
According to the announcement, iBox, a popular new NFT platform in China, is the first project incubated by Huobi X Center. The project has seen a rapid growth since its launch in May 2021 and currently working with influencers, artists, and celebrities, as well as widely recognized brands and intellectual property (IPs), to launch exclusive NFT collectibles on its platform.
Huobi Group is currently accepting applications for the program on a rolling basis. To ensure that the program includes a diverse range of products, Huobi X Center will recruit new projects through Huobi University and The Huobi Research Institute. Startup Camps, hackathons, developer conferences, and community activities will be also conducted to onboard project based on innovative ideas.
Livio, chairman of Huobi X Center, commented:
“Technology is the primary productive force, and new technology has always been the leading driving force for the healthy and upward development of the blockchain industry. As a one-stop shop for incubatees, X Center will hold a diversity of programs to support emerging projects. As more products and services are created, we warmly welcome developers and entrepreneurs to join us.”
Huobi Group is one of the oldest and the most prominent name of crypto and blockchain space. The group’s best-known platform is Huobi Global cryptocurrency exchange, that, established in 2013, now serves more than 5 million users in over 170 countries around the world. According to CoinMarketCap ranking, Huobi currently occupies the number 2 spot after Binance in trading volume.
Huobi Group has dedicated arms that serves different purposes. Huobi University is Huobi Group’s research and education arm. Other arms include Huobi Research Institute and Huobi Charity. It has also established a DeFi division called Huobi DeFi Labs that launched the Global DeFi Alliance in August 2020 to advance DeFi research and development.
The group has launched its own public blockchain Huobi ECO Chain (Heco), an Ethereum-compatible public blockchain that uses a Hybrid Proof of Stake (HPOS) consensus mechanism and supports EVM programmability and smart contract compatibility.
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