Huobi Group, one of the world’s leading crypto companies, announced the launch of its Huobi Ventures investment fund.

The subsidiary will have a $100 million investment fund that will focus on growing Huobi’s investment portfolio and supporting various blockchain projects through long-term investment strategies.

The new investment arm will put $100 million in blockchain and DeFi projects in their early stages over the next three years.

The fund is also expected to be used to make strategic acquisitions to diversify and expand Huobi’s portfolio and create a $10 million NFT token fund.

Huobi Ventures integrates a number of existing investment vehicles including Huobi Eco Fund, Huobi Capital and Huobi DeFi Labs together.

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The new entity is now expected to lead Huobi’s investment strategy.

The new Huobi Ventures Fund is Huobi’s latest move to diversify its operations away from trading.

This follows the recent launch of Huobi Tech, a separate crypto-related fund for institutional investors.

I told Lili Zhang, chief financial officer of Huobi Group, said in a press release:

We’ve made great progress in our investments already.

The formation of Huobi Ventures is a step that shows our concerted efforts to accelerate our growth at a pivotal point for Huobi.

We have separate teams focused on different investment strategies, but by bringing everyone together into one entity, we can create a more cohesive strategy, continue investing, and support the most innovative projects that are shaping the blockchain and DeFi spaces.

Investing in NFT:

Of the $100 million, $10 million will be used specifically to invest in the NFT exchanges.

Zhang said of the NFT explosion:

NFT is the future of digital art and collectibles, but it also gives content creators such as musicians and artists a new way to interact with fans and bring blockchain to a regular audience.

Read:Bitcoin price soars after $250 million digitally added to market by Tether

While NFT has already become an increasing part of Internet culture, what we will see in the market today is only a fraction of what is actually possible with NFT.

As an immutable way to establish the authenticity and ownership of digital files, we’ll see use cases that increase usage across games, media, organizations, and more in the near future.

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