Huobi Ventures Weekly Report #4

Huobi Ventures Weekly Insights

Insight provided by Harry Yin of Huobi Ventures

A Cognitive Way of Viewing SocialFi

Analyst

The whole idea about SocialFi centers around social attributes, the creator economy, and the establishments of Web 3.0 and the Metaverses. Most sandbox games, NFTs, and social networks have implemented such elements without putting SocialFi on the table to talk about, and the “Fi” sector simply allows trading of the NFTs which attracts most profiteers. As all different kinds of Loots emerge (E.g bloot, mloot, etc), these overpriced NFTs escalate in value based on consensus, public recognition, and preaching. So these main drivers of the price act not only as an approval to the creator, but also act mutually beneficial to operate and advertise for an IP. SocialFi then becomes a commercialized marketplace and community.

From a social science perspective, tags such as Crypto Native, Art Blocks Curated, Apes are just different languages that allow access to certain exclusive communities. It is common to see profiteers invest in these NFTs without understanding the languages. Moreover, within such a multilingual environment, it is similar to an asymmetric information game where investors judge solely on the surrogate indicators, such as on price and on appearance.

We can also take another approach and anchor the logic behind Memes to SocialFi, and Memes are all around us within the crypto space. What are Memes? Memes could be “a humorous image, video, piece of text, etc., that is copied (often with slight variations) and spread rapidly by internet users” (Dictionary). The natures that Memes carry are:

Dispersibility – The ability to make others accept, spread, and adapt to the Memes.

Sustainability – The feverish, freshness, and life cycle of the Memes.

Mutation (can be positive or negative) – How quickly others creators are creating forks based on the original.

Manipulation – How the creators are able to preach, advertise, and operate their IPs.

A typical example would be Dogecoin and Elon Musk. With different dog coins such as the Shiba token emerging and Elon Musk’s live AMA, the bubble popped immediately.

So when we are assessing or investing in these Memes or NFTs, I would suggest to be less FOMO with the absolute price value, be prudent, and be rational to make cognitive investments.

Ultimately, SocialFi could be a new path as more SocialFi projects emerge (e.g Mask, Whale, BitClout, etc), but in my opinion it will eventually be the cornerstone of building up a Crypto environment. These projects will be the infrastructure of the Metaverse space that further shifts us into the digitalized environment.

Huobi Ventures Latest Update

DeBridge Gets $5.5M in Seed Funding Round Led by ParaFi Capital, Animoca brands, Lemniscap, Cryptocom Capital, Huobi Ventures, IOSGVC and others.

The funding will be used to build cross-chain infrastructure and decentralized services that will enable projects to expand to other blockchain networks to achieve greater scalability and interconnect different protocol components. Details

Portfolios Weekly Status

[Ampleforth]

Users can claim AMPLNFT in the claim window of Ampleforth. Details

[AntiMatter]

Antimatter Perpetual Option V2 model is live on ropston testnet and connected to new interface. Details

[Automata]

Witness is now supported by Huobi Eco Chain (HECO). Details

[Conflux]

· CFX can be traded on SimpleSwap. Details

· Conflux latest article: What Everyone in Crypto Gets Wrong About China: A View From the West. Details

[CoFiX]

CoFiX v2.1 Parameters changed. Details

[Cyclos]

Cyclos will have initial offering at Gate.io on September 9th. Details

[deBridge]

Cross-Chain protocol DeBridge gets $5.5M in seed funding round led by ParaFi Capital. Details

[dTrade]

The dTrade ambassador program is live. Details

[InsurAce]

· InsurAce has been in partnership with Impossible Finance. Details

· New Cover Listing on dApp with both versions: DODO (Ethereum & BSC). Details

· InsurAce has now deployed their Polygon Mainnet. Details

[Mercurial]

Mercurial works with Serum on another edition of education campaign. Details

[NAOS]

NAOS Finance is now live on Crypto & DeFi multi-chain wallet TokenPocket. Details

[PoolTogether]

ICYMI, new USDC prize pool is available on 0xPolygon. Details

[Spacemesh]

Spacemesh released the Devnet to the public on September 5th. Details

[Terra]

The Terra Spacecamp submissions deadline has been extended until this Thursday, September 9th at 5 PM EST. Details

[ZKswap]

· ZKS Completed Token Burning in August, Totaling 786K ZKS. Details

· Zkswap partners with Sofaswap to expande the ZKS ecosystem to Sofaswap. Details

About Huobi Ventures

Led by Huobi CFO Lily Zhang, Huobi Ventures is a wholly-owned subsidiary of Huobi Group focusing on Huobi global investment. Composed of four divisions — strategic M&A, strategic investment, asset management and global cooperation, Huobi Ventures has already launched three funds targeting typical fields: Blockchain, HECO and NFT. We aim to empower further growth of Huobi Global, and create a global community with our partners for mutual benefits.

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Focus on Huobi’s venture investment portfolio and supporting innovative blockchain projects through long-term strategies. Twitter:@HuobiVentures

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Huobi Ventures

Huobi Ventures

Focus on Huobi’s venture investment portfolio and supporting innovative blockchain projects through long-term strategies. Twitter:@HuobiVentures

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