Huobi Ventures Weekly Report #7

Huobi Ventures Weekly Insights

Insight provided by @HarryY1n of Huobi Ventures

Loot – An infrastructure of Web3.0

Loot (for adventures) has been released for more than a month now. The bubble has popped following the release of the Synthetic Loot (mloot), reducing the price floor to around 8ETH as of late September. Loot becomes a key for the community to create multiple metaverses, and its mutable feature that allows the NFT items to be broken down into pieces, upgraded, and remixed adds more value to the NFTs. Different from traditional NFTs in a top-down approach that creators create value and sell to collectors, Loot takes a bottom-up approach that allows collectors to create their own value for the NFTs.

So why would people buy a gaming NFT when the game has not even been created? From a profiteer perspective, one might be buying Loot as an arbitrage, hoping to make money by buying at a first mover advantage. But from a social science perspective, Loot NFTs emerge naturally as the entire blockchain environment becomes more and more decentralized, and the bottom-up approach is certain and is a must for Web3.0. As shown when NFT buyers shift from buying the blue-chip or crypto native NFTs, such as Crypto Punks, to buying Art Blocks Curated, and now buying less IP centric NFTs by starting to support more UGCs. It is natural within the blockchain environment as content becomes more itemized and decentralized as we are looking forward to Web3.0. The entire blockchain environment iterates through the same process. When Bitcoin first came out, most buyers were IP centric. Following the creation of Ethereum, more investors were able to acknowledge the value of a faster network, and all the DeFi projects built on Ethereum act as part of the DeFi ecosystem like a puzzle.

As Dom Hofmann – the creator of Loot mentioned, “the current web is app centric, web 3 is item centric. This ends up being a pretty big shift in how we think about building. If apps are really just utilities that connect items together, then increasingly most of the value is in the items, not the apps” and in other words “in the long run it means creators and their creations actually become more valuable than apps”. The Web3.0 environment is established based on itemized UGCs, and the creation of Loot is just the beginning of shifting into a UGC focused scope.

Although Loot (for adventures) still has a long way to go, I look forward to seeing more breakthroughs with the Loot NFTs as more builders are attracted to the community and more gaming features are attached to Loot. It would be revolutionary in the NFT sector when Loot’s derivative projects merge together and grant access to multiple metaverses. Everyone can take part and become their own puzzle to contribute to Web3.0.

Huobi Ventures Latest Update

· Huobi Ventures portfolio Clearpool Raises $3M to Build Decentralized Capital Markets on Ethereum.

Clearpool, a decentralized capital markets ecosystem, has received $3 million in funding from a number of prominent crypto investors to further its decentralized finance (DeFi) ambitions of enabling institutions to borrow uncollateralized assets.

Funding has come via major players Arrington Capital, GBV Capital, HashKey Capital, Hex Trust, Sequoia Capital India, Sino Global Capital and Wintermute. Ascendex, BCW Group, FBG Capital, Folkvang, Huobi Ventures and Kenetic Capital also participated.

· Huobi Ventures portfolio Roco Finance Raised $3.6 Million in Seed and Private Sale Rounds.

Roco is a decentralized GAMEFI platform which provide blockchain services to game developers, content creators and player communities through the blockchain network. Roco developed on AVAX network for using in Roco Finance’s own game ecosystem and partner games. Roco plans to drive the evolution of online gaming with targeted industry-focused solutions to help promising gaming projects reach their full potential.

The amount was raised in two rounds: Seed and Private sale. Our amazing community of investors and supporters includes Alameda Research, Huobi Ventures, Avalaunch and others. We welcome them to our Roco Finance family.

Portfolios Weekly Status

[AlchemyNFT]
AlchemyNFT’s AutographNFT now on #Polygon for asset authentication. Details

[All Art]

SolSea has recently achieved partnership with Turtles, Neopets Metaverse & Red Panda Squad. Details

[Animoca Brands]

Animoca Brands and Blowfish Studios have announced Phantom Galxies — A blockchain based RPG game that will launch for most major game consoles and windows PC in 2022. Details

[ClearPool]

Clearpool has raised $3 million in funding from a number of prominent crypto investors to further tis DeFi ambitions. Details

[Conflux]

Conflux is thrilled to be integrated with SimpleSwap. Details

[Connext]

NXTP is officially live on mainnet with support for Arbitrum, Polygon, xDai chain, Fantom Foundation, and Binance Smart Chain. Details

[Cyclos]

Cyclos has fininshed security audit of CAMM and will lanuch the project wihin next two weeks. Details

[deBridge]

deBridge was excited to be sponsoring LISCON 2021. Details

[Divergence]

Divergence announced its updated IDO,$DIVER Token Launch.Details

[InsurAce]

· InsurAce has announced the launch of their new insurance products, Stablecoin De-Peg Cover and Bundled Covers. Details

· InsurAce is now on debank. Details

· INSUR listed on Coin98. Details

[Larix]

· Larix partners with Marinade Finance. Details

· Larix has been listed on LBank. Details

[Mercurial]

Mercurial Fi announced a collaboration with the Wormhole Crypto team to set up Solana’s first 4 Pool for wrapped wormhole tokens, allowing highly capital efficient swaps to happen between all the major ETH stables and USDC using a single pool. Details

[Multiverse]

Multiverse released a wrap up of August updates. Details

[NAOS]

Galaxy Testnet & Bounty/Reward Program now live. Details

[Nym]

Harry Halpin interviewed by Keiser about Nym and resistance in the age of surveillance. Details

[Oasis]

Oasis will host community call on October 12th. Details

[Project SEED]

Project SEED has achieved more that 150k watchlists on CoinMarketCap before token release. Details

[Optimism]

OVM 2.0 is coming. Kovan — Oct 14, Mainnet — Oct 28. Details

[Terra]

Terra has released Columbus-5 upgrade on Sep 30. Details

[Zkswap]

Zkswap V3 is coming soon.The upgraded protocol will enable Layer2 NFT minting, trading, transactions, and NFT migration from L1 to L2. 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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