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China’s Taiyi Group Acquires Huobi’s Communications Tool for Metaverse Exploration

Chinese companies are increasingly turning their attention to developing the metaverse. Despite government control from above, companies have made large investments in hardware and software.

Taiyi Group is one such company, which has now announced the acquisition of Huobi’s communication tool called Huoxun.

  • According to a recently published reportThe aim is to develop Huoxin into the world’s first social platform with a focus on data storage and the development of a metaverse.
  • Huoxin will be tasked with completing the optimization and expansion of product features.
  • His responsibilities also include building digital collections and metaverse communities
  • The instant messaging social platform was first launched by Huobi in 2018.
  • According to reports, the company invests over 100 million yuan in R&D and operations every year.
  • Since its inception, Huoxun has gained over 7 million registered users.
  • On the other hand, Taiyi Group’s metaverse platform – Taiyi Lingjing – has created a number of metaverse IPs related to cultural tourism, e.g. B. Lingjing Temple of Heaven, Lingjing Forbidden City, Datang Lingjing, Lingjing Chongqing, etc.
  • The development comes a month after Huobi founder Li Lin reportedly considered exiting the company.
  • as reported from crypto potato Previously, Lin wanted to sell his stake in the popular crypto exchange.
  • Due to a sweeping crackdown on crypto operations by Chinese lawmakers last year, Huobi was forced to shut down its stores in the country.
  • However, the metaverse has become a new buzzword in China.
  • Tech giants like Baidu, Tencent, and Byte Dance have already started investing in this space.

Source: Crypto News Deutsch

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