Huobi Incubator, the project incubation arm of Huobi Group, has joined hands with Relation Labs, a project specializing in the creation and harvesting of data in the Web3 age. The partnership will witness Huobi Incubator redouble efforts to drive Relation Lab’s growth by offering the latter a full suite of supporting services, such as marketing support, financial consultation, business model guidance, and more. In addition, Huobi Incubator will provide community engagement to increase market awareness of Relation Labs and its Web3 Social Graph project.

With the support of strategic partnership, Relation Labs intends to accelerate its development process, leverage resources to spur the development of the ecosystem, and expand its business to further develop a Global Social Relation Graph – the infrastructure of the next-generation Web3 Social Graph.

This in-depth cooperation between Huobi and Relation Labs shows how far the Web3 field has come since October 2021, when social media giant Facebook, with 2.8 billion users, announced it was changing its name to “Meta.” The Web3 boom has taken off since, and NFT became the word of the year.

Today, various parties such as investment institutions, public chains, and companies are actively attempting to participate in the GameFi circuit, with P2E, Free to Play, and Play for Fun concept games popping up all over the place. In addition, the total market TVL (total value locked) of DeFi (Decentralized Finance) has reached US$244 billion. All these changes have introduced the crypto market to the masses and made people aware of the importance and value of personal social data.