On August 3, Tai Group, a Hong Kong based investment holding group, announced that it had completed the acquisition of Huobi Chat, a social product owned by Huobi Group, a virtual asset financial service provider. It plans to develop Huobi Chat into the world’s first social platform focusing on Non-Fungible Tokens (NFT) and the Metaverse while further promoting the construction of Chinese metaverse infrastructure.
Tai Group is a comprehensive technology group focusing on blockchain technology research and development and metaverse industry implementation. It is the official partner of Unreal Engine in China. Tai VirtualReality is the supporting service platform of the metaverse with independent intellectual property rights of the Tai Group. At present, it has built a series of cultural-related metaverse IP such as the VirtualReality Temple of Heaven, Tang Meta and VirtualReality Chongqing.
In the field of NFTs, Tai Art, a subsidiary of the Group, is a well-known comprehensive service platform for NFTs in China. It has reached cooperation agreements with several cultural tourism departments, including those in Beijing, Xi’an, Chongqing, Hunan, Guizhou and others. The partnerships are meant to ensure that the IP value of cultural tourism in various places can be discovered and disseminated while acting as credible platforms for the public to purchase and collect.
Huobi Chat is an instant messaging platform closely associated with the blockchain field and was launched by Huobi Group in 2018. It has a large number of blockchain users, with active monthly users totalling more than one million. As of July 2022, the cumulative registered users of Huobi Chat platform exceeded 7 million.
Tai Group’s acquisition of Huobi Chat will maintain the original Huobi Chat team’s independence but introduce core enterprises and strategic investments in the fields of NFT and metaverse to jointly build the largest social platform for NFT and metaverse in China. Huobi Chat will complete the optimization and upgrading of the product’s functions in the near future, leading to a complete NFT and metaverse community.