Huobi Incubator, which is part of the Huobi Group, announced today that it has partnered with Relation Labs, a project that is working on creating a multi-chain decentralized web3 social graph.
Houbi Incubator will offer its services to the other party as part of this new strategic collaboration, including marketing support, counseling, business model guidance, and more.
In addition, this new collaboration with Relation Labs is to raise global awareness of its web3 Social Graph project, which it is currently developing. Relation Labs is working on a project that will allow anyone in the Web3 ecosystem to produce and harvest data value in an open and straightforward manner.
Huobi Incubator made this partnership announcement on their official Twitter handle today, stating that they look forward to the growth of Relation and its future influence on the infrastructure of the next-gen web3 social graph
🔥We are strategically partnering up with @relationlabs to harness data value in #web3🔥— Huobi Incubator (@huobi_incubator) April 18, 2022
Relation is a promising player in the field of social graphs. We look forward to the growth of Relation and its future influence of the infrastructure of next-gen web3 social graph👏 pic.twitter.com/hCcSSlm4RQ
Relation labs has integrated a wide range of modern technologies, including artificial intelligence (AI), to empower users and Web3 producers with 100 percent ownership, with the goal of creating a multi-chain decentralized web3 social graph. P2P chats, game matching, DAO, group invites, and more are all possible with the Relation One social app. If a user decides to share data with Decentralized applications, tokens will be awarded for the data submitted, with more tokens being awarded as more data is provided.
While making comments on the strategic partnership, Jessica C, the Founder of Relation Labs, said:
“Our partnership with Huobi Incubator will greatly benefit the development of Web3 Social Graph and promote Web3 innovation. We hope this long-term vision of ours will come to pass as we work with the best expertise and resources in the crypto space that Huobi Incubator will provide.”
Also, the head of Huobi Incubator, Jewel Chen, stated,
“Relation Lab’s Web3 Social Graph project will provide solutions to address user-growth dilemmas surrounding current SocialFi and startup projects that are sorely needed in the market today.”
“Our professional guidance and resources will allow both parties to mutually benefit and look forward to unlocking a new paradigm of social network Dapps in the near future.”
Several companies and parties are actively collaborating to make participation in the Web3 area as simple and efficient as possible for everyone. Individuals and institutions are rapidly adopting the SocialFi, DeFi, GameFi circuit, which includes P2E, Free to Play, and Play for Fun concept games.
Furthermore, the total market TVL (total value locked) for DeFi (Decentralized Finance) is estimated to be currently US$244 billion. All of these developments, however, indicate that the crypto market is being widely adopted by the general public while raising awareness of the importance and value of personal social data.