According to a Huobi press release from 14 May, the first project to be listed on the new and improved Huobi Prime will be APENFT, which aims to register world-class artworks as NFTs and create a bridge between artists and blockchain. Ciara Sun, the Vice President of Global Markets at Huobi Group, said APENFT stood out from a number of other strong candidates for Prime’s relaunch with mission and its technical background.
The relaunch of Huobi Prime follows the establishment of the Huobi Asset Center, the company’s new business unit dedicated to managing asset listings. Huobi Prime is a natural extension to the Asset Center, offering traders access to cryptocurrencies that have undergone a rigorous screening and selection process.
“Our Huobi Prime team selects high-quality projects from a large pool of potential candidates and provides users with a channel to invest and participate with a low barrier of entry. More importantly, users who are interested in the project can receive an early start,” Sun explained in the press release.
Huobi Prime requires users to hold a minimum of 300 Huobi Tokens for six days in order to participate. The listing will be conducted in two separate rounds, with order placements made through a random draw process in the first round. This will ensure profits do not end in the hands of a few key players. In the second round, the Huobi Prime system will perform a proportional allocation based on the number of orders made with the Huobi Token.
“We want to promote inclusiveness in the crypto world and show that the market is not just for investors with deep pockets,” Sun added.