Torum, a social media platform with nonfungible token innovations, announces a strategic investment by Huobi Ventures, the $100 million venture arm of Huobi Group, to foster blockchain adoption and ecosystem expansion.
On the eve of the project’s first-year launch anniversary, Torum released its H2 strategic ecosystem expansion plan, prioritizing the construction of a one-stop crypto ecosystem. The plan includes core features that aim to solve the industry’s information asymmetry problems and improve the connection between projects and communities through a social-based ecosystem.
The expansion plan has caught the attention of the Huobi Ventures HECO Fund, which led to the strategic investment of the venture capital firm on Torum. With Huobi Ventures coming into the fold, Torum will assist in the expansion of the Huobi ecosystem from marketing and community building aspects, particularly in connecting Huobi and HECO-based projects with the Western market.
Torum H2 strategic ecosystem expansion plan
Torum NFT Launchpad: The initial NFT offering platform for projects to issue a set of limited edition NFTs to the community.
Torum NFT Marketplace: The first social-infused NFT marketplace with the ability to market NFTs to the users of Torum.
Torum Airdrop: A premium section for projects to conduct airdrops to the Torum community.
Torum News: A one-stop news and information aggregator for projects.
Torumgram: A bridge that connects Telegram groups and channels to Torum.
Torum Lounge: An audio-only board to conduct AMA and close-engaging events.
Huobi Ventures and Torum social media ecosystem
As part of the strategic investment, Huobi Ventures will provide access to resources for exclusive media partners, community building and project connections for Torum. The resource integration from Huobi will further expand the ecosystem outreach of Torum, which has already accumulated over 64,000 cryptocurrency enthusiasts from over 10 countries including the United States, Canada, Latvia, Spain, Germany, France, Poland and Malaysia, among others.
A key focus of Torum for H2 2021 is to bring onboard quality HECO-based projects to its social media ecosystem. With the support of Huobi Ventures, Torum can provide premium benefits to HECO-based projects including access to the Western market, community building tools, brand exposure, community integration, and more.
Yi Feng Go, CEO and founder of Torum, said:
“Community consensus has always been the largest asset of Torum. However, the vast potential of a social media ecosystem like Torum is yet explored completely at such an early phase. With the support of Huobi Ventures, we are confident that Torum can grow exponentially by bringing onboard HECO-based projects and their communities for the next six to 12 months. We are super excited to be working closely with ecosystem partners like Huobi Ventures.”
Loki Zeng, investment manager of Huobi Ventures, commented:
“Huobi Ventures HECO Fund strives to expand the Huobi ecosystem and welcome high-quality HECO-based projects like Torum. With the addition of a crypto-centric social media platform to our portfolio, we can utilize the core features of Torum like its NFT launchpad to provide community and resources outreach for the projects on the HECO ecosystem.”
About Huobi Ventures HECO Fund
Huobi Ventures is a wholly-owned subsidiary of the world’s second-largest cryptocurrency exchange. Huobi Group is focused on boosting the firm’s investment portfolio and providing long-term support for innovative blockchain projects.
Huobi Ventures HECO Fund mainly invests in upstream and downstream initiatives in the global blockchain industry. In addition to its exchange business, its investments also cover the primary market, secondary market quantitative funds, investment banking, incubators, asset management, wallets, mining, market data vendors, the global community, media, cybersecurity, public chains, decentralized application and platforms, regulation, talent recruiting, training and research.
Torum is the world’s first decentralized finance and NFT integrated social media platform that is specially designed for cryptocurrency users.
Backed by AU21, Consensus Lab, DFG, M6, Waterdrip Capital and 15 other prominent crypto VCs, Torum is now one of the fastest-growing crypto social media platforms with an impressive monthly user growth rate of 20% to 30%.