- August 6, 2021
- Posted by: tacapitalinvestments
- Categories: Press release, Torum
PRESS RELEASE. Torum announces strategic investment by Huobi Ventures, the $100 million venture arm of Huobi Group to foster blockchain adoption and ecosystem expansion.
5th August 2021, Kuala Lumpur, Malaysia — On the eve of the project’s 1st year launch anniversary, social media platform Torum has 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.
Torum H2 Strategic Ecosystem Expansion Plan
The Torum H2 Strategic Ecosystem Extension plan will include numerous core features, including:
- Torum NFT Launchpad: The INO 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 airdrop to the Torum community
- Torum News: A one-stop news and information aggregator for projects
- Torumgram: A bridge that connects Telegram groups and channels into Torum
- Torum Lounge: An audio-only board to conduct AMA and close-engaging events.
The expansion plan has caught the attention of the Huobi Ventures HECO Fund, which led to the strategic investment of the VC 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.
Yi Feng Go, CEO & Founder of Torum said that:
“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 6 to 12 months. We are super excited to be working closely with ecosystem partners like Huobi Ventures.”
As part of the strategic investment, Huobi Ventures will provide resource access to 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 U.S, Canada, Latvia, Spain, Germany, France, Poland, Malaysia, etc.
Huobi Ventures and HECO
One of the key focuses 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.
Loki, Investment Manager of Huobi Ventures commented that:
“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 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, DAPP, and platforms, regulation, talent recruiting, training, and research.
Torum is the world’s first DeFi + 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 20 – 30% monthly user growth rate.
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