Huobi launches Filecoin incubator backed by $10 million fund

Huobi Group unveiled Tuesday a new incubator program focused on Filecoin and backed with a $10 million investment fund.

The press release describing the launch states the incubation center will focus on investing in ecosystem projects as well as providing support to the wider Filecoin community. As part of the arrangement, Protocol Labs will provide technical advisory support to projects that join the incubator and participate in related events.

"Right now the internet is in the middle of a revolution, and, with the launch of Filecoin, it is beginning the transition back to its decentralized roots so we can all work together to safeguard this valuable resource for the world,” said Juan Benet, founder of Protocol Labs and Filecoin, in the press release. 

Sharlyn Wu, the head of Huobi’s decentralized business department, will supervise the incubation center. The incubation center follows the launch of Huobi DeFi Labs, an incubator program focused on decentralized finance applications and projects.