In short: Alibaba Cloud, with Avalanche and MUA DAO, has created "Cloudverse" as a solution for businesses to deploy metaverse spaces on a Layer 1 blockchain. Digital assets, wearables and land elements are built on Avalanche. The platform aims to provide customers with a one-stop, end-to-end solution and elevate customer experiences alongside likely innovations.
Our quick analysis:
Alibaba Cloud, the cloud computing giant and a subsidiary of the Chinese e-commerce company Alibaba, has partnered with Avalanche to launch the Cloudverse, a platform designed for businesses to deploy their own metaverse spaces on the blockchain. The platform allows for easy customization, maintenance, and launch of the metaverse while creating new dimensions for customer engagement.
The metaverse launchpad, built on Avalanche, will offer digital assets such as wearables and digital land, while Alibaba Cloud is responsible for providing secure, scalable, and efficient cloud infrastructure offerings.
According to Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, there is a growing demand from businesses in the Asia-Pacific region seeking to enter the Web3 space due to the growing popularity of blockchain technology and the metaverse.
The partnership between Alibaba and Avalanche goes back to December 2022 when the two entities announced an integration for Alibaba's Node-as-a-Service initiatives.
As Alibaba strengthens its footprint in the Web3 space, it has announced several partnerships, including one with Mysten Labs and Elastos, to develop sustainable Web3 ecosystems. Through these partnerships, Alibaba is working towards creating a more inclusive and secure modern internet powered by blockchain technology.
The launch of the Cloudverse is a significant step by Alibaba Cloud towards a comprehensive Web3 strategy that will shape the future of the internet.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Alibaba Cloud, the cloud computing giant and a subsidiary of the Chinese e-commerce company Alibaba, has partnered with Avalanche to launch the Cloudverse, a platform designed for businesses to deploy their own metaverse spaces on the blockchain. The platform allows for easy customization, maintenance, and launch of the metaverse while creating new dimensions for customer engagement.
The metaverse launchpad, built on Avalanche, will offer digital assets such as wearables and digital land, while Alibaba Cloud is responsible for providing secure, scalable, and efficient cloud infrastructure offerings.
According to Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, there is a growing demand from businesses in the Asia-Pacific region seeking to enter the Web3 space due to the growing popularity of blockchain technology and the metaverse.
The partnership between Alibaba and Avalanche goes back to December 2022 when the two entities announced an integration for Alibaba's Node-as-a-Service initiatives.
As Alibaba strengthens its footprint in the Web3 space, it has announced several partnerships, including one with Mysten Labs and Elastos, to develop sustainable Web3 ecosystems. Through these partnerships, Alibaba is working towards creating a more inclusive and secure modern internet powered by blockchain technology.
The launch of the Cloudverse is a significant step by Alibaba Cloud towards a comprehensive Web3 strategy that will shape the future of the internet.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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