Worldsfeed Tech Desk: Chinese technology giant Alibaba Cloud is partnering with Avalanche, a blockchain platform and Ethereum competitor, to create a virtual space for businesses and brands. The joint venture, called Cloudverse, aims to provide millions of Alibaba Cloud’s clients with an easy-to-use platform to deploy custom metaverses, allowing them to unlock new dimensions for consumers.
According to a blog post by Avalanche, Alibaba Cloud will provide the digital infrastructure, while Avalanche and the Metaverse Union of Architects (MUA) decentralized autonomous organization (DAO) will provide metaverse-building solutions. Users will be able to launch their customized metaverse spaces as soon as a month after initial outreach, the company said.
The ETH challenger will also provide businesses on the Cloudverse with support on visuals, meta-economics, interactive functions, events, and continued operations, according to the blog post. Avalanche says that the platform will offer millions of consumer-facing businesses a quick, low-overhead, one-stop gateway into Web3.
John Wu, president of Ava Labs, the company behind Avalanche, said the partnership would enable enterprises to create value and seize the opportunities of Web3. Wu said, “We look forward to seeing how businesses expand into the Cloudverse – and to continuing to build the future with Alibaba Cloud.”
The partnership between Avalanche and Alibaba Cloud began in December 2022 when they signed a deal to allow developers to spin up AVAX validator nodes through Alibaba’s services.
The announcement marks the latest collaboration between a major technology company and a blockchain platform. As the metaverse grows in popularity, technology giants are looking to capitalize on the trend and collaborate with blockchain companies to create virtual environments that can be used by businesses and consumers alike.
Avalanche is a blockchain platform that enables developers to build decentralized applications and custom blockchain solutions. The platform uses a consensus mechanism called Avalanche, which can confirm transactions in under two seconds, making it one of the fastest blockchain platforms in the market.
Alibaba Cloud, the cloud computing arm of Alibaba Group, is one of the largest cloud computing providers in the world, offering a range of cloud computing services, including data storage, processing, and analytics. The company has been actively exploring the potential of blockchain technology and has previously partnered with blockchain companies to offer blockchain-as-a-service solutions.
The Cloudverse project is part of a wider effort by Alibaba Cloud to expand its presence in the blockchain space. The company has also launched its own blockchain platform, AntChain, which aims to provide businesses with a secure and efficient way to manage their digital assets.
In conclusion, the partnership between Alibaba Cloud and Avalanche is a significant development in the blockchain space and the metaverse. The Cloudverse project aims to provide businesses with an easy-to-use platform to deploy custom metaverses and unlock new dimensions for consumers. The partnership marks a further step towards the mainstream adoption of blockchain technology and the metaverse, with major technology companies looking to capitalize on the trend and collaborate with blockchain platforms to create virtual environments for businesses and consumers alike.