Cryptocurrency investors face a bustling agenda, and a significant announcement emerged at a much-anticipated event. The Avalanche Summit commenced yesterday, and we speculated that the gathering might yield groundbreaking news. The prominent Ethereum competitor has just delivered its first positive update.
Avalanche Developments
Chinese technology behemoth Alibaba’s Cloud division has devised a launchpad for businesses to establish metaverse spaces on the Avalanche blockchain. Dubbed Cloudverse, the platform streamlines corporate experimentation with novel customer engagement methods.
This collaboration marks Alibaba’s second foray into the cryptocurrency sphere in under a month, succeeding its agreement with Mysten Labs, developer of the Sui Layer1 network, to furnish node services for validators on the network’s testnet. As China signals its intention to legitimize cryptocurrencies, Chinese tech giants are forging closer ties with digital currencies.
In its latest proclamation, Alibaba stated:
Cloudverse is a comprehensive solution for designing, constructing, and managing a Metaverse space for your enterprise. This offering enables swift and straightforward Metaverse venue creation, professional land planning and governance services, and an open ecosystem to bolster customer engagement within the Metaverse. Alibaba Cloud supplies scalable, highly efficient, and secure cloud infrastructure services for Cloudverse provisioning, including computing, storage, database, networking, and intelligent operations platforms. Building upon these, Avalanche and MUA DAO provide solutions to assist in crafting Metaverse spaces.
The Metaverse
Throughout 2021, numerous enterprises inked deals with renowned metaverse projects. Companies partnered with The Sandbox and others to fashion virtual storefronts. However, with the initial excitement waning, endeavors in this sphere appear to have decelerated. In anticipation of the metaverse craze’s resurgence, Alibaba and Avalanche now proffer a more straightforward alternative for businesses to create their bespoke metaverse domains.
Many popular cryptocurrencies have entered agreements with companies like AWS, Alibaba, and Google Cloud. These partnerships are equipping major Cloud firms for the Web3 era. Already supplying a significant portion of the world’s server needs in Web2, these companies seek to maintain their standing in the forthcoming Internet epoch by pursuing logical strategies.
