Ethereum Competitor Avalanche (AVAX) Partners With Chinese Tech Giant Alibaba Cloud on New ‘Cloudverse’ Project

Ethereum Competitor Avalanche (AVAX) Partners With Chinese Tech Giant Alibaba Cloud on New ‘Cloudverse’ Project

Alt coin
May 7, 2023 by secret
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Chinese tech giant Alibaba Cloud is collaborating with Ethereum (ETH) rival Avalanche (AVAX) to venture into the metaverse. In a new announcement, the layer-1 protocol says that it is partnering up with Alibaba Cloud to create Cloudverse, a virtual space for businesses and brands. “Alibaba Cloud announced that they are entering the metaverse – on
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Chinese tech giant Alibaba Cloud is collaborating with Ethereum (ETH) rival Avalanche (AVAX) to venture into the metaverse.

In a new announcement, the layer-1 protocol says that it is partnering up with Alibaba Cloud to create Cloudverse, a virtual space for businesses and brands.

“Alibaba Cloud announced that they are entering the metaverse – on Avalanche! With Cloudverse, Alibaba Cloud’s millions of clients can easily deploy custom metaverses and unlock new dimensions for consumers.”

According to a blog post by Avalanche, Alibaba Cloud will provide the digital infrastructure while Avalanche, along with the Metaverse Union of Architects (MUA) decentralized autonomous organization (DAO), will provide metaverse-building solutions.

As stated by John Wu, president of Ava Labs,

“Alibaba Cloud and Avalanche continue to change how enterprises can create value and seize the opportunities of Web3. Cloudverse powered by Avalanche offers millions of consumer-facing businesses a quick, low-overhead, one-stop gateway into Web3. We look forward to seeing how businesses expand into the Cloudverse – and to continuing to build the future with Alibaba Cloud.”

Avalanche says that users will be able to launch their customized metaverse spaces as soon as a month after initial outreach.

The ETH challenger will also provide businesses on the Cloudverse support on visuals, meta-economics, interactive functions, events, and continued operations, according to the blog post.

Avalanche and Alibaba Cloud initially formed a partnership in December 2022 when they struck a deal that would allow developers to spin up AVAX validator nodes through Alibaba’s services.

Avalanche is trading for $17.41 at time of writing, a 2.2% gain during the last 24 hours.

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