- Alibaba Group Holding Limited's BABA cloud unit has collaborated with layer-1 blockchain Avalanche and MUA DAO to help implement the integration and customization for metaverses and web3.
- Alibaba's extended partnership with Avalanche will offer Alibaba Cloud clients a launchpad, Cloudverse, to help businesses customize, launch and maintain their metaverse spaces on Avalanche's blockchain, TechCrunch reports.
- Avalanche's infrastructure will also help create customizable blockchain solutions through the Cloudverse.
- Also Read: Alibaba Likely To Struggle With Cloud Growth, Analysts Say; Needs New Growth Driver For Other Businesses
- MUA DAO is the service layer that will help implement the integration and customization for metaverses and web3.
- The ability to launch metaverses quickly and efficiently could open doors for enterprises that do not have the time or resources to undertake these platforms.
- In December, Alibaba Cloud began providing infrastructure and tools to help Asia-based users launch validators on the Avalanche network.
- That original iteration provided plug-and-play and node-as-a-service initiatives to help expand blockchain adoption in Asia.
- According to John Wu, president of Ava Labs, Alibaba Cloud has about 4 million customers and 10 million developers.
- From Alibaba's perspective, one of the ways to get the Asian enterprise ecosystem into web3 is through the metaverse, Wu said.
- Price Action: BABA shares traded higher by 0.09% at $82.57 on the last check Friday.
- Photo via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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