Layer 1 blockchain Avalanche (AVAX) has joined forces with Alibaba Group’s digital technology and intelligence division, Alibaba Cloud to help businesses build, launch and maintain their own metaverse spaces on the blockchain.
A digital world parallel to our real life has gained enormous pace. Since Facebook announced it was rebranding to Meta, the concept of “Metaverse” has exploded. From global conglomerates to street artists, everyone seems to have hopped on board the metaverse bandwagon envisioning a new digital economy, where users can create, buy, and sell goods without the intervention of a central authority.
Driven by Web3 technologies such as augmented reality (AR), virtual reality (VR), artificial intelligence (AI), and Distributed Ledger Technology (DLT), the Metaverse aims to be a bridge between the physical and digital realms.
Alibaba Enters The Metaverse
On May 4, Avalanche took to Twitter to announce the collaboration with the e-commerce behemoth to build “Cloudverse”, a launchpad designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces.
Today, @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.#Avalanche will provide all blockchain elements for Cloudverse👇 pic.twitter.com/AlibhHjidN
— Avalanche 🔺 (@avax) May 4, 2023
This launchpad will be available to Alibaba Cloud clients along with billions of users worldwide. In addition, the partnership will allow companies building on Cloudverse to access support, visualizations, and other interactive functions through the Avalanche platform. The blockchain firm tweeted,
“Built on Alibaba Cloud‘s efficient and secure cloud offerings, Cloudverse gives businesses an easy, white-glove, and cost-effective way to expand their brands to the Web3 virtual world.”
As per the official blog post, there is also a third partner, Metaverse Universal Assets Autonomous Decentralized Organization (MUA DAO), which is the service layer that will help implement the integration and customization for the metaverses. The move could benefit businesses on a global scale to launch metaverses in an efficient manner that don’t have the time or resources to launch these digital platforms.
John Wu, President of Ava Labs explained the partnership between Avalanche (AVAX) and Alibaba plans to change how enterprises can create value and seize the opportunities of Web3. With the skyrocketing popularity of blockchain technology and the metaverse, there is a strong demand from businesses to enter the Web3 world. He added,
“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.”
Metaverse Worldwide Adoption Rises
Undeterred by the recent slump, numerous companies have already embraced the metaverse, investing billions of dollars. Major players in the metaverse space, such as Meta, are pushing towards building the metaverse, despite incurring severe losses. These firms seek to reduce costs and lower barriers to entry, allowing the technology to reach more businesses and impact people’s lives worldwide.
#NISSAN has filed 4 trademark applications for
The filings signal plans for
🚗Virtual Clothes + Cars
🚗Stores for Virtual Goods + NFTs
🚗NFT Marketplaces + Trading + Minting
🚗Metaverse Advertising Services#NFT #NFTCommunity #Metaverse #Web3 #Car pic.twitter.com/iG3ZVgyD5t
— Mike Kondoudis (@KondoudisLaw) March 13, 2023
Over the recent past, several multi-billion dollar companies from various industries have joined in the Web3 and metaverse craze. Recently, Japanese multinational automobile manufacturer, Nissan filed for four new Web3-related trademarks in the United States for its Infiniti, Nismo, and Nissan brands. The car giant’s Japan unit is also dabbling with auto sales in the metaverse.