Where Is The Next Leg Of Growth For Alibaba Cloud? Company Taps Metaverse And Web3
Alibaba Group Holding Limited's (NYSE: 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.
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
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