Alibaba and Avalanche Collaborate for Metaverse

While the crypto ecosystem is growing on the blockchain but at the same time other segments are also getting more attention from the communities and even some bigger tech giants are getting on board. It is good if more people are adopting the blockchain and many other related things but the entry of any bigger tech giant is always a great addition to the crypto community. We know that during the bear market, such companies focus more on development and they try to build because later on when the cycle changes then they can encash the opportunity. Now since we are going through the bear market phase so we often hear about some fantastic updates or collaborations that are trying to explore blockchain technology and build something that can create more value addition to the crypto community.

src

Now there is another fantastic news or you can call it an update that Alibaba Cloud and Avalanche have joined hands together to build a metaverse on the blockchain. Metaverse is not a new thing but certainly, it is getting more attention because there are so many companies working on it and most of these are tech giants that have got so much funding and they are on top of the list in the world. This is a big step I believe because now in the metaverse we are going to see happening a lot of development and maybe in the future we can also experience something that we never expected. While the metaverse is getting more attention from the leading technology giants which also means that it will result in the crypto and overall market cap appreciation and also for various blockchain native tokens.

Alibaba Cloud will utilize its cloud computing, artificial intelligence, and data analytics expertise to build a launchpad called Cloudverse, which will enable businesses to create, customize, and maintain their metaverse environments on the Avalanche blockchain. The partnership between Alibaba Cloud and Avalanche is intended to empower developers to create a secure virtual world that seamlessly connects to a broader ecosystem.

Avalanche is already a leading blockchain with its coin known as AVAX and its rank is 16th as per the coinmarketcap. Now with a partnership with Alibaba Cloud, this can go to the next level and probably the value of AVAX might increase because it will attract more people in the metaverse. I believe that this is going to be a great partnership altogether and it might take some time to show the impact on the market, especially on this token price but looks like things are going well.

src

It will not be a surprise if some other technology giants make such a move again because following the trend is pretty common in this market where bigger technology companies do not try to miss the opportunity. This is the right move that technology companies need to adopt the change and evolve themselves to stay updated with the trend else they might become obsolete and that is never the intent.

The future is going to be exciting and in the coming months or years, we are going to see a lot of development and even the outcome in the form of new projects that would be offering next-level experience. There are already some projects in Meta but coming more names to the list is always good because this will create an environment where companies will be required to come out with innovations and that is something needed to bring more value.

Thank you so much
Stay Safe

Posted Using LeoFinance Alpha