Alibaba Cloud, a division of Alibaba Group, has teamed up with Avalanche (AVAX), a Layer 1 blockchain platform, to develop Cloudverse, a comprehensive launchpad for businesses to create and manage their metaverse spaces. This partnership comes in response to the growing interest in metaverse technology and its potential impact on the digital economy.
Collaboration for a Seamless Metaverse Experience
The partnership between Alibaba Cloud and Avalanche aims to provide an easy-to-use, secure, and affordable solution for businesses to enter the metaverse, leveraging Alibaba Cloud’s efficient and secure cloud services. Cloudverse will allow Alibaba Cloud clients and billions of users worldwide to access this launchpad and utilize Avalanche’s platform for assistance, visualizations, and other interactive features.
Integrating Web3 Technologies
Cloudverse plans to combine the physical and digital worlds by utilizing Web3 technologies such as Distributed Ledger Technology (DLT), artificial intelligence (AI), virtual reality (VR), and augmented reality (AR). By working together, Alibaba Cloud and Avalanche hope to change how businesses can benefit from Web3 opportunities and create value in the metaverse.
Role of the MUA DAO
The Metaverse Universal Assets Autonomous Decentralized Organization (MUA DAO) has been identified as the third collaborator in the partnership. The MUA DAO will act as the service layer to assist in the implementation and customization of metaverse integration, enabling businesses to efficiently launch their metaverse spaces even if they lack the time or resources to develop them independently.
Expanding the Metaverse Economy
As more companies invest in the metaverse and the technology becomes more accessible, the potential for a new digital economy grows. Cloudverse aims to be a single, affordable Web3 gateway for numerous businesses looking to engage with customers in the metaverse, further fuelling its growth and impact.