Amazon Web Services (AWS) has announced a strategic partnership with Cronos Labs, a Web3 startup that focuses on DeFi, blockchain games, and other decentralized applications. This collaboration aims to accelerate the growth of Web3 startups and drive the adoption of blockchain technology across various sectors. The announcement has led to a significant increase in the price of CRO, the native token of the Cronos ecosystem.
The partnership between AWS and Cronos Labs will focus on supporting the growth of Web3 startups through the Cronos Accelerator Program. AWS will provide access to its resources and expertise in cloud computing, while Cronos Labs will contribute its knowledge in blockchain development. The collaboration will help startups scale and develop applications in the areas of DeFi, GameFi, SocialFi, and Infrastructure.
CRO Price Surge
Following the announcement, the price of CRO, the native token of the Cronos ecosystem, rose by 15% within 24 hours. Trading volumes also increased by over 500%, indicating significant interest from investors and traders in the cryptocurrency market.
Amazon’s Blockchain Ambitions
The partnership with Cronos Labs is not the first time Amazon has ventured into the blockchain and cryptocurrency space. AWS has previously collaborated with Ava Labs to promote blockchain adoption, partnered with Chainlink (LINK) for node-creation solutions, and worked with VeChainThor for blockchain-based carbon management services. The crypto community is also eagerly awaiting the rumored launch of the Amazon NFT Marketplace, which is expected to take place in May.