Alibaba Cloud, the cloud division of Chinese tech behemoth Alibaba (BABA), has introduced Cloudverse, a launchpad designed to offer businesses an end-to-end platform for customizing and maintaining their metaverse spaces on the Avalanche blockchain. This partnership aims to facilitate new ways for companies to engage with customers.
While Avalanche will supply the technology for constructing metaverse spaces, Alibaba Cloud will contribute computing and storage resources.
This collaboration represents Alibaba’s second partnership with a blockchain network in less than a month, following its agreement with Mysten Labs, the developer of the Sui Layer 1 blockchain. With this utility, Alibaba will provide node services for validators on the network’s testnet.
Avalanche’s native token, AVAX, was not significantly affected by the announcement of the news, experiencing a rise of less than 1% from $16.86 to $16.99.