Alibaba Cloud Builds Metaverse Launchpad on Avalanche

Named Cloudverse, the launchpad is designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces.

AccessTimeIconMay 4, 2023 at 3:27 p.m. UTC
Updated May 9, 2023 at 4:13 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The cloud division of Chinese tech behemoth Alibaba (BABA) has built a launchpad for businesses to deploy metaverses on the Avalanche blockchain.

Named Cloudverse, the launchpad is designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces to try and find new ways of engaging with their customers.

  • Why Prada Is at the Forefront of Digital Fashion and Metaverse
    00:54
    Why Prada Is at the Forefront of Digital Fashion and Metaverse
  • What Will The Metaverse Look Like in the Future?
    16:36
    What Will The Metaverse Look Like in the Future?
  • The Sandbox Wants to Make India Its Largest Market Within the Next Two Years
    01:22
    The Sandbox Wants to Make India Its Largest Market Within the Next Two Years
  • Saudi Arabia's NEOM Is Working to Build the 'City of the Future' With Blockchain, Web3: Yat Siu
    11:34
    Saudi Arabia's NEOM Is Working to Build the 'City of the Future' With Blockchain, Web3: Yat Siu
  • Avalanche will provide the technology for building the metaverse spaces, while Alibaba Cloud will provide the computing and storage, according to an emailed announcement on Thursday.

    The partnership is Alibaba's second such tie-up with a blockchain network in less than a month, following its agreement with Mysten Labs, developer of the Sui Layer 1 blockchain, to provide node services for validators on the network's testnet.

    Avalanche's native token AVAX was little affected by the initial announcement of the news, rising less than 1% from $16.86 to $16.98 as of 15:20 UTC (11:20 a.m. ET).

    Edited by Nelson Wang.




    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.