The cloud division of Chinese tech giant Alibaba (BABA) has created a platform for businesses to launch metaverses on the Avalanche blockchain.
Cloudverse, a launchpad coined for its purpose, was created to give businesses a comprehensive platform for personalizing and maintaining their metaverse environments, in order to explore novel methods of connecting with their customers.
An emailed announcement on Thursday revealed that Avalanche will supply the technology to construct metaverse spaces, while Alibaba Cloud will offer computing and storage.
Alibaba has formed a partnership with another blockchain network, Mysten Labs, in less than a month. Mysten Labs is the developer of the Sui Layer 1 blockchain and Alibaba will provide node services to validators on the network’s testnet.
The announcement of news had little effect on Avalanche’s native token AVAX, as it rose less than 1% from $16.86 to $16.98, according to 15:20 UTC (11:20 a.m. ET) data.