Alibaba Group joins forces with Avalanche on 'Cloudverse' metaverse launchpad

Alibaba Group joins forces with Avalanche on 'Cloudverse' metaverse launchpad Alibaba AlibabaCloud AvaLabs

- Alibaba Group, the Chinese multinational technology company that specializes in e-commerce, retail, internet, and technology, is looking to increase its presence in the metaverse with the release of Cloudverse, a launchpad for metaverse projects on the Avalanche network.

A third partner, MUA DAO, will act as the service layer for the platform and will help implement the integration and customization for metaverses. While the metaverse remains a popular catchphrase, companies have struggled thus far in figuring out how to harness the concept in their businesses as a way to engage their customers and create additional revenue.

The companies said that it would take about a month for a metaverse space to be up and running after the initial outreach by an interested firm. To help support the uptake of Cloudverse, builders on the platform will receive support for visuals, metaeconomics, interactive functions, events, continued operations and more, Alibaba and Avalanche said.

Ava Labs has been one of the more active and collaborative projects in the blockchain industry over the past year.

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