The NEAR Foundation, a non-profit organization responsible for the development of the NEAR protocol, has formed a strategic partnership with Alibaba Cloud to promote the growth of Web3 technology in Asia and the Middle East. With this collaboration, NEAR Foundation can tap into Alibaba Cloud’s extensive developer ecosystem across the two regions, enabling a larger pool of developers to create projects using the NEAR protocol.
One aspect of the partnership enables developers to launch a new NEAR validator with the help of Alibaba Cloud’s easy-to-use infrastructure. The company will also offer remote procedure calls (RPCs) as a service for developers and users in the NEAR ecosystem. Additionally, Alibaba Cloud will provide multi-chain indexing to offer a data-query application programming interface (API) to developers.
This alliance allows the NEAR Foundation to strengthen its foothold in the burgeoning Web3 sector, particularly in regions where the sector is still in its nascent stage but holds huge potential for growth. Raymond Xiao, head of international Web3 solutions at Alibaba Cloud Intelligence, has emphasized the significance of this partnership for developers and validators in Asian markets by citing Alibaba Cloud’s comprehensive infrastructure in the region.
It is important to note that NEAR’s popularity stands to benefit from Alibaba Cloud’s established presence in China and wider parts of Asia. With pro-crypto Joseph Tsai slated to replace Daniel Zhang as the new Chairman, the e-commerce giant’s renewed focus on the crypto space may provide NEAR with an advantage. Tsai has previously invested in FTX, Polygon, and Artifact Labs.
Prior to this partnership, the NEAR Foundation concentrated on developing decentralized applications (dApps) across various industries like gaming and finance. The new collaboration with Alibaba Cloud enables NEAR to widen its reach, aiming to increase user adoption and facilitate a higher degree of decentralization throughout the blockchain ecosystem.
Following the announcement of this alliance, NEAR’s native token experienced an 8% surge, with the price currently trading at $1.56, reflecting an increase of more than 31% in the past two weeks. NEAR’s recent announcements, such as the launch of its Blockchain Operating System (BOS), have contributed to its growing popularity in the Web3 sector.
In conclusion, the partnership between the NEAR Foundation and Alibaba Cloud equips the NEAR protocol with the necessary resources to expedite Web3 growth in Asia and the Middle East.
Source: Cryptonews
