The NEAR Foundation, a non-profit organization dedicated to developing the NEAR protocol, has joined forces with Alibaba Cloud to foster the growth of Web3 technology in Asia and the Middle East. This strategic partnership opens up new avenues for developers and validators, leveraging Alibaba Cloud’s extensive infrastructure and developer ecosystem. By combining forces, NEAR Foundation and Alibaba Cloud aim to accelerate the adoption of Web3 in regions with untapped potential.
Unlocking Developer Potential
Through this collaboration, the NEAR Foundation gains access to Alibaba Cloud’s developer ecosystem in Asia and the Middle East. This expanded access enables a larger number of developers to create innovative projects on the NEAR protocol, propelling the advancement of the Web3 sector. Additionally, developers looking to launch a new NEAR validator can leverage Alibaba Cloud’s convenient “plug-and-play” infrastructure, streamlining the process and reducing barriers to entry.
Alibaba Cloud goes a step further by offering remote procedure calls as a service to developers and users within the NEAR ecosystem. This seamless integration simplifies the development process and enhances the user experience by providing efficient and reliable communication channels. With the power of Alibaba Cloud’s infrastructure, developers can focus on building transformative applications on the NEAR protocol.
Enhanced Data Query Capabilities
Recognizing the importance of data accessibility, Alibaba Cloud extends its support to NEAR developers by providing multi-chain indexing. This feature offers a data-query application programming interface (API) that empowers developers to retrieve valuable information from various blockchain networks. By enabling efficient data retrieval, Alibaba Cloud contributes to the growth of data-driven applications and fosters innovation within the NEAR ecosystem.
This groundbreaking partnership bolsters the NEAR Foundation’s position in the rapidly expanding Web3 sector, particularly in regions where Web3 is still emerging. Raymond Xiao, head of international Web3 solutions at Alibaba Cloud Intelligence, highlighted the significance of the collaboration, stating, “The NEAR Foundation and Alibaba Cloud partnership is an important one as we continue to support Web3 developers in exploring opportunities.” Xiao further emphasized the benefits for developers and validators in Asian markets, as they can leverage Alibaba Cloud’s comprehensive infrastructure to accelerate their projects.
Amplifying NEAR’s Popularity
Alibaba Cloud’s immense popularity in China and across Asia is expected to augment NEAR’s reach and popularity. This effect is further reinforced by Alibaba Cloud’s recent announcement appointing pro-crypto advocate Joseph Tsai as the new Chairman.
Tsai’s active involvement in the crypto space, including investments in projects like FTX, Polygon, and Artifact Labs, signifies Alibaba Cloud’s commitment to supporting blockchain-related endeavors. NEAR’s association with Alibaba Cloud, coupled with Tsai’s influence, enhances NEAR’s potential for success in the region.
The NEAR Foundation has demonstrated its dedication to building decentralized applications across various industries, such as gaming and finance. Through its previous work, the foundation has laid a solid foundation for the adoption of Web3 technology. This partnership with Alibaba Cloud allows NEAR to expand its outreach, facilitating increased user adoption and furthering decentralization efforts across the blockchain ecosystem.
NEAR’s Surge and Future Collaborations
After the partnership announcement, the market price of NEAR experienced a significant surge of 8%, reaching $1.57, clearly indicating a positive response from investors and the market as a whole. This price increase demonstrates the market’s confidence in the potential benefits resulting from the collaboration between NEAR Foundation and Alibaba Cloud.
Looking ahead, both NEAR Foundation and Alibaba Cloud have ambitious plans to further expand their collaboration. They aim to actively participate in various global Web3 conferences and events, leveraging these platforms to showcase their joint initiatives and engage with the wider Web3 community. By participating in these industry gatherings, NEAR Foundation and Alibaba Cloud seek to share their expertise, exchange ideas, and forge new partnerships to drive the growth and adoption of Web3 technologies worldwide.
Notably, the partnership announcement closely follows Alibaba’s recent appointment of Joseph Tsai as the new Chairman. Tsai has gained recognition for his active investments in the Web3 sector, demonstrating his strong belief in the transformative potential of blockchain technology. With Tsai at the helm, Alibaba is poised to embrace and support the development of Web3 initiatives, aligning perfectly with NEAR Foundation’s mission and reinforcing the strength of their partnership.
Final Thought
The collaboration between the NEAR Foundation and Alibaba Cloud marks a significant milestone in the advancement of Web3 technology. By harnessing the power of Alibaba Cloud’s infrastructure and developer ecosystem, the partnership creates an environment that empowers developers and validators in Asia and the Middle East. As NEAR strengthens its presence in these regions, the widespread adoption of Web3 becomes increasingly achievable, driving innovation, and revolutionizing industries across the globe.