Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has joined forces with layer-1 blockchain Avalanche to launch a metaverse solution known as Cloudverse. This solution allows businesses to construct and manage metaverse spaces while exploring novel approaches to engaging their clients.
This company claims it takes just 15 minutes to set up a chain, and builders can have their turnkeys and wallets ready within hours - this process is said to be faster than other metaverse solutions, providing visuals, metaeconomics, interactive functions, events and continued operations support.
Cloudverse
Alibaba Cloud, the digital technology and intelligence division of Alibaba Group, has joined forces with layer-1 blockchain Avalanche to offer businesses a metaverse deployment platform called Cloudverse. This new initiative gives businesses access to an easy metaverse-building tool on Avalanche blockchain that will allow them to design, deploy, manage and customize their own spaces on its subnets; using Avalanche technologies like smart contracts powered blockchain subnets as well as land, open ecosystem features plus wearables or other blockchain assets as part of the Avalanche platform will aid businesses.
Avalanche's layer-1 blockchain offers enterprises seeking to develop virtual worlds several advantages, including high scalability and security. Furthermore, Avalanche has implemented a proof-of-stake consensus mechanism which enables participants to control and verify transactions on its blockchain network. Furthermore, developers can build applications that run seamlessly without sacrificing performance on top of this platform.
According to Avalanche's official announcement, their collaboration with Alibaba Cloud will bring metaverses to a broader audience. As part of this partnership, Avalanche will offer developers looking to build and manage their own metaverses a full suite of services including infrastructure and support. They plan to launch the first of these metaverses on Avalanche by early 2023.
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MUA DAO
Metaverse offers architects who cannot fully express their creativity in real world environments an avenue to unleash it in virtual spaces such as Decentraland. Unfortunately, however, entering this virtual universe still poses several barriers; one being its high cost; currently the minimum quote for commercial temporary venue construction on Decentraland stands at $20,000.
Many traditional architects who possess professional training and design experience may balk at paying this hefty sum, as they perceive that creating scenes in the metaverse requires more than simply building structures; aesthetic design skills must also be utilized here.
The MUA DAO was created to break down these barriers and ease builders into entering the metaverse. It offers various services to assist builders, such as quick and easy introduction to crypto world, workshops for creating various metaverse platforms and support for first works produced within metaverse. Furthermore, influential guilds will be formed through gathering communities; architects may take part in various metaverse construction projects through taking part.
MUA DAO will offer services to brand owners for land rental and merchandise purchase fees, and collect fees from emerging metaverse platforms for building design/creation fees. These funds will then be deposited into its Treasury where community members will decide how best to spend them via on-chain voting.
Alibaba Cloud and Avalanche's partnership marks an exciting step towards making the metaverse more accessible to businesses. Their infrastructure-as-a-service initiative should bolster blockchain adoption across Asia, allowing users to launch node validators on Avalanche network. Together with Alibaba's existing business operations, MUA DAO may quickly become one of the premier platforms for launching and operating metaverse spaces - also offering enterprises an environment to test out business strategies before taking them live in real life.
Avalanche’s Subnets
Avalanche allows developers to design networks tailored specifically for their projects on Avalanche's primary network, but can still customize subnets according to individual needs and requirements. A major step toward metaverse interoperability, it gives users more choice in selecting platforms without being limited by specific blockchain restrictions.
Avalanche subnets are an integral component of the ecosystem, providing institutions with an easy way to test DeFi applications without risking their own capital. EVM-based chains with permissioned validator sets and custom gas tokens enable institutions to perform transactions on other subnets using Avalanche subnets like Spruce; its total value limit (TVL) reached nearly $500 Million at its height allowing institutions to test DeFi strategies without burdening the main chain with too many transactions at one time. This scales the network while alleviating congestion on main chains while scaled networks like Spruce can reduce network congestion for other subnets compared with main chains with this scaling mechanism reducing network effects as it scales and scales down all relevant transactions in terms of efficiency for institutions who wish to explore DeFi strategies at risk by trialling DeFi strategies without risk.
Every Avalanche subnet supports multiple technology stacks and features, including VR/AR, gaming and NFTs. This will enable developers to create complex yet immersive experiences for anyone with internet access and browser.
Alibaba Cloud will speed the expansion of the Avalanche ecosystem and help bring more people into Web3.0 space - potentially leading to investments as well as expanding user-generated content creation.
Avalanche and Alibaba previously collaborated in December to offer infrastructure technologies and tools to assist Asia users launching validators on Avalanche network, including plug-and-play and node-as-a-service initiatives designed to expand blockchain adoption in the region.
Emin Gun Sirer, founder and CEO of Ava Labs, revealed that this partnership will enable anyone to easily establish their own metaverse space on Avalanche platform in 15 minutes or less, with businesses ready to conduct operations within hours. Builders will have access to support systems including visuals, meta-economics, continued operations, events as well as any native blockchain token they choose as gas fees.
The Future of Web3
Web3's blockchain system lies at its core. The platform aims to democratize Internet usage and restore control back to users while also allowing people to own digital assets - such as non-fungible tokens (NFTs), used for trading virtual goods and services - empowering individuals while challenging existing gatekeepers.
Noting the importance of decentralization, blockchain is a decentralized network that operates without needing a central authority to operate effectively. Censorship-resistant and offering strong data protection features, this blockchain-powered virtual world supports immersive experiences via an open-source project with a large developer community.
Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence has highlighted several advantages associated with the Metaverse. These include being a safe and secure environment for businesses, and its various features - multitasking UI and augmented reality for example - making communication with customers and employees simpler for companies. In addition, accessing this global marketplace becomes much simpler.
Metaverse can also serve as a great platform to promote new products and services to reach a broader audience than ever before. However, companies must remember that the technology remains in its initial phases; so companies should proceed cautiously when entering this space.
Metaverse is an exciting frontier that promises to revolutionise how we use the Internet. From virtual worlds and social networking services, to creating new economies and business models - its potential is enormous! Plus, people will have easier interaction both within real life and Metaverse itself.
Even with these obstacles in place, the Metaverse remains an invaluable tool for entrepreneurs and developers. Already it is starting to revolutionize our lives; over time it will continue to expand. While some investors remain wary about it's potential benefits it should not be forgotten that this technology holds great promise for change.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.