Alibaba Cloud, the computing and storage division of Chinese internet giant Alibaba, has entered into a significant relationship with the NEAR Basis, a nonprofit organization working to develop the NEAR blockchain.
Following the news, the value of NEAR Protocol increased by double digits, ranging from $1.35 to $1.61 early on Monday. The three-week high for NEAR/USD occurs as the overall cryptocurrency market seems to be building on last week’s upward trend, which gained traction from the spot Bitcoin ETF data.
Alibaba Cloud and NEAR Basis collaborate
The NEAR Basis and Alibaba Cloud may collaborate to promote Web3 adoption in Asia and the Middle East.
According to a statement from the non-profit organization based in Switzerland, the partnership gives NEAR access to the cloud computing provider’s developer ecosystem.
As more developers build on the NEAR protocol, they will tap into the community across Asia and the Middle East. In particular, the partnership enables NEAR Protocol developers to quickly use the “plug-and-play” infrastructure of Alibaba Cloud.
The remote procedure calls (RPC) as-a-service offering, which enables multi-chain access to blockchain data and transactions, will also benefit users.
The collaboration with Alibaba Cloud comes just a few days after the NEAR Basis partnered with Vortex Gaming, the Web3 division of the gaming company INVEN located in South Korea. The collaboration seems to enhance Web3 gaming on Vortex Gaming and the NEAR gaming ecosystem, including through offline hackathons.
Vortex Gaming will connect to the Blockchain Working System (BOS), an open-source operating system for the public internet, and each NEAR’s layer-1 protocol. BOS, a multi-chain appropriate layer for finding and discovering the Open internet, was introduced by NEAR Basis in March.