Decentralised blockchain network MultiversX has announced its partnership with Tencent Cloud, a cloud company creating innovative solutions to resolve real-world issues. The partnership will help the company expand its Web3 products.
Tencent Cloud is the Chinese tech company behind the popular app WeChat. The new partnership will see the company utilise MultiversX network infrastructure to build not only Web3 products but new metaverse and blockchain-based products.
Beniamin Mincu, MultiversX CEO said “The MultiversX focus on delivering the backbone of a globally scalable, open, composable and interoperable ecosystem of Metaverse worlds is a defining factor in our strategic partnership with Tencent Cloud. We are excited to work with Tencent Cloud, and expand on this vision.”
Strategic partnership for Web3
Formerly known as Elrond, the company rebranded to MultiversX to focus on its metaverse initiatives. “Today, we are thrilled to announce our strategic collaboration with Tencent Cloud, the cloud business of the world-renowned technology company Tencent. Together, we will leverage the MultiversX blockchain and suite of products, to explore new paths toward value creation, within the Web3 and the Metaverse space.” the company wrote in a blog post.
Tencent announced in May 2020 that it would be investing $70 million into blockchain technologies and in January last year, the behemoth tech company added support for Digital Yuan in WeChat’s wallet.
“From providing the best hyperscale infrastructure to creating a one-stop shop for cloud solutions, we aim to support the global Web 3.0 community to adopt critical technologies to drive deeper connections between the virtual and real worlds,” says Leo Li, Vice President of Europe, Tencent Cloud International.
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
