NEAR Foundation announces Web3 partnership with Alibaba

  • NEAR prices rose double digits on Monday after news of a partnership with Alibaba.
  • The NEAR token climbed to a high of $1.61, its highest level in three weeks since early June.
  • NEAR has risen following news that the NEAR Foundation has partnered with Alibaba Cloud to support Web3 in Asia and the Middle East.

The NEAR Foundation, a non-profit organization helping develop the NEAR blockchain, has struck a major partnership with Alibaba Cloud, the computing and storage arm of Chinese tech giant Alibaba.

The price of the NEAR protocol jumped by double digits following the news, jumping from $1.35 to $1.61 early Monday. NEAR/USD’s three-week high comes as the crypto market as a whole tries to build on last week’s rally momentum, which got a foot on the bitcoin ETF spotlight.

NEAR Foundation Partner Alibaba Cloud

NEAR Foundation partners with Alibaba Cloud to drive Web3 adoption in Asia and the Middle East.

according to announcement A partnership with a Switzerland-based non-profit organization grants NEAR access to the developer ecosystem of cloud computing providers.

More developers in Asia and the Middle East will take advantage of the network when building on the NEAR protocol. Specifically, this partnership will allow the NEAR protocol developer to bring his Alibaba Cloud “plug and play” infrastructure.

Users also benefit from Remote Procedure Call (RPC) as a Service, which enables multi-chain access to blockchain data and transactions.

The partnership with Alibaba Cloud comes days after the NEAR Foundation. partnership We have partnered with Vortex Gaming, the Web3 subsidiary of Korean-based gaming company INVEN. The partnership aims to power his Web3 games on the Vortex Gaming and NEAR gaming ecosystems through offline hackathons and more.

Vortex Gaming utilizes both NEAR’s Layer 1 protocol and Blockchain Operating System (BOS), an open source OS for the open web. The NEAR Foundation announced BOS in March, bringing a multi-chain compatibility layer to the ecosystem for browsing and discovering the open web.

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