Alibaba Cloud Builds Metaverse Launchpad on Avalanche

The cloud division of Chinese tech behemoth Alibaba (BABA) has built a launchpad for businesses to deploy metaverses on the Avalanche blockchain.

Named Cloudverse, the launchpad is designed to provide an end-to-end platform for companies to customize and maintain their metaverse spaces to try and find new ways of engaging with their customers.

Avalanche will provide the technology for building the metaverse spaces, while Alibaba Cloud will provide the computing and storage, according to an emailed announcement on Thursday.

The partnership is Alibaba's second such tie-up with a blockchain network in less than a month, following its agreement with Mysten Labs, developer of the Sui Layer 1 blockchain, to provide node services for validators on the network's testnet.

Avalanche's native token AVAX was little affected by the initial announcement of the news, rising less than 1% from $16.86 to $16.98 as of 15:20 UTC (11:20 a.m. ET).