Last Thursday, Huawei Cloud, the cloud computing arm of Chinese smartphone manufacturer Huawei Technologies Co., Ltd., announced that it has partnered with Polygon and several other blockchain firms to create a Web3 and metaverse alliance. The announcement was made during the Asia-Pacific partner summit held in Bali, Indonesia.
According to Huawei Cloud, its goal is to integrate blockchain technology into its cloud services through its partnership with Polygon, Deepbrain Chain, Morpheus Labs, and Blockchain Solutions. The company also unveiled its cloud-based Web3 solutions during the summit.
Huawei Cloud has been exploring the potential of 5G in metaverse developments since launching its blockchain services in 2018. It also launched its non-fungible tokens (NFT) collection and trading platform in April 2022.
The partnership with Polygon and other blockchain firms is part of Huawei Cloud’s efforts to expand its Web3 ventures overseas. Chinese tech giants such as Alibaba Cloud and Tencent Holdings have also been exploring Web3 and metaverse developments. In December 2022, Alibaba Cloud launched a blockchain node service in Singapore, while Tencent Holdings introduced a cloud-based toolkit for metaverse developers last week.
The Chinese government has been emphasizing the importance of emerging technologies such as blockchain, artificial intelligence, 5G, and cloud computing in developing the digital economy and international competition. Chinese President Xi Jinping highlighted these technologies in a speech he made in January.