Chinese tech company Tencent Cloud has announced new initiatives in the web3 space, marking its entry into the emerging market.

This includes blockchain-based APIs and “metaverse-in-a-box” offerings. Tencent Cloud will also collaborate with infrastructure provider Ankr, blockchain platform Avalanche, open-source EVM-compatible zk-Rollup builder Scroll and blockchain optimised for gaming Sui.

The move positions Tencent alongside other major global tech companies including Amazon and Google that have recently made strides in the web3 space.

The announcement follows the Tencent Cloud Web3 Build Day summit held in Singapore.