Tencent Cloud Enters Web3

• Tencent Cloud, a global cloud service provider of China’s leading internet company Tencent Holdings, announced its interest in Web3 on Feb. 22.
• The firm has also reinforced its Web3 speculations through foundations of future partnerships with leading Web3 brands during the global Web3 summit.
• Tencent will target the strategic and most crucial pillars of Web3 including storage, security, identity, data, and analytics.

Tencent Cloud Partnerships

Tencent Cloud has formed several partnerships with leading web 3 companies to develop blockchain API services and other virtual experiences for customers. This includes an MoU signed with Ankr, a leading web 3 platform, as well as alliances with Avalanche, Skroll and Sui. An agreement with Avalanche will see the blockchain’s nodes deployed on Tencent Cloud which allows developers to set up nodes quickly.

New Products Launched

To improve the experience of virtual users and online developers, Tencent Cloud is releasing new products such as the Tencent Cloud Metaverse-in-a-Box offering that features a full suite of blockchain API services.

Increased Demand for Virtual Experiences

The decision to enter web 3 is due to increased demand for virtual experiences by brands, organizations, companies and governments around the globe. Poshu Yeung from Tencent Cloud acknowledged this potential at the first Global Web3 Summit saying there was significant potential where physical and digital worlds meet.

Conclusion

Overall, Tencent Cloud’s entry into web 3 is a move that could have far reaching implications for both businesses and consumers who are looking for more immersive virtual experiences powered by blockchain technology. With numerous collaborations already in place with some of the industry’s top players it looks like this could be an exciting journey ahead for all involved!