May 25, 2024
Google Cloud Explores Web3 with MultiversX Partnership for Enhanced Scalability
Latest Cryptocurrency News

Google Cloud and MultiversX Join Forces to Boost Web3 Presence

Google Cloud has formed a strategic partnership with MultiversX, a blockchain infrastructure company previously known as Elrond, with the aim of bolstering its presence in the Web3 space. The integration of Google Cloud’s BigQuery data warehouse with MultiversX is set to empower Web3 projects and users by providing them with the capability to extract valuable insights from robust data analytics and artificial intelligence resources within the Google Cloud ecosystem.

MultiversX asserts that this collaboration between the two entities holds the potential to streamline the execution of substantial data-centric blockchain projects promptly. This is expected to facilitate easy access for developers to data related to addresses, transaction volumes, smart contract interactions, and enhanced on-chain analytics, according to the company’s statements.

Simultaneously, Google Cloud’s participation in the MultiversX network will enable ecosystem builders to harness advanced tools and services available on the platform, enhancing the performance and scalability of non-blockchain components for decentralized applications. Daniel Rood, the Head of Web3 EMEA at Google Cloud, expressed enthusiasm, saying that exciting opportunities lie ahead for enabling Web3 developers to accelerate their development and scaling efforts. As it explores new areas within this realm, this partnership with MultiversX will enable it to extend its strategic reach and solidify its position as a key driving force in the blockchain industry.

MultiversX has previously established multiple partnerships with well-known brands to promote the adoption of Web3 use cases in the conventional world. Prominent among these are the European institutional digital asset marketplace ICI D Services and Audi’s platform for in-car virtual reality, Holoride, both of which have selected MultiversX as their preferred platform.

The blockchain infrastructure company, which places a strong emphasis on metaverse scalability, has also unveiled a range of new scalable features for its decentralized digital asset wallet, the xPortal SuperApp. These enhanced features will empower users to seamlessly manage funds in both fiat and cryptocurrency. By early 2024, users of xPortal will have access to peer-to-peer fiat payments as well as European IBANs, SEPA, and SWIFT.

In addition to these developments, MultiversX has introduced the xWorlds Developer Kit, offering an array of unique tools that content creators can leverage to craft the next generation of augmented reality experiences by utilizing xPortal as a wallet and distribution hub. This comprehensive kit includes highly realistic AI-driven 3D avatars, expanding the creative possibilities in the Web3 space.

Image by freepik

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