Google Cloud has teamed up with blockchain infrastructure firm MultiversX (formerly Elrond) to boost its Web 3 presence. Google Cloud has integrated MultiversX into the platform which will in turn help Web3 projects and users derive valuable insights from powerful data analytics and artificial intelligence tools within the Google Cloud ecosystem.
MultiversX claims that the partnership between the two firms has the potential to immediately streamline the execution of large-scale, data-first blockchain projects. This should help developers easily access data about addresses, transacted amounts, smart contract interactions, and increased on-chain analytics, the company said.
On the other hand, the Google Cloud involvement in the MultiversX network will enable ecosystem builders to utilize advanced tools and services available on the platform to bring high performance and scalability to their decentralized application dApps’ non-blockchain components. Daniel Rood, Head of Web3 EMEA at Google Cloud, added:
“There are exciting opportunities to enable Web3 developers to build and scale faster and as we explore new verticals within the space, our partnership with MultiversX will allow us to expand our strategy and reach further and solidify our position as one of the main innovation drivers in the blockchain world.”
MultiversX has forged multiple partnerships with mainstream brands in the past as well to push the Web3 use cases in the traditional world. The first European institutional marketplace for digital assets, ICI D|SERVICES, as well as Audi’s platform for in-car virtual reality, holoride, have both chosen MultiversX as their platform of choice.
The blockchain infrastructure firm focused on metaverse scalability also announced a set of new scalable features for its decentralized digital asset wallet xPortal SuperApp. The updated features will allow users to handle money easily in both fiat and cryptocurrency. Users of the xPortal will have access to peer-to-peer fiat payments as well as European IBANs, SEPA, and SWIFT by the beginning of 2024.
The platform also announced the launch of the xWorlds Developer Kit, which offers an array of unique tools that creators can use to build the next generation of augmented reality experiences through leveraging xPortal as a wallet and distribution hub. The kit includes highly realistic AI-powered 3D avatars as well.