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Google Cloud has entered into a partnership with blockchain infrastructure firm MultiversX (formerly Elrond) to bolster its presence in the Web3 ecosystem. This collaboration leverages Google Cloud's BigQuery data warehouse, which is integrated with MultiversX, enabling Web3 projects and users to harness powerful data analytics and artificial intelligence tools within the Google Cloud ecosystem.
MultiversX believes that this partnership has the potential to streamline the execution of large-scale, data-centric blockchain projects, providing developers with easy access to critical data related to addresses, transacted amounts, smart contract interactions, and enhanced on-chain analytics.
The involvement of Google Cloud in the MultiversX network facilitates the utilization of advanced tools and services to enhance the performance and scalability of decentralized application non-blockchain components. According to Daniel Rood, Head of Web3 EMEA at Google Cloud, this collaboration opens up exciting opportunities for Web3 developers to build and scale more efficiently.
MultiversX's Track Record and New Features
MultiversX has a history of forging partnerships with mainstream brands to promote Web3 use cases in the traditional world. Among its notable collaborations are the first European institutional marketplace for digital assets, ICI D|Services, and Audi's platform for in-car virtual reality, Holoride, both of which have selected MultiversX as their platform of choice.The blockchain infrastructure firm has also unveiled a set of new scalable features for its decentralized digital asset wallet and "SuperApp," xPortal. These features will enable users to seamlessly manage both fiat and cryptocurrency. By the beginning of 2024, xPortal users will have access to peer-to-peer fiat payments and European IBANs, SEPA transfers, and SWIFT payments.
Additionally, MultiversX has introduced the xWorlds Developer Kit, which provides a range of unique tools for creators to build the next generation of augmented reality experiences by leveraging xPortal as a wallet and distribution hub. The kit also includes highly realistic artificial intelligence-powered 3D avatars.
In summary, the collaboration between Google Cloud and MultiversX represents a significant step in expanding Web3 capabilities and fostering innovation in the blockchain and metaverse space. This partnership is poised to enhance the development and scalability of Web3 projects while offering new features to users within the ecosystem.
