Aptos Foundation announced a partnership with Alibaba Cloud. As part of the partnership, the two companies will launch the first co-branded Move developer community in Asia. The altcoin project thus aims to accelerate Web3 capabilities and accessibility in the APAC region. The partnership news also served as a catalyst for APT price.
Alibaba partnership pushed altcoin price north!
cryptokoin.com As we reported, Aptos Foundation signed a huge collaboration with Alibaba Cloud. The partnership aims to accelerate Web3 capabilities and accessibility in the Asia Pacific region. The Layer-1 Blockchain provider will be the main Blockchain sponsor in Alibaba Cloud’s Singapore Innovation Accelerator programme. According to the announcement, the two companies will collaborate to launch the first co-branded Move developer community in Asia. In this context, the altcoin project Aptos entered the statement series as follows:
Asia, get ready to make your Move! Aptos Foundation and Alibaba Cloud are teaming up to support Web3 capabilities and accessibility in the APAC region with plans to launch Asia’s first Move developer community.
1/ Asia, prepare to make your Move! Aptos Foundation and @Alibaba_Cloud are teaming up to bolster Web3 talent and accessibility in the APAC region with plans to establish Asia's first Move developer community. pic.twitter.com/Sxl6bGSw4Y
— Aptos (@Aptos_Network) November 20, 2023
This news served as a catalyst for the altcoin price. Following the news of the collaboration, APT experienced an increase from its current level of $7 during the day to $7.49. However, the token later gave back some of its gains. Despite this, APT was trading at $7.36 at the time of writing, up over 5% on a daily basis.
APT daily price chart. Source: CoinMarketCapWhat will cooperation bring?
According to experts, this partnership will open the door to new opportunities for the altcoin. Its developers designed Move with the goal of improving performance and strengthening Web3 protections. The language has gained significant traction in Asia, with many developers holding hackathons, workshops, and other events in Asia. Aptos Foundation and Alibaba Cloud will also work together in a series of hackathons and regional events to strengthen the Asia-Pacific Web3 community.
Aptos Foundation wants to leverage Alibaba Cloud’s highly scalable, efficient and secure cloud infrastructure to support the growth of the Aptos ecosystem. The company will also fund prominent Aptos-based altcoin projects. It will also offer guidance and expert advice on technology integration. Bashar Lazaar, Aptos Foundation Head of Ecosystem and Grants, said the following about the announcement:
As the Aptos Foundation focuses on accelerating mass adoption in the APAC region, we look forward to partnering with Alibaba Cloud as our next step. We can’t wait to see and support the game-changing ideas of tomorrow’s leading developers.
