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The NEAR Foundation, a non-profit organization based in Switzerland that supports the decentralized platform NEAR Protocol, has reportedly formed a partnership with the Chinese technology giant Alibaba Cloud to foster the development of Web3 in Asia and the Middle East.
The value of NEAR, the ecosystem’s native token, experienced a positive response, surging by more than 12% shortly following the announcement.
- This collaboration is expected to grant the NEAR Foundation access to Alibaba Cloud’s developer network in the specified regions. One of the aims of this partnership is to draw more users to develop on the NEAR Protocol.
- Developers will also have the capability to launch new validators utilizing Alibaba Cloud’s “plug-and-play” infrastructure.
- Furthermore, both organizations committed to offering remote procedure calls (RPC) as a service to members of the NEAR ecosystem.
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“The partnership between the NEAR Foundation and Alibaba Cloud is significant as we continue to assist Web3 developers in exploring opportunities,” Raymond Xiao, head of international Web3 solutions at Alibaba Cloud Intelligence, reportedly remarked.
- NEAR’s USD price increased immediately after the announcement, currently standing at approximately $1.56, reflecting a 12% rise in less than an hour.
- Similar to Bitcoin and various alternative cryptocurrencies, NEAR has experienced notable gains recently, rising by about 26% over the past week.
NEAR Price, Source: CoinGecko
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