Chinese Tech Giant Alibaba announces a Web3 incubator to boost blockchain development in Japan. With the evolution of technology trends, Web3 is projected to revolutionize both traditional and digital business methods.
Alibaba Cloud is the hub of Alibaba Group's digital technology and intelligence. It is all set to open a blockchain lab in Shibuya, Japan, in April of this year. The initiative is particularly taken to help Japanese game developers. To discover further economic opportunities in the Web3 era. Alibaba is exploring Web3 technologies for quite a while now.
Based on information from Alibaba, this building will serve as an incubator center. Here, game developers can work together and learn about the latest blockchain technology. So they can stay competitive in the Web3 age.
The Blockchain Lab by Alibaba Cloud
The new lab was opened by Tokyu Real Estate Co., Ltd. and Skeleton Crew Studio. The lab makes games and VR content. BitSummit is the biggest event for independent games in Japan. It happens every year in Kyoto. At first, only a small number of Alibaba Cloud clients and hackathon competitors working on projects together will be able to use it.
Also, engineers from partner companies, who know a lot about blockchain and Alibaba Cloud will be on hand to help with technical issues on the spot.
Hash Key, a digital asset finance company based in Hong Kong, is going to be a part of the Hackathon. The first phase will start in Tokyo on April 2.
Unique Song, the Country Manager of Alibaba Cloud, said, "The strengths of content development and digital technology across industries, especially in the gaming industry, are creating more opportunities in Japan's active Web3 community."
We give Web3 developers in Japan strong, secure, and high-performance cloud infrastructure, technology platforms, and intelligence tools. Our customers and developers work in fields like games, the metaverse, and social media. So they are all different.
Developers can talk about and learn about the most recent changes to Web3 technology at regular conferences, workshops, and group meetings. Also, developers will be able to use the Web3 partner network of Alibaba Cloud without going through a middleman.
For example, Safeheron gives large investors a safe place to store their digital assets, and Web3's plans for making video games with blockchain architecture include a lot more efficiency, adaptability, and overall performance. This project includes both the well-known video distributor NodeReal. And the company COCOS-BCX, which provides scaling solutions for the Web3 gaming environment.
The test environments for each of these project ecosystems are also open to developers.
Japan Plans to Boost Web3 and Alibaba Cloud Support
But Japan has been behind the rest of Asia when it comes to Web3 development. In November of last year, Nomura, a financial company, said it would start letting its institutional clients trade cryptocurrencies.
The group is putting together a team to help other businesses get into the metaverse. It is thinking about how to use its experience in investment banking to help businesses raise money and follow the law.
The government is also excited about how Web3 and the metaverse can be used to boost the economy. In a speech in October, Prime Minister Fumio Kishida also talked about the benefits of making it easier for people to use new technologies.
Also, Alibaba Cloud says that it will offer a blockchain node solution in Japan before the end of the year.
Now, the service makes it easier for developers to use Alibaba Cloud's infrastructure. Which is strong, effective, and safe. It is being looked at by users who have been given permission to do so.
Japan Web3 Projects and Current Standing
Even though Gatcha-Gacha is crazy, there are many other crypto-creative subcultures in Japan that are important. Such as anime, games, VTubers, and many others. Most of these Web3 projects that were inspired by otaku have stayed in their native language. Or because they are not yet good enough for people who don't speak Japanese.
Some have made it outside of Japan, which has helped to keep and spread a culture that Japan can be thankful for. Shinsei Galverse is the most successful of these inspiring stories. It is the first Japanese Web3 project to be known around the world.
Japan is way ahead of the rest of the world when it comes to Web3 and nonfungible tokens (NFTs). A small number of high schools teach students about NFTs and Web3. Also, other independent, decentralized organizations teach people the basics of Web3. There are even laws that take non-financial transactions into account.
KAMITSUBAKI STUDIO, a lively Vsinger studio, has started using blockchain technology to raise money. Edo Lena, who is based in Metaverse and is a virtual singer, says, "This is the first step of the VTuber and Web3 communities coming together."
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