- Tencent recently announced its move to web3 and the metaverse space.
- In light of Tencent’s web3 move, Huawei has launched a metaverse alliance in partnership with Polygon and more.
Huawei Cloud has launched a Metaverse and Web3 Alliance following its competitor, Tencent’s move to web3. In a race for market share, the cloud arm of the Chinese tech giant has partnered with several blockchain players to catalyze the adoption of web3 technology in the Asia-Pacific region.
The first batch of the Metaverse and Web3 Alliance partners feature BlockChain Solutions, Deepbrain Chain, Morpheus Labs, and Polygon, with many more to come. The cloud infrastructure aims to lay the cornerstone for web3 technology in the region and facilitate its adoption with the partners.
Driving Adoption
Huawei cloud recently announced the Metaverse and Web3 alliance in an invite-only Huawei Cloud Asia-Pacific Partner Leadership Summit held in Bali, Indonesia, on 23rd February. The Shenzhen-based firm showcased its commitment to web3 technology during the event by presenting its ongoing initiatives.
The event saw participation from several major companies and customers from the Asia-Pacific region, including China Telecom and more.
The tech giant shared that the Metaverse and Web3 alliance will significantly influence Huawei’s strategy. The Chinese firm looks to cooperate with the alliance to lay a solid foundation for web3 infrastructure in the region and drive adoption with its solutions.
Huawei’s announcement of the Metaverse and Web3 alliance followed the news of its competitor, Tencent, moving to web3. The two companies are some of the top players in China’s cloud market, with Huawei holding a 19% market share in contrast to Tencent’s 16% market share.
Huawei vs Tencent
Tencent recently announced its venture into web3, partnering with Ankr, Avalanche, and more to drive web3 adoption in the region. The burgeoning cloud infrastructure shared major agreements that overlooked the release of products such as metaverse-in-a-box and more.
A day following Tencent’s mega announcement, Huawei too jumped on the web3 bandwagon in a race for market share. The leading tech company serves over 730 million monthly users, deploying cloud solutions to businesses in over 170 countries.
In a race for regional dominance, Huawei has its eye set on overtaking Tencent. However, unlike Tencent, it has yet to share more details about its agreements and upcoming initiatives.
On the Flipside
- The Biden administration has prohibited US suppliers from exporting items to Huawei. The US also plans to ban the Chinese tech giant from all American suppliers.
- Microsoft and Google have also made moves for web3 developments in partnership with web3 companies.
Why You Should Care
Competiton is always healthy for the web3 space. The rising number of tech giants moving to web3 is a positive sign for the industry as they focus on laying the foundation for the space.
Read about Tencent’s entry to web3:
Source link: https://dailycoin.com/huawei-takes-on-tencent-with-polygon-web3-and-metaverse-alliance/
