Decentralized physical infrastructure network (DePIN) AIOZ Network and Alibaba Cloud, the digital technology arm of Alibaba Group, have announced a strategic collaboration to accelerate Web3 adoption across Asia-Pacific. This partnership aims to nurture the next generation of developers and strengthen Web3 infrastructure in the region.
AIOZ Network specializing in Web3 AI, storage and streaming has been selected as the leading blockchain partner for Alibaba Cloud’s Singapore Innovation Accelerator program. This initiative focuses on supporting innovative Web3 projects by providing access to infrastructure services, including AI, storage and streaming capabilities. AIOZ Network will offer its expertise and resources to cultivate promising ventures built on its platform.
The collaboration extends beyond the Innovation Accelerator. The two companies plan to establish a DePIN Alliance in Southeast Asia to enhance services related to AI, storage, and streaming bolstering the DePIN ecosystem in the region. AIOZ Network’s native token (AIOZ) has exhibited stability following the announcement currently trading at around 90 cents according to CoinMarketCap. However, it has seen a significant rise of over 200% in the past month.
Erman Tjiputra, founder of AIOZ Network commented stating,
This collaboration with Alibaba Cloud represents a significant step forward. We are excited to foster and support groundbreaking innovations from the next generation of developers.
This partnership signifies Alibaba Cloud’s continued foray into the cryptocurrency industry. Last year they ventured into the metaverse with a launchpad built on Avalanche followed by a collaboration with NEAR Protocol to promote Web3 adoption in Asia.
Beyond the Innovation Accelerator and DePIN Alliance, AIOZ Network and Alibaba Cloud plan to organize hackathons and developer events throughout the APAC region fostering a vibrant Web3 community and igniting a new era of innovation. These events will provide opportunities for developers to exchange knowledge, collaborate and draw inspiration.
Altcoin Daily’s recent video emphasized the rapid expansion of DePIN Crypto highlighting its significance in the cryptocurrency world. Decentralized Physical Infrastructure gained momentum similar to the enthusiasm witnessed around NFTs in 2021 and AI in 2023. As a result, DePIN technology enabled decentralized connectivity among physical devices through cryptocurrency rewards and tokens, making it possible to scale up rapidly and cost-effectively in various industries such as compute, wireless energy, AI services and sensors.
