Chainlink Labs, the developer of Chainlink (LINK), and Tencent Cloud, a leading cloud services provider, have announced a strategic partnership, with the intention to foster the growth and development of Web3 startups.
Discussing the details of the collaboration, the official Chainlink Twitter account wrote:
.@ChainlinkLabs has teamed up with @tencentcloud, the cloud business of global tech company Tencent, to support the development of Web3 startups.https://t.co/16SvnVC6Mw
As part of this partnership, Tencent Cloud will provide various benefits to #ChainlinkBUILD projects,… pic.twitter.com/ywsYUm8oXq
— Chainlink (@chainlink) May 31, 2023
Chainlink, widely recognized for its contributions to connecting today’s data, businesses, and people with Web3 applications, is expected to bring its Oracle capabilities to this partnership. Specifically, the two parties would work together to provide developers with a trustworthy environment in which they could develop apps by utilizing solutions that make use of Chainlink’s Web3 services and access to off-chain data and processing.
As a part of the partnership, Tencent Cloud is set to extend several benefits to ChainlinkBUILD projects. These include Tencent Cloud service vouchers worth up to $100,000, prioritized product and service listing in the Tencent Cloud International Marketplace, and early invitations to various Tencent Cloud Web3 networking opportunities, webinars, and events.
Poshu Yeung, senior vice president of Tencent Cloud International, commented on the new partnership:
We recognize that secure and scalable infrastructure is critical to the development of the global Web3 ecosystem, which is why we’re glad to collaborate with Chainlink Labs, a developer of Chainlink, the industry-standard oracle network. By supporting developers with decentralized services and tooling, they’re able to build more robust and advanced applications that accelerate the adoption of Web3.
Meanwhile, Chainlink has also been actively exploring other potential applications of blockchain technology. The company recently outlined plans to revolutionize the real estate industry, a sector valued at $29 trillion in 2021, through tokenization. This involves representing real estate properties or cash flows as blockchain tokens, a move aimed at streamlining the market and increasing liquidity.
