Tencent eyes support for Web3 growth with Ankr, Avalanche partnerships

• Tencent Cloud has signed an MoU with Web3 blockchain infrastructure platform Ankr.
• The company also revealed partnerships with Avalanche, Ethereum scaling solution Scroll and Mysten Labs’ Sui blockchain.
• Tencent Cloud is looking to help promote Web3 adoption.

Tencent Cloud, the cloud business division of tech giant Tencent, has signaled its commitment to Web3 development with a major announcement.

On 22 February, the company revealed it was looking to be a significant contributor to the evolution of Web3. Tencent made the developments public at the Tencent Cloud Web3 Build Day, an industry-focused event held in Singapore on Wednesday.

Tencent Cloud “preparing for the Web3 future”

As part of this goal, Tencent Cloud has signed a Memorandum of Understanding (MoU) and sealed strategic partnerships with multiple blockchain platforms. Tencent’s roadmap towards the objective includes development of blockchain API services and foundational infrastructure for growing the Web3 global community.

Poshu Yeung, Senior VP at Tencent Cloud International, commented on these collaborations, noting that the company is bullish on the future of Web3.

“With more businesses now keen to explore and adapt to an efficient, transparent digital future, we are ready to leverage our many years of technical experience in the fields of games, audio, and video to provide strong technical support for Web3, and work with industry partners to create a more immersive experience and nurture a better Web3 ecosystem,” Yeung added.

Tencent partners Ankr, Avalanche and other blockchain platforms

As highlighted in our price prediction for Ankr (ANKR), Tencent Cloud has signed an MoU with the Web3 infrastructure provider in a collaboration that looks to help develop a suite of blockchain application programming interface (API) services.

Tencent also announced strategic partnerships with Ava Labs’ smart contracts blockchain platform Avalanche, zkEVM zk-Rollup platform Scroll and Mysten Labs’ Layer-1 blockchain Sui. The collaborations will help accelerate Web3 adoption, the firm said.

Apart from the three partnerships, the company has unveiled its Metaverse-in-a-Box product, a one-stop solution that offers high-performance, out-of-box software development kits (SDKs). The low-code solution offering provides for wide application across gaming, media and entertainment.