Aptos Foundation Teams with Alibaba Cloud to Launch Alcove in Japan

UTC by Anisha Pandey · 3 min read
Aptos Foundation Teams with Alibaba Cloud to Launch Alcove in Japan
Photo: Depositphotos

This collaboration between Aptos Foundation and Alibaba Cloud marks a significant step in advancing Japan’s role in the global Web3 landscape.

The Aptos Foundation, the driving force behind the Layer 1 blockchain platform Aptos Protocol, recently partnered with Alibaba Cloud to grow the Web3 ecosystem in Japan. The duo is launching Alcove, Asia’s first co-branded Move developer community.

As per the official announcement, the deal aims to enhance accessibility and foster innovation across the Asia-Pacific region. Alcove’s mission is to increase the reach and impact of the Move smart contract programming language among Web3 developers. As a result, this will offer better security, speed, and scalability, driving mass adoption.

To kickstart this initiative, the Aptos Foundation is launching a series of Alcove projects, beginning with a Move developer meetup. OKCoin Japan and Alibaba Cloud are co-hosting the debut event “Aptos Mover: Innovation Ripples from Kyoto” at the IVS Crypto 2024 event. As per a recent update on X, it promises to bring together high-profile partners and projects, empowering developers with the knowledge to bring real-world Web3 use cases to life.

Additionally, the Aptos Foundation will use Alibaba Cloud’s advanced technology to organize a series of hackathons for the Alcove community. These events would provide participants with opportunities to learn from industry leaders and inspire the next generation of Web3 developers and innovators.

“Partnering with the Alibaba Cloud team and harnessing their technology, we aim to create a vibrant environment that allows Japan’s growing interest in Web3 and IP strengths to flourish,” said Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation. He adds:

“As the foundation is working to expand Aptos’ ecosystem worldwide, we’re committed to creating the best user experiences for the next generation of developers, in Japan, APAC, and beyond.”

Meanwhile, the native token of the Aptos blockchain, APT, is currently trading around $7, reflecting a 4% increase over the past 24 hours. With a market cap of $1.18 billion, APT now ranks as the 17th largest cryptocurrency by market capitalization.

Japan’s Web3 Industry

Given its advanced legal system and tech-savvy population, Japan is well-positioned to champion the advantages of Web3 and digital assets. Last year, Japan’s parliament approved a Web3 whitepaper, encouraging corporate investment in the sector. It highlighted the need for a more Web3-friendly environment for businesses.

Interestingly, major gaming companies like Sony and Bandai Namco have started investing in Web3 through incubation programs. Anime intellectual property owners are also releasing NFTs as part of their Web3 initiatives.

This collaboration between Aptos Foundation and Alibaba Cloud marks a significant step in advancing Japan’s role in the global Web3 landscape.

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