• The Aptos Foundation has partnered with Alibaba Cloud to enhance Japan’s Web3 ecosystem and boost regional accessibility in the Asia-Pacific (APAC) region by launching Alcove.
• As part of the Alcove initiatives, Aptos Foundation, alongside OKCoin Japan and Alibaba Cloud, will host a series of events including a Move developer meetup and hackathons to empower developers.

The Aptos Foundation has announced a strategic partnership with Alibaba Cloud, the digital technology and intelligence backbone of the Alibaba Group, to enhance Japan’s Web3 ecosystem and improve regional accessibility in the Asia-Pacific (APAC) region.

Together the two players have launched Alcove, Asia’s first co-branded Move developer community, aimed at fostering innovation and accessibility across the region. This marks a significant milestone in the advancement of Asia’s Web3 landscape. Interestingly, in a similar move, Aptos has also joined hands with BenMo in order to explore Defi opportunities in the Asia Pacific, reported Crypto News Flash.

Alcove’s mission is to amplify the impact and proliferation of the Move smart contract programming language among skilled developers. Move on Aptos offers security, speed, and scalability, making it suitable for mass adoption in the APAC region.

Through Alcove, the Aptos Foundation and Alibaba Cloud are creating an environment where developers can thrive, innovate, and lead the next wave of digital transformation. Speaking on the development, Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, said:

Partnering with the Alibaba Cloud team and with the help of their technology, we aim to create a vibrant environment that allows Japan’s growing interest in Web3 and IP strengths to flourish. As the foundation 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.

Aptos and Alibaba Undertaking Web3 Development Initiatives in Japan

Japan is uniquely positioned to champion the benefits of Web3 and digital assets on the global stage, thanks to its advanced regulatory framework and tech-savvy populace.

To accelerate on-chain development, the Aptos Foundation spearheads a series of Alcove initiatives. The first event, a Move developer meetup co-hosted by OKCoin Japan and Alibaba Cloud, aims to empower builders by providing them with the tools and knowledge to develop real-world use cases and demonstrate the tangible benefits of Web3 and digital assets in Japan.

Leveraging Alibaba Cloud technology, the Aptos Foundation will also host a series of hackathons for the Alcove community. These events are designed to cultivate emerging Web3 talent, allowing participants to learn from industry leaders and inspire the next generation of Web3 developers and innovators.

The recent development has also boosted the Aptos price, which has gained 3% as of press time and is shooting past $7.0.

Earlier this month, BitMEX CEO Arthur Hayes recently shared his insights on the future of the crypto market, predicting that Aptos will surpass Solana to become the second-leading Layer-1 blockchain within the next one to three years.

Hayes emphasized Aptos’ potential to achieve mainstream adoption of Web3 and support an ecosystem of decentralized applications (dApps) that address real-world problems. Hayes plans to provide further details on his prediction by September 2024, reported Crypto News Flash.

Furthermore, as per the CNF update, Aptos is also dipping its toes into the AI market. Using the power of blockchain, Aptos is building transparent AI asset records in partnership with IONET.