Google Creates Web3 Team to Take Advantage of Growing Crypto Popularity
To set the ball rolling in Web3, Google is assembling a team to create services for developers in this ecosystem through its cloud unit, according to CNBC.
Through an email, Amit Zavery, the vice president at Google Cloud, noted that the objective was to make the Google Cloud Platform the most preferred by developers in Web3. He wrote:
“While the world is still early in its embrace of Web3, it is a market that is already demonstrating tremendous potential with many customers asking us to increase our support for Web3 and Crypto related technologies.”
Therefore, Google seeks to tap the potential presented by the crypto space, given that Web3 Pioneers have developed peer-to-peer and decentralized systems intended to transform the internet.
As a new iteration of the World Wide Web-based on blockchain technology, Web3 aims to incorporate token-based economics and decentralization concepts.
With Google battling for market share in cloud infrastructure against Amazon, Alibaba, and Microsoft, the tech giant intends to provide back-end services to developers eyeing their own Web3 software.
Zavery pointed out:
“We’re not trying to be part of that cryptocurrency wave directly. We’re providing technologies for companies to use and take advantage of the distributed nature of Web3 in their current businesses and enterprises.”
Therefore, the in-house team shows Google’s commitment to the crypto market.
Steve Cooper, Warner Music Group CEO, opined that Web3 would revamp the music industry. He added:
“From collectibles to music royalties, Web3 represents an exciting future for the music industry that will help our artists reach millions upon millions of new fans in interesting and innovative ways.”
Crypto exchange KuCoin recently rolled out a $100 million “Creators Fund” to propel the Web3 ecosystem and support early-stage non-fungible token (NFT) projects, Blockchain.News reported. Concerted efforts like these are crucial toward the development of the Web3.0 space which at present is still in its nascent stages.
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