Key takeaways:
- NEAR Foundation and Google Cloud have forged a new partnership
- As a part of the deal, Google Cloud will provide infrastructure to support decentralized application development on NEAR blockchain
- The price of NEAR, the project’s native token, saw a modest uptick following the announcement
Google Cloud to provide infrastructure for Pagoda, NEAR’s Web3 startup platform
NEAR Foundation has announced that it struck a partnership with Google Cloud, one of the leading global cloud service providers. According to a Tuesday press release, Google Cloud will be providing technical support for decentralized application (dApp) developers, thus promoting blockchain innovations.
The NEAR team stated that the collaboration with Google Cloud will help developers “create without limits” and “help onboard the masses into Web3.”
NEAR Foundation CEO Marieke Flament had the following to say about the partnership with the search giant’s cloud division:
“This partnership marks a new chapter for us as we continue to offer the best support possible for the next generation of visionaries choosing to build on the NEAR protocol.”
From a technological standpoint, Google Cloud will be providing the infrastructure necessary to scale Pagoda, NEAR’s Web3 startup platform. This will enable devs to more easily tap into NEAR’s library of auto-generated templates and user interfaces – essentially speeding up the development process.
Director of Digital Assets at Google Cloud, Carlos Arena, explained:
“We will be supporting NEAR and giving Web3 developers the most secure, reliable, and sustainable cloud infrastructure on which they can build and scale.”
Carlos added that the Google Cloud team is on a mission to support blockchain-based products and services.
NEAR blockchain is top 15th in terms of TVL
According to data curated by DeFi Llama, NEAR Protocol is the 15th largest blockchain in terms of total value locked (TVL), with $272 million worth of digital assets living on the chain. The current TVL figure places NEAR Protocol just ahead of Algorand at the 16th spot, and behind Kava at the 14th.
NEAR, the native token of the NEAR blockchain, saw positive price activity following the Google Cloud announcement. NEAR price increased from $3.56 on Oct 4 to a multi-week high of $3.75 on Oct 6. However, the price of NEAR retraced to $3.65 by press time, currently showing a modest +2.5% price change in the last 48 hours.
