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Google Cloud Amplifies Web3 Focus: New Products and Strategic Partnerships on the Horizon

Google Cloud is intensifying its focus on Web3 with plans to launch new products and foster collaborations, positioning itself as a significant player in the Web3 ecosystem.

Google Cloud’s Web3 Expansion: New Products & Partnerships

Google Cloud is escalating its commitment to Web3, with plans to introduce more products centred around the emerging technology and foster startups in the Web3 arena. This initiative aims to solidify Google Cloud's position as the go-to computing service provider for the industry.

The company's recent launch of a startup program directed at the Web3 sector underpins this effort. Google Cloud's ambition is to offer services analogous to its Blockchain Node Engine, aiding customers to become pivotal contributors to the Web3 ecosystem, according to James Tromans, Google Cloud Web3 head.

While Tromans did not reveal specific projects underway, he highlighted Google Cloud's plan to continue providing on-chain datasets, like Ethereum on BigQuery, Google’s serverless data warehouse. This strategy aims to help startups focus on their unique value propositions, avoiding redundant efforts in developing foundational capabilities.

Google Cloud is also collaborating with entities in the financial services and gaming sectors to investigate the potential of Web3 technologies in enhancing operations and creating new business models and revenue streams. Alongside this, the company is exploring AI applications in the Web3 space, a domain of interest for several crypto companies.

Google's blockchain-focused division, established in January 2022, reflects its increasing interest in crypto and Web3. This focus was further underscored in October with the launch of the Blockchain Node Engine to aid Web3 developers in product development on blockchain platforms.

In April, Google Cloud kicked off a Web3 startup program to support the development of robust Web3 applications. Benefits extended to startups include $200,000 in Google Cloud credits, free access to Google’s serverless platform, and technical support. Several organizations, including Aptos, Celo, Flow, HBAR Foundation, Near, and the Solana Foundation, are set to offer grants to stimulate Web3 startup growth through the program.

Google Cloud's strategic pivot towards Web3, coupled with its efforts to back startups in this field, signals a notable transformation for the company. As it continues to innovate and expand, Google Cloud is gearing up to shape the future of the global Web3 ecosystem. The company's ambitious plans and recent initiatives indicate a bright future as it delves deeper into the fast-paced Web3 industry.