MultiversX's EGLD token surges on Google Cloud partnership

MultiversX, the metaverse-focused blockchain platform, has witnessed a substantial boost in its native token, EGLD, following an exciting partnership announcement. The EGLD token price rallied nearly 10% after MultiversX revealed a collaboration with Google Cloud, a unit of the tech giant Alphabet Inc’s Google (NASDAQ: GOOGL).

The announcement sent EGLD’s price soaring from just under $24 to over $26 during the European morning hours. Although it later retraced to $24.59, the 24-hour gain amounted to an impressive 3.23%.

The Google Cloud partnership

This strategic partnership was unveiled during MultiversX’s xDay Conference held in Bucharest, Romania.

.@daniel_rood's message to #MultiversX builders during the @googlecloud partnership announcement bringing:

⚙️ BigQuery integration for on-chain data analytics
👨‍💻 Startup accelerator program
🛰 Support for hackathons and dev initiatives
🤝 Joint business developments pic.twitter.com/3FFTHsfYts

— Multiversᕽ (@MultiversX) October 20, 2023

The alliance is set to have a profound impact on the metaverse and blockchain industries. In a follow-up tweet, MultiversX said “the partnership has the potential to immediately streamline the execution of large-scale, data-first blockchain projects.”

Google Cloud’s AI and data analytics tools

The heart of this collaboration lies in the utilization of Google Cloud’s cutting-edge artificial intelligence (AI) and data analytics tools. These powerful technologies are set to revolutionize MultiversX’s capabilities.

With Google Cloud’s resources at its disposal, MultiversX aims to streamline large-scale blockchain projects, making it easier for developers to access vital data. This data includes information on addresses, transaction amounts, and smart contract interactions, among other valuable insights.

The significance of this partnership cannot be overstated. Google Cloud’s advanced technologies are expected to enhance the efficiency and capabilities of MultiversX’s blockchain platform, marking a significant step forward in the evolution of the metaverse space.

The surge in EGLD’s value reflects growing interest and investment in this emerging industry. As the metaverse continues to expand and evolve, collaborations like this one with Google Cloud are likely to play a pivotal role in shaping the future of blockchain technology, making it more accessible and powerful for developers and users alike.