Web3Labs announces a partnership with DFINITY Foundation

Web3Labs has announced a strategic partnership with the DFINITY Foundation. The objective of entering into this collaboration is to boost the blend of artificial intelligence, that is, AI and Web3. DFINITY Foundation brings to the table an investment worth $20 million via the ICP Asia Alliance. Web3Labs looks forward to serving as a key player, fueling it with its expertise and technical strength.

Both parties will mutually access resources and cement the integration to help ICP further consolidate its market position in Hong Kong and then in Asia in terms of Web3 innovation.

Dominic Williams, the founder and chief scientist at DFINITY Foundation, said that the partnership complements the ideas and technical strength of the internet computer, adding that the partnership will also help DFINITY extend its influence throughout the Asian region. Williams is looking forward to this partnership, as it comes with a higher chance of boosting the brand influence and market share of ICP by setting a new benchmark for the development of the blockchain industry.

DFINITY confirmed the development by reposting the announcement on X. It highlights that the team is gearing up for a series of events and announcements in Hong Kong, signaling that there is a lot to come under the umbrella of their strategic partnership.

Web3Labs has made a similar announcement, but it concerns an event that its subsidiary brand, Satoshi Labs, is hosting. UTXO will co-host the event to commemorate the grand opening of Bitcoin Dev Con. It will run from May 7, 2024, to May 8, 2024, for two days at the Hong Kong Science Park.

It will center around BTC L2 solutions, giving participants a chance to pitch their projects and take home investments worth $5 million. A total of six projects are said to be participating in this event: BOB, Merlin Chain, CKB, Botanix Labs, BEVM, and AINN Layer 2.

As for DFINITY Labs, it has also joined hands with ICB HUB Balkan. Together, they will unlock new levels of liquidity, utility, and flexibility by bridging the gap between Solana and ICP. It will streamline the transfers from SOL to ICP and vice versa. Termed ckSOL, the project is expected to go live soon, with an announcement about the same being rolled out in the days to come.

Moving forward, DFINITY will take center stage at the Web3 Festival. The theme is primarily to explore how ICP works in building a world computer with its full-stack solution, dePIN, and decentralized AI, along with other elements.

Web3Labs, meanwhile, is looking forward to backing R3al World Hong Kong on April 8, 2024, to discover the true potential of projects in the Web3 arena and provide them with resources for future support and promotion.

The strategic partnership between Web3Labs and the DFINITY Foundation is in its early stages. They are motivated by promoting innovation in the Web3 and AI divisions, particularly by bringing them together and fueling industry growth through technical strength and advanced concepts.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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