KEY POINTS
Google Cloud has unveiled a new Web3 portal aimed at empowering developers to build on blockchain technology, including the creation of non-fungible tokens (NFTs). Despite this effort, the response from the community has been mixed.
The Web3 portal offers access to datasets from major blockchains like Ethereum, Polygon, and Bitcoin. Additionally, it includes a “Learn” section featuring tutorial videos on NFT development and case studies highlighting how companies are leveraging Web3 for innovative loyalty programs.
The portal also introduces a beta version of “Faucet,” an application that distributes free tokens on a testnet for developers to experiment with smart contracts and transactions.
While some have expressed enthusiasm for these new functionalities, others remain skeptical about Google’s initiative.
A user named MartyParty took to X (Twitter) to express disappointment, stating, “Google Cloud launches a web3 portal and its pretty terrible. Not impressed Google is way behind.”
Another user criticized Google’s intentions, suggesting that the tech giant might seek to monopolize the Web3 landscape rather than genuinely support its development.
Those thinking this is a great thing don't know Google, they are here to find a way to monopolize it, Googl would surely destroy this.
— Big Kahuna (@de_kahuna007) April 25, 2024
Google has been gradually increasing its involvement in the Web3 space since 2022. In October 2022, it announced a partnership with Coinbase, the leading cryptocurrency exchange, to foster collaboration in this domain.
In May 2023, Google Cloud announced the launch of a Web3 program to support startups and projects thriving in the space.
Following updates to Google’s policies have demonstrated a growing openness to emerging technologies. In July 2023, developers were allowed to integrate digital assets, including NFTs, into their apps on Google Play. Later, in September 2023, Google updated its advertising policies to allow blockchain-based gaming incorporating NFTs.
In December 2023, Google announced plans to introduce new advertising guidelines for crypto-related assets, products, and services, further signaling its evolving stance towards the cryptocurrency and blockchain space.
