Two firms sign MoU to help blockchain and Web3 go from strength to strength

Two organizations have established a new partnership in their quest to establish an even greater presence across Southeast Asia.

The memorandum of understanding between Morpheus Labs and PingCap was signed on July 28.

Incorporated in Singapore, Morpheus Labs says its goal is to ensure everyone can succeed when creating and implementing Web3 blockchain applications.

It offers an industry-leading blockchain development toolbox that reduces the time and effort associated with rolling out DApps – and has a library of proven applications for developers to build on.

Meanwhile, PingCap offers cloud-based, distributed SQL databases designed for real-time analytics – unlocking new insights while scaling the infrastructure in line with business requirements.

Their partnership will enable each business to refer customers to the other – ultimately providing customers with a holistic experience with all the tools and services they need to thrive. Cooperation is also planned in the marketing world, but the MoU does not stop here.

Increases the market

Morpheus Labs and PingCap hope to pool their intelligence and contacts to help blockchain and Web3 go from strength to strength – while building a talented community across Southeast Asia. This will be accompanied by an ambitious roadmap.

PingCap is said to have already achieved unicorn status – and in turn is looking to expand across the region by establishing strategic partnerships with other brands that have already established a foothold in this booming economy.

This is one of the latest MOUs signed by Morpheus Labs. Back in June, it teamed up with Avadore – an upcoming blockchain-based metaverse project that plans to focus on the dating industry. Together, they hope to harness the latest technology to make looking for love more fun and immersive than ever before.

But as Morpheus Labs recently noted, there are technological hurdles to overcome first – and its core services and products will play an important role, offering an approach that few other blockchain companies will be able to match.

A productive hackathon

In other recent developments, Morpheus Labs has successfully concluded a week-long hackathon at Blockchain Week Singapore – describing the event as a “fun but enriching experience.”

The company says participants were able to build on their Web3 knowledge, bond with mentors and deploy “exciting and beneficial projects” on the ML SEED platform.

Another hackathon is already in the pipeline – along with further exciting collaborations that will feature leading brands and platforms.

If the bear market is the perfect opportunity to build, one thing is clear: Morpheus Labs plans to grab this opportunity with both hands.