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 bigger presence across South East Asia.

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

Morpheus Labs, which is incorporated in Singapore, 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 boasts a library of tried-and-tested applications that developers can build upon.

Meanwhile, PingCap provides cloud-native, distributed SQL databases that are designed for real-time analytics — unlocking new insights while ensuring infrastructure can scale in line with business demands.

Their partnership will enable each business to refer customers to the other — and ultimately give clients a well-rounded experience with all of the tools and services they need to thrive. Collaborations are also planned in the world of marketing too, but the MoU doesn't stop here.

Growing the market

Morpheus Labs and PingCap are hoping to bring together their intelligence and contacts to help blockchain and Web3 go from strength to strength — all while building a talented community across South East Asia. This will be accompanied by an ambitious roadmap.

PingCap is already said to have achieved unicorn status — and for its part, it wants to expand throughout the region by establishing strategic partnerships with other brands that have already established a foothold in this thriving economy.

This is one of the latest memorandums of understanding to be 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're hoping 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 that need to be overcome first — and its core services and products will play an instrumental role, offering an approach that few other blockchain companies would be able to match.

A productive hackathon

In other recent developments, Morpheus Labs has successfully brought a week-long hackathon to a close at Blockchain Week Singapore — describing the event as a "fun yet enriching experience." 

The company says participants were able to build upon 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'll boast leading brands and platforms.

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