One of the most interesting aspects of the crypto industry is just how many different niches can be capturing investors’ interests at once. In 2021, investors were as gripped by non-fungible tokens (NFTs) as they were pupcoins, metaverses and layer 2. 2022 brings with it a lot of these interests, but it also sees some newer interests joining the fold. One crypto industry getting much attention is Web 3.0, proclaimed to be the next step for the internet evolution. Flux (CCC:FLUX-USD) is one crypto play that’s truly exciting Web 3.0 bulls, and some news from the Flux crypto project this week is causing a stir.
Flux is a project that wants to challenge the web service products of tech giants like Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL). The cloud software outfit offers a suite of products that compete with the offerings of that of Amazon Web Services, but with the added bonus of being decentralized.
Using Flux, one can deploy containerized apps and oracles, host servers and store files. The network also guarantees competitive speeds to these tech giant services; user-run FluxNodes support the infrastructure underlying these services. Anybody can operate a node, and they’re spread all over the world. This makes apps accessible anywhere and at any time.
The Flux crypto has been astonishing investors for a few months now. Indeed, the coin is posting gains of over 800% since October of last year. It’s also rapidly becoming a frontrunner when it comes to Web 3.0 crypto projects. Three months ago, Flux was not even among the top 500 crypto projects by market capitalization; today, it is the 122nd-largest crypto, and one of the largest of the Web 3.0 movement, with its $500 million market cap.
Flux Crypto Inks Partnership With Nvidia on Development
The Flux crypto is obviously going through massive changes for the better. This week, it’s not slowing down on this pace in the slightest. In fact, Flux is ramping up development significantly, thanks to a backing by a major tech player.
Nvidia (NASDAQ:NVDA) is a tech company that is coming more into public view throughout the chip shortage. That’s because the company is most known for its production of high-end graphics processing units (GPUs). It’s also especially relevant in the crypto world, as these GPUs are fueling the world of cryptocurrency mining.
Now, Nvidia is stepping into the world of crypto and Web 3.0 by announcing an Inception partnership with Flux. As a premier partner, Flux is one of just a few projects with the highest level of access to Nvidia’s engineers and marketers, who will be able to offer support to the project. The partnership is forged out of an interest Nvidia shares with Flux and other Web 3.0 projects to further the success of a decentralized internet. And now, Flux will have a vast array of tools at its disposal to beef up its offering and ensure future innovation.
Unfortunately for investors, the Flux crypto isn’t reflecting this bullish news yet; the coin is currently losing about 10%. With investors anticipating an official announcement from the Nvidia side of the camp, though, things could look different soon.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.