Aptos token rises 11.6% after Microsoft deal to marry AI with blockchain

Aptos (APT), the cryptocurrency powering layer-1 blockchain Aptos Community, is up roughly 11.6% since asserting it is going to leverage Microsoft’s suite of synthetic intelligence instruments to advance Web3 adoption amongst banks and monetary enterprises.

This can be achieved by enabling the Aptos Community to faucet into Microsoft’s Azure OpenAI service to discover improvements in asset tokenization, on-chain funds and central financial institution digital currencies, Aptos defined in an Aug. 9 assertion.

Immediately, we’re making Aptos historical past.@AptosLabs is partnering with @Microsoft to unlock Web3 on the @Aptos_Network.

As an @msPartner, our joint suite of AI-supported instruments will supply builders and customers around the globe easy entry to Web3. (1/6) pic.twitter.com/zWsrVWhSql

— Aptos Labs (@AptosLabs) August 9, 2023

Mo Shaikh, the CEO of Aptos Labs who beforehand labored at Meta and BlackRock, signaled excessive hopes for AI-powered blockchain options:

“Synthetic Intelligence and blockchain applied sciences are shortly converging for one vital purpose: they’re each generational breakthroughs that profoundly affect the evolution of the web and form society.”

One of many new instruments, Aptos Assistant — a ChatGPT-powered chatbot — will intention to assist customers navigate from Web2 to Web3 by providing digital steering with the onboarding course of.

Microsoft may also increase the safety of the Aptos Community by permitting Aptos Labs to run validator nodes on Azure, according to the cryptocurrency agency.

The information — which was unveiled on Aug. 9, 12:30 pm UTC — instantly pushed APT up 17.6% to $7.92 inside the first 50 minutes earlier than cooling off to $7.51 on the time of writing, based on CoinGecko.

Associated: Superblock raises $8M for “Over Protocol,” a brand new layer 1 blockchain specializing in light-weight full nodes

Regardless of the worth pump, the Aptos token continues to be down 62.9% from its all-time excessive worth of $19.92 on Jan. 26, 2023, based on CoinGecko.

The Aptos Community launched on Oct. 17 after 4 years of improvement. Aptos was based by former Meta staff Mo Shaikh and Avery Ching, who additionally had a job in Meta’s failed Diem undertaking.

It closed $150 million in funding in July 2022 and $200 million in March 2022 from the likes of Andreessen Horowitz, Coinbase Ventures and FTX Ventures.

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