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 saying it is going to leverage Microsoft’s suite of synthetic intelligence instruments to advance Web3 adoption amongst banks and monetary enterprises.

This will likely 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 mentioned in an Aug. 9 assertion.

At present, 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 provide builders and customers world wide easy entry to Web3. (1/6) pic.twitter.com/zWsrVWhSql

— Aptos Labs (@AptosLabs) August 9, 2023

Aptos Labs CEO Mo Shaikh, 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 essential motive: 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 can even increase the safety of the Aptos Network by permitting Aptos Labs to run validator nodes on Azure, according to the cryptocurrency agency.

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

Associated: Superblock raises $8M for “Over Protocol,” a new layer 1 blockchain focusing on lightweight full nodes

Regardless of the worth pump, the Aptos token continues to be down 62.9% from its all-time high price of $19.92 on Jan. 26, in response to CoinGecko.

The Aptos Network launched on Oct. 17 after 4 years of growth. Aptos was based by former Meta workers 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.

Journal: China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express