BytePlus Partners with Mysten Labs for AI Integration in Sui Blockchain

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BytePlus Partners with Mysten Labs for AI Integration in Sui Blockchain – Crypto News

Published

1 year ago

April 18, 2024

Dripp

BytePlus, a unit of TikTok owner ByteDance is going to partner with Mysten Labs to integrate AI algorithms in the Sui Blockchain. The firm’s venture into Web3 and AI comes at a time when the industry has been gaining traction from both consumers and users.

BytePlus Strikes Deal With Mysten

The Sui layer-1 blockchain’s creators, Mysten Labs, have formed a strategic alliance with BytePlus, the enterprise technology division of ByteDance, the company that owns TikTok, to expand into the Web3 space.

In partnership with Mysten Labs, BytePlus will investigate data warehousing, content development, recommendation, and augmented reality in Web3 game platforms and socialFi initiatives.

BytePlus to Give Multiple Services to Sui

The deal implies that Sui will be able to combine its entire nodes’ data with ByteHouse, a cloud-native data warehouse, for real-time and batched analysis, improving performance and guaranteeing faster delivery for users.

Another area of cooperation with Sui will be BytePlus products, such as recommendation systems and BytePlus CDN, a network of content distribution networks for faster delivery. Large game development businesses and other important partners will likely get a rise in exposure as a result of the possible use of these items on Sui.

Sui Network’s Growth Send Sui Token Up

The deal with BytePlus comes as the Sui ecosystem has been growing recently. Just previously, First Digital Trust, a stablecoin issuer based in Hong Kong, said that it is extending its $3 billion dollar-pegged FDUSD token to the Sui blockchain.

After the announcement of the deal with BytePlus was announced, the SUI token saw a surge in its prices. SUI’s current price stands at, per press time $1.3. The total 24-hour trading volume of cryptocurrencies today is $329 million. The price of SUI has increased by 7.37% over the last day, and it is presently trading between $1.3 and $1.2 apiece. Additionally, the current market capitalization of Sui (SUI) is $1,656,339,214.