BytePlus Partners with Mysten Labs for AI Integration in Sui Blockchain

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ByteDance’s subsidiary, BytePlus, will collaborate with Mysten Labs to incorporate artificial intelligence (AI) technologies into the Sui Blockchain. This move by ByteDance signifies their entry into Web3 and AI, as the industry experiences increasing popularity among consumers and users.

BytePlus Strikes Deal With Mysten

Mysten Labs, the innovators behind the Sui layer-1 blockchain, have entered into a strategic partnership with BytePlus, the business technology sector of ByteDance – the corporation that manages TikTok. Together, they aim to broaden their reach in the Web3 realm.

With Mysten Labs, BytePlus plans to explore data warehousing, create content, develop recommendation systems, and integrate augmented reality technology in Web3 gaming platforms and social media initiatives.

BytePlus to Give Multiple Services to Sui

With the agreement, Sui can merge all of its nodes’ data into ByteHouse, a cloud-based data warehouse that supports both real-time and batch analyses. This integration will enhance performance and ensure quicker turnaround times for users.

Cooperation with Sui will extend to BytePlus offerings, including recommendation systems and BytePlus CDN, which is a network that accelerates content delivery. This collaboration may lead to increased visibility for major game development companies and other strategic partners due to potential usage of these solutions on the Sui platform.

Sui Network’s Growth Send Sui Token Up

A new development with BytePlus emerges as the Sui ecosystem experiences rapid expansion. Not long ago, First Digital Trust, a Hong Kong-based stablecoin issuer, announced plans to expand its $3 billion USD-pegged FDUSD token to the Sui blockchain.

Following the BytePlus deal announcement, the value of SUI tokens has risen significantly. The current price of SUI is $1.3 as of now. The total trading volume of cryptocurrencies today amounts to $329 million. In just the past day, SUI’s price has gone up by 7.37%. At present, it is being traded between $1.3 and $1.2 per token. Furthermore, the current market capitalization of Sui stands at $1,656,339,214.

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2024-04-17 22:13