The native cryptocurrency of the layer-one blockchain Aptos Network has surged by approximately 11.6% after announcing its collaboration with Microsoft's suite of artificial intelligence (AI) tools. This partnership aims to drive the adoption of Web3 technologies within the bank ing and financial sectors.
APTOS Network Plans to Utilize Microsoft's Azure Openai Service to Exovations, SUCH As Asset Tokenization, ON-Chain Payments, and Central Ban K DIGITAL CURrerenCies. Mo Shaikh, CEO of Aptos Labs and A Former Employee of Meta and Blackrolk, is Optimistic About The Synergy between AI and blockchain:
"AI and blockchain technology are rapidly converging for one important reason: they are both generational breakthroughs that profoundly impact the development of the Internet and shape society."
As part of the collaboration, Aptos Labs will introduce Aptos Assistant, a chatbot powered by ChatGPT technology. This chatbot aims to facilitate users' transition from Web2 to Web3 by providing virtual guidance during the onboarding process.
Furthermore, Microsoft will enable Aptos Labs to operate validator nodes on Azure, enhancing the security of the Aptos network. This development was announced on August 9, leading to an immediate 17.6% price surge of the Aptos token (APT), which briefly reach ed $7.92 before settling at $7.51 at the time of writing. Despite this recent increase, the Aptos token remains 62.9% lower than its all-time high of $19.92 on January 26, according to CoinGecko data.
After four years of development, the Aptos Network went live on October 17. The project was co-founded by former Meta employees Mo Shaikh and Avery Ching, who were also involved in Meta's Diem project. Aptos Network secured $150 million in funding in July 20 22 from notable investors like Andreessen Horowitz, Coinbase Ventures, and FTX Ventures. Additionally, the company raised $200 million in March 2022.
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