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

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

This will probably 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.

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 rapidly converging for one necessary 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 news — 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, according to CoinGecko.

APT pumped almost 18% after the announcement. Supply: 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 remains 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 growth. Aptos was based by former Meta staff Mo Shaikh and Avery Ching, who additionally had a task in Meta’s failed Diem challenge.

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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