Aptos token rises 11.6% after Microsoft deal to marry AI with blockchain
APT pumped 17.6% within the first 50 minutes before cooling off to $7.51 — still 11.6% above pre-announcement levels.
Aptos (APT), the cryptocurrency powering layer-1 blockchain Aptos Network, is up approximately 11.6% since announcing it will leverage Microsoft’s suite of artificial intelligence tools to advance Web3 adoption among banks and financial enterprises.
This will be achieved by enabling the Aptos Network to tap into Microsoft’s Azure OpenAI service to explore innovations in asset tokenization, on-chain payments and central bank digital currencies, Aptos explained in an Aug. 9 statement.
Today, we're making Aptos history.@AptosLabs is partnering with @Microsoft to unlock Web3 on the @Aptos_Network.
— Aptos Labs (@AptosLabs) August 9, 2023
As an @msPartner, our joint suite of AI-supported tools will offer developers and users around the world effortless access to Web3. (1/6) pic.twitter.com/zWsrVWhSql
Mo Shaikh, the CEO of Aptos Labs who previously worked at Meta and BlackRock, signaled high hopes for AI-powered blockchain solutions:
"Artificial Intelligence and blockchain technologies are quickly converging for one important reason: they are both generational breakthroughs that profoundly impact the evolution of the internet and shape society.”
One of the new tools, Aptos Assistant — a ChatGPT-powered chatbot — will aim to help users navigate from Web2 to Web3 by offering virtual guidance with the onboarding process.
Microsoft will also boost the security of the Aptos Network by allowing Aptos Labs to run validator nodes on Azure, according to the cryptocurrency firm.
The news — which was unveiled on Aug. 9, 12:30 pm UTC — immediately pushed APT up 17.6% to $7.92 within the first 50 minutes before cooling off to $7.51 at the time of writing, according to CoinGecko.