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- 1 Both the entities are coming together for joint venture to explore Web3 space.
- 2 APT token was trading at a market price of $7.4 losing 3.4% in the last 24 hours.
Microsoft, a prominent software producer, and blockchain firm Aptos Labs have joined forces to harness artificial intelligence for wider integration of web3 technologies. This collaboration’s announcement triggered a notable effect on the value of APT, the native token of Aptos Network, as it experienced an impressive surge of nearly 15%. Presently, APT is being traded at a market price of $7.31 as of the time of this report.
According to the official statement, Aptos Labs will leverage Microsoft’s Azure OpenAI Service, an integral component of the Azure cloud platform. Despite the press release, doubts persist among users concerning the concepts of blockchain and web3. This partnership aims to narrow this knowledge gap, facilitating the dissemination of these technologies and fostering a better comprehension among the public.
Aptos Steps Towards Artificial Intelligence (AI)
Aptos intends to introduce “Aptos Assistant,” a virtual AI-driven aide, to facilitate the onboarding of users into web3 environments. This interactive tool will engage users through queries linked to Aptos, thereby assisting them in familiarizing themselves with the ecosystem. In addition, for developers, Aptos Assistant will serve as a valuable mentor and information source, aiding in the creation of smart contracts and decentralized applications.
According to Aptos Labs CEO Mo Shaikh, “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.”
Furthermore, Microsoft and Aptos Labs are set to embark on a journey of innovation, delving into various cutting-edge solutions such as asset tokenization, payment systems, central bank digital currency (CBDC), and beyond. As part of this collaboration, Aptos security will be reinforced, as it plans to operate validator nodes on the Azure platform, as mentioned in a statement by Aptos Labs on Twitter.
Subsequent to the announcement, the price of APT surged to a peak of $7.98. Trading activity on that day exhibited a remarkable upswing, surpassing 500,000 units, as reported by data aggregator TradingView. Notably, APT showcased an impressive surge of nearly 500% in January 2023. Nonetheless, its fortunes took a downturn over the following months, experiencing a significant decrease in value.
The recent upsurge reflects a resurgence of optimism within the community, particularly after APT experienced a decline of more than 3% just a few days prior. The collaboration with a prominent entity like Microsoft not only offers Aptos Network a platform to reach a substantial user audience but also presents an opportunity to tap into the broader tech landscape. Furthermore, embracing the AI wave during its period of rapid growth is a strategic and astute maneuver.
In contrast to the APT token, MSFT stock did not witness any positive movement; rather, it sustained its downward trend. The stock has incurred a decline of more than 12% since July 18, 2023. Notably, the technology behemoth is currently engaged in finalizing the Activision Blizzard acquisition, a move that regulatory bodies perceive as detrimental to competition within the gaming sector.