- Microsoft and Aptos Labs will explore other innovative solutions in the future.
- APT token was trading at a market price of $7.31 at the time of writing.
Windows maker Microsoft and blockchain company Aptos Labs are partnering to use AI for a broader web3 adoption. The announcement had a direct impact on the price of Aptos Network’s native token APT, leading to an almost 15% surge. It is trading at a market value of $7.31 at publication time.
Aptos Jumps Into the AI Stream
The press release says Aptos Labs will use Microsoft Azure OpenAI Service, part of Azure cloud platform. Users are still skeptical about the notions of blockchain and web3. The collaboration will help in bridging the gap to promote understanding of these technologies.
Aptos will deploy Aptos Assistant, a virtual artificial intelligence (AI) powered assistant, to onboard users into web3 ecosystems by asking them questions associated with Aptos. For developers, it serves as a guide and resource provider to develop 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.”
Microsoft and Aptos Labs will also explore other innovative solutions including asset tokenization, payments, central bank digital currency (CBDC) and more. The partnership will increase Aptos security as they will run validator nodes on Azure, Aptos Labs said on Twitter.
APT Price Gains Following the News
APT price reached a high of $7.98 following the announcement. The day saw a dramatic rise in volume, surpassing 500K according to data aggregator TradingView. The asset gained almost 500% during January, 2023. However, it experienced a steep decline during the next couple of months.
The rise shows positive sentiments in the community after it slid by over 3% a couple of days ago. Partnering with a major company like Microsoft is a window for Aptos Network to get exposure to a large user base. Besides, jumping into the AI stream amid the technology’s boom is a clever move.
Unlike the APT token, MSFT stock did not witness any positive activity. In fact, it continued its momentum on a downward trajectory. The stock has lost over 12% since July 18, 2023. The tech giant is busy sealing the Activision Blizzard deal which regulators deem a move that will hurt competition in the gaming market.
Web3 is defined by decentralization. However, a lot of projects operating in this space are centralized, acting as decentralized spaces. Except for Bitcoin (BTC), none of the altcoins can be deemed truly decentralized. Even as mainstream companies are entering the Web3 market, scope for a decentralized environment appears far.
