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Aptos up

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Aptos (APT), the cryptocurrency driving Aptos Network's primary blockchain, has surged approximately 11.6% following its announcement of a strategic collaboration with Microsoft's AI tools to advance Web3 adoption within banking and finance sectors.

This collaboration, unveiled on August 9th, involves Aptos utilizing Microsoft's Azure OpenAI service to explore pioneering applications in areas such as asset tokenization, on-chain payments, and central bank digital currencies.

Aptos Labs' CEO, Mo Sheikh, a former professional at Meta and BlackRock, holds optimistic expectations for AI-infused blockchain solutions, recognizing their profound influence on internet development and societal transformation.

An innovative tool, Aptos Assistant, takes the form of a chatbot powered by ChatGPT, aiming to guide users in transitioning from Web2 to Web3 by offering virtual assistance during the onboarding process.

Microsoft's involvement extends to enhancing the security of the Aptos network, allowing Aptos LABS to operate validator nodes on Azure.

The announcement, made at 12:30 UTC on August 9, prompted a swift 17.6% surge in APT's value to $7.92 within the initial 50 minutes, subsequently settling at $7.51.

However, despite this recent surge, Aptos token remains down 62.9% from its peak price of $19.92 on January 26, 2023, as per CoinGecko data.

The Aptos network, launched on October 17 after four years of development, was founded by former Meta employees Mo Shaikh and Avery Ching, both of whom had involvement in Meta's Diem project, which did not succeed.

The company secured significant funding, with a $150 million round in July 2022 and a subsequent $200 million round in March 2022 from notable investors like Andreessen Horowitz, Coinbase Ventures, and FTX Ventures.

#1 - August 10, 2023, 09:47:45 AM


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