Key Points
- Layer-1 blockchain Sui teams up with BytePlus, a subsidiary of TikTok’s parent company ByteDance.
- The aim is to explore AI and Web3 gaming projects on Sui’s blockchain.
Layer-1 blockchain Sui has just teamed up with BytePlus which is a subsidiary of TikTok’s parent company ByteDance. The aim is to explore AI and Web3 gaming projects on Sui’s blockchain. This year, the Web3 gaming projects have seen rising popularity.
In the official announcement on X, Sui said that Mysten Labs, a Web3 infrastructure company and the original contributor to the Sui blockchain, teamed up with BytePlus, ByteDance’s enterprise technology arm.
The new partnership was announced onstage at Sui Connect Dubai today. According to the note, BytePlus will explore data warehousing, content recommendation, content generation, and augmented reality in Web3 game platforms and socialFi projects in collaboration with Mysten Labs.
@EmanAbio and Long Li, BytePlus Regional Manager, announced this new partnership onstage at Sui Connect Dubai today.
BytePlus will explore data warehousing, content recommendation, content generation, and augmented reality in Web3 game platforms and socialFi projects in… pic.twitter.com/hrjTQBTsqz
— Sui (@SuiNetwork) April 17, 2024
The announcement also revealed that the move means that Sui will be able to use ByteHouse, a cloud-native data warehouse for batched and real-time analysis, in combination with the full nodes data. This will reportedly lead to elevated performance, and it will ensure accelerated delivery for users.
Mysten Labs was built by former lead architects of Meta’s blockchain research team.
Evan Cheng, its co-founder and CEO, said in a press release that integrating cutting-edge AI recommendation and visual algorithms into Sui means a leap toward improving user experience within the Web3 game platforms and socialFi projects.
Following the partnership announcement, SUI token’s price surged at $1.25, up by about 7.6% in the past 24 hours on CoinMarketCap. SUI has a total market cap of over $1.6 billion.
What is Sui blockchain?
Sui is a layer-1 protocol blockchain, which means that it performs its own consensus and validation for transaction blocks on its networks using its own native token, SUI. Transaction blocks on Sui often deal with small fractions of the value of one SUI.
In order to make transaction blocks easier to work with, Sui offers MIST. It takes one billion MIST to equal one SUI.
Besides strong technical foundations, Sui prioritizes user experience by eliminating barriers commonly associated with blockchain interactions.
Through innovations such as zkLogin, sponsored transactions, and programmable transaction blocks, Sui creates a higher standard for user experience within Web3 by ensuring applications are accessible and user-friendly.