BytePlus, the business wing of ByteDance, the corporation behind TikTok’s creation, has revealed plans to enter the Web3 realm by partnering with Mysten Labs, the innovative team behind the Sui blockchain platform.
On April 17, BytePlus announced its intentions to leverage its expertise in AI and data warehousing to strengthen the Sui platform, specifically benefiting Web3 gaming and SocialFi initiatives.
BytePlus and Sui will collaborate, allowing BytePlus to incorporate its advanced offerings such as ByteHouse (a cloud-based data warehouse) into Sui’s complete node data.
Based on the news, integrating BytePlus into Sui may enhance its analytical functions significantly. This is because BytePlus offers infinite scalability and real-time data processing capabilities.
Stonewall Laboratories can gain advantages from ByteHouse’s swift performance and minimal upkeep, potentially leading to faster data transmission for end-users on the Sui platform.
Evan Cheng, the co-founder and CEO of Mysten Labs, expressed that this collaboration has the potential to significantly transform data analytics within the Web3 industry.
“Integrating cutting-edge AI and visual algorithms into Sui signifies a leap forward for user experience within Web3 gaming platforms and SocialFi projects.”
CryptoMoon has reached out to ByteDance for additional information on its move into Web3.
ByteDance had previously delved into Web3 technology. Back in 2019, it was revealed that the company had teamed up with a Chinese state-owned media group to establish new businesses focusing on blockchain and artificial intelligence.
In June 2020, ByteDance applied for a virtual banking license in Singapore with the goal of making their entrance into the digital finance world.
Instead of “Sui, on the other hand, is a more recent layer-1 network launched by Mysten Labs in March 2022,” you could also say:
In February, the Sui Foundation teamed up with a university in the UAE to establish a blockchain academy. Around a month after this announcement, it became public knowledge that the Greek stock exchange, ATHEX, intended to use its innovative fundraising method within the Sui blockchain system.
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2024-04-17 16:13