BytePlus, Mysten Labs Partner for Sui AI Integration

BytePlus, the company behind TikTok, is partnering with Mysten Labs to integrate AI algorithms into the Sui Blockchain.

BytePlus, a division of ByteDance, the company that owns TikTok, will integrate artificial intelligence algorithms into the Sui Blockchain through a partnership with Mysten Labs.

During a period in which the sector has been gaining traction from both users and consumers, the company has decided to expand into the Web3 and artificial intelligence fields.

BytePlus Strikes Deal With Mysten Labs

Mysten Labs, the business that developed the Sui layer-1 blockchain, has entered into a strategic agreement with BytePlus, the enterprise technology subsidiary of ByteDance, the company that owns TikTok, in order to grow into the Web3 market.

BytePlus will conduct research on data warehousing, content production, recommendation, and augmented reality in Web3 game platforms and socialFi initiatives.

We will collaborate with Mysten Labs to carry out this investigation. According to the terms of the agreement, Sui will be able to merge the data from all of its nodes with ByteHouse, which is a cloud-native data warehouse, for real-time and batch analysis.

This will result in improved performance and ensure that customers will receive their data more quickly. We will also be working together on BytePlus products, such as recommendation systems and BytePlus CDN, which is a network of content distribution networks that allows for speedier delivery.

This will be another area of cooperation with Sui. Due to the fact that these things might potentially be used on Sui, it is highly probable that large game development companies and other significant partners will have an increase in exposure to this.

We reached an agreement with BytePlus during the rapid expansion of the Sui ecosystem. First Digital Trust, a Hong Kong-based stablecoin issuer, recently announced that it will be expanding its $3 billion dollar-pegged FDUSD token to the Sui blockchain.

Sui Network’s Growth Send Sui Token Up

Reports of an agreement with BytePlus significantly boosted the price of the SUI token. According to the time of this release, the current price of SUI is $1.3.

At the moment, the total trading volume for cryptocurrencies in a single day is $329 million. The price of SUI has recently climbed by 7.37 percent over the course of the previous day, and it is currently trading between $1.3 and $1.2 a unit.

A further point to consider is that the current market capitalization of Sui (SUI) is $1,656,339,214.