BytePlus, a division of the company behind TikTok, and Mysten Labs, the creators of the Sui blockchain, have formed a strategic partnership. BytePlus, linked to TikTok's parent company ByteDance, will work with Mysten Labs to incorporate AI technology into the Sui Blockchain. This move into Web3 and AI aligns with the growing interest in these technologies among consumers and industry players.

BytePlus and Mysten Labs Join Forces

Mysten Labs, the developers of the Sui blockchain, have teamed up with BytePlus, the technology arm of ByteDance, to expand into the Web3 sector. Together, they will explore applications of AI algorithms in data management, content creation, recommendations, and augmented reality within Web3 gaming platforms and socialFi projects.

Diverse Services Offered by BytePlus to Sui

This collaboration will enable Sui to merge its node data with ByteHouse, a cloud-based data warehouse, for real-time and batch analysis, enhancing performance and ensuring quicker services for users. BytePlus will also provide services like recommendation systems and BytePlus CDN, a network of content delivery systems, benefiting game developers and key partners by enhancing exposure on the Sui platform.

Growth in Sui Network Boosts SUI Token Value

The partnership with BytePlus coincides with the expanding Sui ecosystem. Recently, First Digital Trust, a Hong Kong-based stablecoin issuer, announced the extension of its $3 billion FDUSD token to the Sui blockchain. Following the news of the collaboration, the value of the SUI token surged, reaching $1.3 per token. The 24-hour trading volume for cryptocurrencies stands at $329 million, with SUI's price rising by 7.37% in the last day, currently trading between $1.3 and $1.2 each. The market capitalization of Sui (SUI) now stands at $1,656,339,214.