TIKTOK’S PARENT COMPANY IS CHARGING INTO CRYPTO WITH MYSTEN LABS PARTNERSHIP
- ByteDance, the parent company of TikTok, has made a sudden and strategic move into Web3 via its enterprise technology arm, BytePlus.
- The move comes in the form of a partnership with @Mysten_Labs, the development company behind $SUI and the @SuiNetwork.
- Byte’s initiative will leverage its existing experience in AI to bolster the Sui ecosystem - In particular, via the SocialFi and GameFi verticals.
- According to Mysten Labs’ CEO and co-founder, Evan Cheng…
“Integrating cutting-edge AI and visual algorithms into Sui signifies a leap forward for user experience within Web3 gaming platforms and SocialFi projects."
- As part of the initiative, ByteDance will leverage its cloud data warehouse to boost Sui’s analytics and data capabilities, enabling real-time data processing and ‘infinite scalability’.
- ByteDance becomes just the latest technology-behemoth making a strategic entry to the blockchain vertical, looking to tap into its technological potential and growth.
- The $SUI token itself has experienced a sudden spike on the news, now up nearly 10% in 24h.
