Aptos Lands Microsoft Deal; APT Surges Ahead of Token Unlock

Microsoft marries artificial intelligence with blockchain in a long-term deal with Aptos Labs.

Mohammad Shaikh CEO of Aptos showing posing as his Aptos token is in the galaxy.
Created by Kornelija Poderskytė from DailyCoin
  • Microsoft inks a deal with Aptos Labs for a long-term partnership focused on AI.
  • #35 ranked altcoin Aptos (APT) printed a massive God candle following the news.
  • Blockchain specialists flocked to Aptos Labs after Meta shelved its crypto plans.

The technology powerhouse Microsoft has entered an unprecedented deal with Aptos Labs. The partnership focuses on merging the capabilities of blockchain technology with artificial intelligence. To live up to its full potential, this collaboration will start with Aptos launching the Aptos Assistant, which is based on Microsoft’s OpenAI.

The Intersection of AI and Blockchain Put into Practice

Aptos Assistant comes as the first installment in this long-term partnership. Powered by Microsoft’s OpenAI, this chatbot can educate users about Web3 using simple-to-understand language, while developers can use Aptos Assistant to build dApps and smart contracts.

Aptos will run validator nodes through this deal on Microsoft’s Azure cloud computing platform. This would allow Aptos to increase the security and overall reliability of the blockchain network.

GitHub, the coding environment owned by Microsoft, will also implement APT’s Move programming language into Copilot, an AI widget that makes life easier for developers by auto-completing tasks.

The network was founded by Mo Shaikh and Avery Ching, two former Meta’s Diem stablecoin team workers. After the project was cut, the two came up with the idea to launch a blockchain with Move technology.

At press time, the #35 ranked altcoin APT trades at $7.37, according to CoinGecko. After the partnership with Microsoft was announced, the token spiked by 14.5% to the 7-day high of $7.82. Later retracing back to hover slightly above the $7 support level, APT is one of the TOP Three gainers of the week.

Can Blockchain Make Artificial Intelligence Better?

It’s fair to say that artificial intelligence has been the talk of the town for most of 2023. Naturally, AI-based projects have scooped up a whopping $25 billion in Q1 of 2023, while crypto startups received significantly less – $3.6 billion.

However, the number drop shouldn’t be considered, considering the unfortunate developments in 2022 in FTX and Terra Luna. While artificial intelligence is on the rise, many big IT players have warned that there’s a lot to be done before AI can operate flawlessly.

Here’s what Aptos CEO Mo Shaikh said:

“Artificial Intelligence and blockchain technologies are quickly converging for one important reason: They are both generational breakthroughs that profoundly impact the evolution of the internet and shape society”.

The co-founder of Aptos blockchain and former Meta executive points to blockchain’s advantages. For example, the current machine language learning models usually have a margin for error, interpreting facts in a way that often spreads non-objective or false information.

On the other hand, blockchain provides only real, verifiable information, which on-chain records can prove. Thus, if AI chatbots are to ingest the data only from the blockchain, that would eliminate the chance of misinterpretation. AI models “wouldn’t be nearly as prone to hallucinations,” added Shaikh.

On the Flipside

  • Aptos (APT) is exposed to frequent token unlocks and is frowned upon by some crypto traders because of tokenomics.
  • According to this theory, $APT’s price could be manipulated, as nearly 90% of the tokens are locked and unavailable to the public.

Why This Matters

Microsoft is a pioneering company in IT – a blockchain-focused partnership with Aptos is very favorable for crypto adoption in the long run.

Explore DailyCoin’s trending crypto news:

Coinbase’s Layer-2 Base Kick-Offs ‘Onchain Summer’ with Public Release

Binance Acknowledges Vulnerability in Wallet Protocol: Coinbase, ZenGo Also Affected

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.