Sui Blockchain Collaborates with BytePlus for AI and Web3 Gaming Integration

13 views 2:31 pm 0 Comments May 17, 2024

Sui, a foundational blockchain platform, has established a strategic partnership with BytePlus, a subsidiary of ByteDance, the parent corporation of TikTok. This collaboration is focused on venturing into artificial intelligence (AI) and Web3 gaming endeavors within Sui’s blockchain ecosystem.

As per Sui’s announcement, Mysten Labs, a web3 infrastructure company and the original contributor to Sui’s blockchain development, has united forces with BytePlus, the enterprise technology arm of ByteDance. The partnership will involve the exploration of data warehousing, AI recommendation algorithms, and AI visual algorithms customized for web3 gaming platforms.

Collaborative Initiatives

Mysten Labs, founded by former principal architects of Meta’s blockchain research division, will work closely with BytePlus to enhance community engagement within the Sui ecosystem. This joint effort will extend to coordinating hackathons and educational initiatives to nurture a dynamic developer community within Sui.

Enhancing User Engagement

Evan Cheng, the co-founder and CEO of Mysten Labs, highlighted the importance of integrating advanced AI recommendation and visual algorithms into Sui’s framework. Cheng emphasized that this integration represents a significant stride in improving user engagement across Web3 gaming platforms and socialFi projects.

Overview of Sui

Sui distinguishes itself as a decentralized layer 1 blockchain and smart contract platform aimed at democratizing digital asset ownership. The platform places emphasis on speed, privacy, security, and inclusivity for all participants.

Leadership Perspective

Evan Cheng, with a wealth of experience exceeding 24 years in developing developer-centric technology and leading engineering teams at major tech entities such as Apple and Facebook, assumes the role of CEO at Mysten Labs.

SUI Token and Network Security

The native cryptocurrency of Sui, known as the SUI token, features a finite total supply of ten billion tokens. Primarily serving to secure the network, the SUI token functions as a unit of value and exchange within the Sui ecosystem. Enthusiasts can procure SUI tokens through various centralized exchanges, including Binance, Coinbase, KuCoin, Bybit, Kraken, and Bitfinex.

The year 2024 has witnessed a notable uptick in investment activities within the Web3 gaming sector. For instance, in March, Australian venture capital entity King River Capital collaborated with blockchain gaming company Immutable and Polygon Labs to establish a $100 million gaming fund.

Likewise, in April, Silicon Valley-based venture capital firm Andreessen Horowitz (a16z), co-founded by Marc Andreessen and Ben Horowitz, unveiled a \(30 million investment scheme in gaming startups for the year. Andrew Chen, a general partner at a16z Games, shared this funding initiative via the social media platform X. Chen outlined that the firm intends to allocate \)750 per startup through its a16z Speedrun program. The application deadline for funding is May 19, with selected candidates notified by the conclusion of July.