Sui, a layer 1 blockchain platform, has forged a partnership with BytePlus, a subsidiary of ByteDance, the parent company of TikTok. The collaboration aims to delve into artificial intelligence (AI) and Web3 gaming initiatives within Sui’s blockchain ecosystem.
According to an announcement by Sui, Mysten Labs, a web3 infrastructure firm and the original contributor to Sui’s blockchain, has joined hands with BytePlus, ByteDance’s enterprise technology division. The partnership entails the exploration of data warehousing, AI recommendation algorithms, and AI visual algorithms specifically tailored for web3 gaming platforms.
Joint Endeavors
Mysten Labs, founded by former lead architects of Meta’s blockchain research team, will collaborate closely with BytePlus to bolster community building within the Sui ecosystem. This collaboration will extend to organizing hackathons and educational programs aimed at fostering a vibrant developer community within Sui.
Elevating User Experience
Evan Cheng, co-founder, and CEO of Mysten Labs, emphasized the significance of integrating advanced AI recommendation and visual algorithms into Sui’s framework. Cheng noted that this integration marks a significant advancement in enhancing user experience within Web3 game platforms and socialFi projects.
About Sui
Sui distinguishes itself as a decentralized layer 1 blockchain and smart contract platform designed to democratize digital asset ownership. The platform prioritizes speed, privacy, security, and accessibility for all users.
Leadership Insights
Evan Cheng, who boasts over 24 years of experience in developing developer-facing technology and leading engineering teams at prominent tech firms like Apple and Facebook, serves as the CEO of Mysten Labs.
SUI Token and Network Security
The native token of Sui, SUI token, boasts a capped total supply of ten billion tokens. Primarily utilized to secure the network, SUI token serves as a unit of account and payment within the Sui ecosystem. Interested parties can acquire SUI tokens through various centralized exchanges, including Binance, Coinbase, KuCoin, Bybit, Kraken, and Bitfinex.
Investment Trends in Web3 Gaming
In 2024, the Web3 gaming sector has witnessed a surge in funding activities. Notably, in March, Australian venture capital firm King River Capital collaborated with blockchain gaming firm Immutable and Polygon Labs to establish a $100 million gaming fund.
Similarly, in April, Silicon Valley-based venture capital firm Andreessen Horowitz (a16z), founded by Marc Andreessen and Ben Horowitz, announced a $30 million investment plan in gaming startups for the year. Andrew Chen, a general partner at a16z Games, disclosed this funding initiative via the social media platform X. Chen outlined that the firm plans to allocate $750 per startup through its a16z Speedrun program. The deadline for funding applications is May 19, with shortlisted candidates notified by the end of July.
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