Aptos Token Jumps 11.6% After Microsoft AI-Blockchain Partnership

• Aptos, the cryptocurrency powering layer-1 blockchain Aptos Network, is up 11.6% after announcing a partnership with Microsoft to leverage its suite of AI tools for asset tokenization, on-chain payments and central bank digital currencies.
• The news pushed APT up 17.6% within 50 minutes before cooling off to $7.51 — still 11.6% above pre-announcement levels.
• The Aptos Network launched on Oct. 17 after four years of development and is down 62.9% from its all-time high price of $19.92 on Jan 26th according to CoinGecko.

Aptos Token Rises After Microsoft Partnership

Aptos (APT), the cryptocurrency powering layer-1 blockchain Aptos Network, is up approximately 11.6% since announcing it will leverage Microsoft’s suite of artificial intelligence tools to advance Web3 adoption among banks and financial enterprises.

Azure OpenAI Service to Explore Innovations

This will be achieved by enabling the Aptos Network to tap into Microsoft’s Azure OpenAI service to explore innovations in asset tokenization, on-chain payments and central bank digital currencies, Aptos said in an Aug 9th statement. One of the new tools, Aptos Assistant — a ChatGPT-powered chatbot — will aim to help users navigate from Web2 to Web3 by offering virtual guidance with the onboarding process.

Microsoft to Boost Security

Microsoft will also boost the security of the Aptos Network by allowing Aptos Labs to run validator nodes on Azure, according to the cryptocurrency firm. The news was unveiled at 12:30 pm UTC on Aug 9th and immediately pushed APT up 17.6%, before cooling off later that day at $7.51 according to CoinGecko at time of writing.. Despite this pump in price, APT is still down 62/9% from its all time high price of $19/92 reached back in January 26 according CoinGecko data .

Founded By Former Meta Employees

The Aptos network launched October 17th after four years of development , founded by former Meta employees Mo Shaikh and Avery Ching who played a role in Meta’s failed Diem project . CEO Mo Shaikh signaled high hopes for AI powered blockchain solutions : “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 “.

Conclusion

The partnership between Microsoft and Aptous looks set open new doors for web 3 adoption among banks and financial enterprises . This could result in a potentially large boost for APT token prices as well as wider adoption for blockchain technology .