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Layer 1 Blockchain Sui Partners with BytePlus for AI and Web3 Gaming Projects
Layer 1 blockchain Sui has entered into a partnership with BytePlus, a subsidiary of TikTok’s parent company ByteDance, to collaborate on artificial intelligence (AI) and Web3 gaming projects on Sui’s blockchain.
Partnership Details
- Sui partners with BytePlus, a subsidiary of ByteDance
- Exploration of AI and Web3 gaming projects
- Focus on data warehousing, AI recommendation algorithms, and AI visual algorithms
Mysten Labs, the original contributor to the Sui blockchain, and BytePlus will work together to enhance the Sui community building, hackathons, and educational programs.
Evan Cheng, co-founder, and CEO of Mysten Labs, stated, “Integrating cutting-edge AI recommendation and visual algorithms into Sui signifies a leap toward enhancing user experience within Web3 game platforms and socialFi projects.”
About Sui Blockchain
Sui is a decentralized layer 1 blockchain and smart contract platform designed to make digital asset ownership fast, private, secure, and accessible to all users.
The Sui native token, SUI, has a total supply capped at ten billion tokens and serves as a unit of account and payment within the network. It is available for purchase on various centralized exchanges, including Binance, Coinbase, KuCoin, Bybit, Kraken, and Bitfinex.
Web3 Gaming Investment Trends
Web3 gaming projects have been attracting significant investments in 2024. Notable funding activities include:
- A $100 million gaming fund launched by King River Capital, Immutable, and Polygon Labs
- Andreessen Horowitz investing around $30 million in gaming startups
Andrew Chen, a general partner at a16z Games, announced the funding through the a16z Speedrun program, with $750 allocated per startup. The deadline for funding applications is May 19, and shortlisted candidates will be notified by the end of July.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
