Aptos is one of the best-performing digital assets after Microsoft announced it was partnering with the developer behind the blockchain.
Aptos Labs said in a Wednesday statement that it was joining forces with Microsoft in a multiyear partnership to expand global Web3 with Microsoft’s Azure OpenAI Service and Aptos blockchain technology.
Aptos—which trades as APT—is currently up 13% in the past 24 hours, making it the second biggest gainer in the past day. It is priced now at $7.51, according to CoinGecko.
On news of the announcement, APT shot up to a high of $7.91 but has now dipped again.
APT is the native token for the Aptos blockchain, a VC-backed, layer-1 project which came about when Meta’s Diem project failed and its developers wanted to start a new thing.
Its backers include the likes of Andreesen Horowitz, Multicoin Capital, and Coinbase Ventures.
“The integration of Microsoft’s AI marks a crucial turning point, bringing an end to the long-standing hurdles to web3 entry. The future of the internet isn’t just a pipe dream — it’s here and it’s being built on Aptos,” Wednesday’s announcement read.
As part of the new effort, Aptos will use Microsoft Azure infrastructure to roll out new AI-powered blockchain tools, like an Aptos Assistant chatbot. The AI chatbot will act as a stand-in for customer service for users who are curious about the network and developers who are building projects on it.
Pairing Aptos Labs’ blockchain technology with Microsoft’s AI service will help “democratize the use of blockchain enabling users to seamlessly on-board to Web3 and innovators to develop new exciting decentralized applications using AI,” Rashmi Misra, Microsoft’s head of AI and emerging technologies, said in the release.
It said that the two companies will look into how they can help the financial sector and will work together on an AI chatbot.
Aptos Labs will also integrate Microsoft’s Azure OpenAI Service into its network.
A number of other high-profile companies are also using Aptos, including Google Cloud, Mastercard, NBC Universal, KYD Labs, and Franklin Templeton.