BytePlus and Mysten Labs collaborate for seamless integration of Sui blockchain technology.
BytePlus, a subsidiary of ByteDance, has joined forces with Mysten Labs to integrate their recommendation solutions and augmented reality technologies into the Sui blockchain. The decision to partner with Sui was driven by its strong support for gaming and social applications. Sui’s features, such as zero-knowledge proofs for user authentication and sponsored transactions, make it easier for users to access and use the platform.
BytePlus offers a range of services including content distribution networks, personalization solutions, user engagement tools, and data analysis. These services will now be accessible to developers on the Sui platform, empowering them to create innovative applications. One of the services, BytePlus Recommend, enables developers to design personalized user experiences. Another service, BytePlus Effects, provides a vast collection of stickers and effects for video applications. When combined with Sui’s non-fungible token (NFT) approach, these services are expected to facilitate the development of new social applications.
The announcement of the partnership has already had a positive impact on the Sui blockchain. According to CoinGecko, SUI’s trading price is currently at $1.26, representing a 5.4% increase in the last 24 hours. The market capitalization of SUI is estimated to be around $1.63 billion.
This collaboration comes at a crucial time, as TikTok, another subsidiary of ByteDance, faces potential bans imposed by the United States government. By providing these services on a decentralized network like Sui, BytePlus and Mysten Labs can ensure continuity and accessibility for their users.
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