Aptos (APT) has scored a significant deal with tech big Microsoft yesterday. Nevertheless, the announcement of a “partnership” between Aptos Labs and tech big Microsoft has raised eyebrows and ignited debates throughout the crypto neighborhood if that is simply smoke and mirrors. With the APT token witnessing a surge of almost 20% following the information, and a big token unlock looming, the timing and nature of this partnership have come below scrutiny.
Aptos-Microsoft Deal Simply A Click on?
Within the official press launch, Aptos Labs revealed its plans to combine Microsoft’s synthetic intelligence (AI) know-how. The collaboration goals to introduce a variety of instruments and companies, together with the Aptos Assistant chatbot, powered by Microsoft’s Azure OpenAI Service. The chatbot is designed to help customers with queries concerning the Aptos ecosystem and provide sources to builders crafting good contracts and decentralized functions.
CEO Mo Shaikh commented on the convergence of AI and blockchain, stating, “Synthetic intelligence and blockchain applied sciences are rapidly converging for one vital purpose: They’re each generational breakthroughs that profoundly affect the evolution of the web and form society.”
Nevertheless, the partnership’s announcement has not been with out its critics. Famend crypto analyst @DefiSquared, recognized for being the top-ranked dealer on Bybit, took to Twitter to specific his skepticism. He identified, “lmao what. Did you guys actually simply pump Aptos 15% on the “information” that it’s paying to make use of Microsoft Azure companies? Looks as if an apparent brief on a sequence that sure, nonetheless has no customers and an $8 bil valuation with an infinite token provide and 100% annual emissions.”
@DefiSquared additional highlighted the timing of the information, simply two days (on Friday) earlier than greater than 4.5 million APT tokens (2% of the circulating provide) shall be unlocked, suggesting potential ulterior motives. He additionally shared a screenshot from Microsoft’s web site, indicating the benefit with which entities can be part of the Microsoft AI Cloud associate program, sarcastically remarking, “Aptos actually clicked ‘Enroll without charge and turn into a associate as we speak’ and added a billion {dollars} to their market cap. Who knew it was that straightforward?”
Aptos actually clicked “Enroll without charge and turn into a associate as we speak” and added a billion {dollars} to their market cap. Who knew it was that straightforward? pic.twitter.com/Lt42y4vpB2
— DeFi^2 (@DefiSquared) August 10, 2023
Whereas the partnership guarantees to discover blockchain-based monetary companies, together with asset tokenization and central financial institution digital currencies, the specifics stay imprecise. Aptos’ consultant emphasised the collaborative nature of the partnership, stating, “It is a collaboration from day one. Aptos Labs’ crew of AI specialists, Ph.Ds, and Web3 builders are working instantly with Microsoft’s AI crew to coach fashions, combine AI know-how into the Aptos Assistant and GitHub components integrating with Aptos’ blockchain.”
APT Value Evaluation
Because the crypto neighborhood continues to dissect the nuances of this partnership, the query stays: Is that this a real stride ahead for Aptos, or a well-timed PR transfer to buoy token costs forward of a big unlock for enterprise capitalists (VCs)? Solely time will inform.
At press time, the APT value stood at $7.27. Thus, APT did not submit a better excessive. The value has already bounced downwards off the resistance at $7.98 and likewise forward of the 200-day EMA in addition to the 23.6% Fibonacci retracement stage.
Featured picture from iStock, chart from TradingView.com