TikTok’s Move Into Web3

TL;DR

• TikTok’s parent company just announced a move into Web3, letting companies buy access to cloud storage and AI services via the blockchain.

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Remember yesterday when we got all giddy about Web2 companies partnering with crypto projects once again?

Well, when it rains, it pours…

ByteDance, TikTok’s parent company just announced a move into Web3!

According to CoinTelegraph:

“In a statement on April 17, BytePlus [the enterprise technology arm of ByteDance] explained how it plans to use its existing knowledge and experience in artificial intelligence (AI) and data warehousing to empower the Sui ecosystem, with a particular focus on Web3 gaming and SocialFi projects.”

…cool. What the hell does that all mean?

It’s vague, but here’s how we’re reading it — if you want to:

A) Store your game or social platform’s data somewhere.

And/or…

B) Use ByteDance’s AI to enhance the player/user experience

All while paying for these services instantly via the blockchain…

Now you can! All via the Sui network.

Another sign of good health for the crypto space :)