ByteDance's Parent Company and SUI Partner to Develop Web3 Game
BytePlus, the enterprise technology arm of ByteDance, the parent company of TikTok, is diving deep into the Web3 space through a strategic partnership with Mysten Labs, the creators of the Layer-1 SUI blockchain.
Announced on April 17th, this move reflects BytePlus's intent to leverage its expertise in data repositories to bolster the SUI ecosystem, particularly focusing on Web3 Gaming and SocialFi endeavors.
Cloud-Native Data
BytePlus, a branch of ByteDance, has teamed up with Mysten Labs to venture into the blockchain gaming sector, utilizing ByteHouse's data storage expertise to enhance the SUI blockchain ecosystem. This collaboration requires BytePlus to integrate its advanced solutions, including ByteHouse, a cloud-native data repository with SUI's full-node data infrastructure.
The integration is expected to significantly enhance SUI's analytical capabilities, offering potential benefits such as unlimited scalability and real-time data processing. Mysten Labs stands to benefit from ByteHouse's high-performance and low-maintenance attributes, potentially speeding up data distribution processes for users on the SUI network.
Evan Cheng, co-founder and CEO of Mysten Labs, expressed optimism about the cooperative relationship, envisioning a data analytics revolution within the Web3 domain. Evan emphasized integrating innovative content creation and recommendation solutions to enhance user experiences across Web3 gaming platforms and SocialFi projects.
Moving Towards Mainstream
This initiative marks ByteDance's ongoing exploration of Web3 technology, following previous efforts such as joint ventures with a Chinese state media conglomerate focused on blockchain and AI development. Additionally, ByteDance's pursuit of a virtual banking license in Singapore in 2020 underscored their ambitions in the digital finance realm.
Li Long, Managing Director of MEA at BytePlus, highlighted that this initiative aligns with observed trends in blockchain-based game platforms and Web3 social interactions. BytePlus's longstanding goal has been to enhance experiences in Web3, foster community engagement, and facilitate deeper interactions.
Rapid Development
On the other hand, SUI, introduced by Mysten Labs in March 2022, has witnessed rapid ecosystem growth, driven by strategic partnerships. Noteworthy collaborations include establishing a blockchain academy in cooperation with a university in the UAE and implementing fundraising mechanisms from the Greek stock exchange, ATHEX.
As BytePlus and Mysten Labs embark on this joint venture, the intersection of Web3, gaming, and gaming technology promises to reshape digital experiences and community interactions in profound ways.
