Analyst Rises AIOZ Price Target to $4 After Alibaba Deal

AIOZ Network has joined forces with Alibaba Cloud, marking a pivotal moment for Web3 capabilities within the region. 

The partnership focuses on the Alibaba Cloud Singapore Innovation Accelerator. It designates AIOZ Network as the main blockchain partner, focusing on providing technological and financial support to selected Web3 projects. 

AIOZ Network Joins Forces With Alibaba

The collaboration aims to extend beyond financial and technical assistance. Strategic plans aim to establish a DePIN Alliance in Southeast Asia. This initiative seeks to improve infrastructure services related to AI, storage, and streaming. These are crucial components for the development and deployment of Web3 technologies. 

Furthermore, AIOZ Network and Alibaba Cloud plan to organize a series of hackathons and gatherings to bolster the Web3 community throughout the Asia-Pacific region.

“This collaboration with Alibaba Cloud represents a significant step forward. We are excited to foster and support groundbreaking innovations from the next generation of developers,” Erman Tjiputra, founder of AIOZ Network, said.

At the core of this alliance is a shared commitment to nurturing emerging talent and equipping developers with the necessary tools and resources to innovate within the Web3 space.

AIOZ Network brings to the table its decentralized private infrastructure network (DePIN). It focuses on leveraging a global network for the storage, transcoding, and streaming of digital media content. However, stakeholders will measure the true impact of this collaboration by its success in supporting innovative projects.

The cryptocurrency community has warmly embraced this collaboration, underscoring a unified endeavor to bolster Web3 infrastructure and offerings across the Asia-Pacific region. A pseudonymous analyst known as Corleone has emphasized the significant promise of artificial intelligence (AI) when synergized with cryptocurrency technologies.

“AI holds immense potential, finding its place in numerous facets of our lives. The combination of AI and crypto has the potential to create a market valued in the trillions,” Corleone said.

Read more: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

In addition, technical analyst Rekt Fencer has projected an optimistic outlook for the AIOZ token, suggesting that following a minor price correction, it could potentially escalate to $1.6, $2.6, or even $4, marking significant milestones for the cryptocurrency’s valuation.