Analyst raises AIOZ price target to $4 after Alibaba deal

AIOZ Network has joined Alibaba Cloud, marking a critical moment for Web3 capabilities in the region.

The partnership will focus on the Alibaba Cloud Singapore Innovation Accelerator. It names AIOZ Network as its main blockchain partner, focusing on providing technology and financial support to selected Web3 projects.

AIOZ Network joins forces with Alibaba

The cooperation aims to extend beyond financial and technical support. Strategic plans aim to establish a deep alliance in Southeast Asia. This initiative seeks to improve infrastructure services related to AI, storage and streaming. These are critical components for the development and deployment of Web3 technologies.

In addition, AIOZ Network and Alibaba Cloud plan to organize a series of hackathons and meetups to strengthen the Web3 community across the Asia-Pacific region.

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

At the core of this alliance is a shared commitment to nurturing new capabilities and equipping developers with the tools and resources necessary to innovate in the Web3 space.

AIOZ Network brings Decentralized Private Infrastructure Network (DePIN) to the table. It focuses on using a global network to store, transcode and stream digital media content. However, stakeholders say the real impact of this collaboration will be measured by its success in supporting innovative projects.

The cryptocurrency community has warmly welcomed this collaboration, demonstrating a concerted effort to strengthen Site 3's infrastructure and offerings across the Asia-Pacific region. A fake analyst known as Corleone has emphasized the significant promise of artificial intelligence (AI) when integrated with cryptocurrency technologies.

“AI has tremendous potential to find its place in many aspects of our lives. The combination of AI and crypto has the potential to create a market worth trillions, Corlin said.

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

In addition, technical analyst Rect Fencer issued an optimistic outlook for the AIOZ token, stating that it could rise to $1.6, $2.6 or $4 following a modest price correction, marking significant milestones for the cryptocurrency's valuation.