The price of APT, a cryptocurrency that claims to be backed by real estate assets, has soared by more than 14% in the last week, following a rumor that Microsoft is in talks with Aptos Labs, a blockchain startup that uses APT as its native token. According to an anonymous source, Microsoft is interested in partnering with Aptos Labs to leverage its technology for creating decentralized applications (Dapps) that can run on the Azure cloud platform. The source also claimed that Microsoft is considering investing in Aptos Labs or acquiring it outright.
Aptos Labs is a relatively new player in the blockchain space, having launched its mainnet in June 2021. The startup claims to have developed a novel consensus mechanism that combines proof-of-stake (PoS) and proof-of-space (PoS), which allows users to stake their disk space as well as their APT tokens to secure the network.
The startup also claims to have a unique value proposition for its APT token, which it says is backed by real estate assets around the world. According to its website, Aptos Labs has partnered with several real estate developers and brokers to tokenize their properties and offer them as collateral for APT holders.
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The rumor of Microsoft’s involvement with Aptos Labs has sparked a frenzy among APT investors, who have been buying up the token in anticipation of a possible announcement. The price of APT surged from $6.80 on August 2 to 14 % increase on August 9, reaching an all-time high of $7.92 on August 8, according to CoinMarketCap.
However, neither Microsoft nor Aptos Labs have confirmed or denied the rumor, and some analysts have expressed skepticism about its validity. Some have pointed out that the source of the rumor is unverified and could be part of a pump-and-dump scheme. Others have questioned the legitimacy of Aptos Labs and its APT token, noting that there is little evidence of its real estate backing and that its technology is unproven and potentially vulnerable to attacks.
One of the challenges that Aptos Labs faces is the competition from other blockchain startups that are also aiming to disrupt the real estate industry with their own tokens and platforms. Some of the notable competitors include:
Propy, which allows users to buy and sell properties using cryptocurrencies and smart contracts.
RealT, which issues tokenized shares of real estate properties that generate passive income for investors.
EstateCoin, which creates fractional ownership of real estate assets through non-fungible tokens (NFTs).
These competitors have different approaches and advantages over Aptos Labs, such as having more established partnerships, more diverse portfolios, and more innovative features. Therefore, Aptos Labs will need to prove its value proposition and differentiate itself from its rivals if it wants to succeed in the crowded and competitive market.
As such, investors should exercise caution when dealing with APT and other cryptocurrencies that are based on rumors and speculation. While there is a possibility that the rumor could turn out to be true, there is also a high risk that it could be false or exaggerated, leading to a sharp drop in the price of APT and other related tokens.
In a similar shift, the Animal Age, a leading platform for animal rights activism and education, has announced a strategic partnership with zkSync, a layer-2 scaling solution for Ethereum. This partnership will enable The Animal Age to leverage zkSync’s technology to create fast, cheap and secure transactions for its users, donors and partners.
The Animal Age is a global network of animal lovers who are committed to raising awareness and taking action for the welfare of all animals. The platform offers various features such as petitions, campaigns, events, courses, forums and more. The Animal Age aims to empower its community to make a positive impact on the world and to create a more compassionate and sustainable future for all living beings.
zkSync is a trustless protocol that uses zero-knowledge proofs to scale Ethereum transactions without compromising on security or decentralization. zkSync can process thousands of transactions per second at a fraction of the cost of the mainnet, while preserving the same level of security guarantees as Ethereum. zkSync also supports smart contracts, enabling developers to build complex applications on top of it.
By integrating zkSync, The Animal Age will be able to offer its users a seamless and user-friendly experience when interacting with its platform. Users will be able to sign transactions with their existing wallets, without having to install any additional software or extensions. Users will also benefit from lower fees and faster confirmation times, making it easier and more affordable to support their favorite causes and projects.
The partnership will also open up new possibilities for The Animal Age to expand its reach and impact. With zkSync’s smart contract capabilities, The Animal Age will be able to create new features and functionalities that will enhance its platform and services. For example, The Animal Age could create a tokenized reward system that incentivizes users to participate in its activities and campaigns, or a decentralized governance system that allows users to have a say in the direction and vision of the platform.
The Animal Age and zkSync share a common vision of using technology for social good and creating a fairer and more inclusive world. Through this partnership, they hope to inspire and empower more people to join the movement for animal rights and to make a difference for all animals.
Fantom Considers Adding Optimistic Rollups to Connect with Ethereum
Fantom, a fast and scalable blockchain platform, is exploring the possibility of implementing optimistic rollups to enable seamless interoperability with Ethereum. Optimistic rollups are a layer-2 scaling solution that allow smart contracts to run on a sidechain with lower fees and higher throughput, while still benefiting from the security and decentralization of the main Ethereum network.
Optimistic rollups are one of the most promising technologies for scaling Ethereum, as they can support complex applications such as decentralized exchanges, gaming, and DeFi. However, they also pose some challenges, such as the need for fraud proofs, data availability, and cross-chain communication. Fantom aims to overcome these challenges by leveraging its own unique features, such as its asynchronous Byzantine fault tolerant (aBFT) consensus mechanism, its fast finality, and its compatibility with the Ethereum Virtual Machine (EVM).
Cronje confirmed that if Fantom were to adopt Optimistic rollups, providing a full transaction history on Ethereum, it would need to pay transaction fees to write these snapshots to the Ethereum network. Michael Kong, CEO of the Fantom Foundation, added that deploying Layer 2 technology in this manner would enable the Fantom network to aces more liquidity from the Ethereum ecosystem. Andre Cronje prefers to consider the Layer 2 network as aside chain, viewing the Optimistic rollups technology as a bridge between them.
By adding optimistic rollups to its platform, Fantom hopes to attract more developers and users who want to build and use applications that require both speed and security. Fantom also believes that this will enhance its value proposition as a bridge between different blockchains, especially in the context of the upcoming Ethereum 2.0 upgrade, which will introduce sharding and proof-of-stake.
Fantom’s team is currently conducting research and development on optimistic rollups and plans to launch a TestNet in the near future. The team is also collaborating with other projects in the blockchain space, such as Polygon and Arbitrum, to learn from their experiences and best practices. Fantom’s vision is to create a scalable and interoperable ecosystem that can support the growth and innovation of the blockchain industry.
Interestingly, over 100 million wallet addresses now hold non-zero amount of Ethereum, according to data analytics firm Glassnode, this development underscores the growing interest and adoption of Ethereum in the digital currency market. The increase in the number of addresses may also point to the potential expansion of decentralized finance DEFI applications and the rise of non-fungible tokens both of which have Ethereum as their bedrock.