IOST Network’s native token IOST rose 8.65% after the company announced an integration agreement with Amazon Web Services (AWS).
IOST, which stands for Internet of Services Token, will seek to enhance DeFi, NFT, GameFi and web3 services by integrating with AWS web3 solutions.
The announcement added that the network will use AWS AI tools and decentralized internet architecture.
Last month, Amazon Web Services looked for some web3-focused partners, and AWS may be preparing to build its own NFT marketplace.
IOST is a native blockchain that went public in 2018, with the goal of achieving 100,000 transactions per second (TPS).
The IOST token rallied 14% on the news and is currently trading at $0.0119, a partial retracement from highs near $0.013. According to data from Coinecko, transaction volume increased by 548% to $66 million.
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According to Coindesk