The Layer1 network Sui has announced a new partnership with investment firm Franklin Templeton. This partnership includes capital investment in Sui and support for the company's blockchain development.
Despite some ambiguous details, the exact nature of the working relationship between the two companies remains unclear.
Will the SUI ecosystem benefit from the Franklin Templeton effect?
The major Layer1 blockchain Sui has recently partnered with investment firm Franklin Templeton. This partnership will prioritize supporting the developer ecosystem rather than directly focusing on SUI development. The company claims that Franklin Templeton has been supporting blockchain projects since 2018, and the CEO has been a proponent of blockchain technology.
"Franklin Templeton Digital Assets has previously invested in the Sui ecosystem, and this new partnership will provide additional benefits by exploring value-creation opportunities that enable Sui developers to deploy new technologies on-chain," Sui claimed in a social media post.
So far, the company has not disclosed specific details about the planned blockchain development of the partnership. Instead, the company discussed a few existing projects that have attracted Franklin Templeton's interest: decentralized centralized order books, decentralized mobile telecom, and MPC networks.
This information slightly hints at the investment firm's intentions. Earlier this year, Franklin Templeton explored the DePin project, considering it a profitable development area. The company is also heavily investing in tokenization. This could help Sui by supporting its blockchain developers, particularly in the DePin field.
Sui has been performing quite well recently. It surged by 74% in the past month, reaching an all-time high on November 20th. Yesterday, the blockchain did not produce blocks for nearly two hours, but the token price remained impressively stable. These fundamentals could make Sui an attractive partner for Franklin Templeton.
Franklin Templeton has not yet made a direct announcement about this partnership. Sui has also published more advanced press materials, but they do not differ significantly from the main points of the announcement. It can be said that Franklin Templeton is investing in the Sui blockchain development.
