A $140 million financing round for the Walrus Foundation, an entity committed to developing a highly adaptable decentralized storage solution on the Sui blockchain, was led by Standard Crypto. Canary Capital Requests ETF, PENGU Value Increases
The Walrus protocol, a blockchain data storage platform presently in its testnet stage, intends to utilize the funds from the private token sale to broaden its data storage network on Sui (SUI).
Rebecca Simmonds, Executive Director of the Walrus Foundation, declared that this investment signifies a noteworthy achievement in redefining decentralized storage. They intend to render data storage programmable, interactive, and secure by utilizing Sui’s unique architecture.
Simmonds included that Walrus plans to take advantage of the rising demand for programmable storage, and this funding will aid in achieving that objective.
The Sui platform, created by Mysten Labs, is acquiring momentum as developers and projects employ its solutions for on-chain and off-chain data administration. Walrus permits any application to publish, read, and program data files utilizing Move-based smart contracts.
Users can access a solution far superior to conventional storage options by combining storage, availability, and decentralized computing.
According to the Walrus team, storage should be dynamic, verifiable, and programmable, with applications in AI datasets, blockchain history, and rich media.
Adam Goldberg, Co-founder and Managing Director at Standard Crypto, conveyed his enthusiasm in strengthening their relationship with Mysten Labs through this new investment in Walrus, commending their aptitude to translate research breakthroughs into innovative products.
A16z crypto, Electric Capital, Franklin Templeton Digital Assets, and Comma3 Ventures, along with numerous other leading cryptocurrency venture capital companies, joined Sequoia Capital in Walrus’ remarkable $140 million financing round.
In other news, the Walrus Foundation has revealed the much-awaited mainnet introduction of the Walrus protocol, scheduled for March 27, 2025. This represents a substantial achievement for the project and the wider decentralized finance (DeFi) environment. Bitcoin Digging Achieves a Significant Triumph in US Rule-making
