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.png "Walrus Foundation Secures $140 Million to Revolutionize Decentralized Data Storage on Sui")
Funding led by Standard Crypto, with participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and Comma3 Ventures, will fuel the growth of Walrus, a high-speed, secure, and programmable decentralized storage network.
March 20, 2025 at 9:00 PM GMT+7 – Walrus Foundation, a pioneering organization dedicated to building a highly scalable decentralized storage solution, today announced the successful completion of a $140 million funding round. The private token sale was led by Standard Crypto, with significant participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and Comma3 Ventures, underscoring the strong institutional interest in Walrus's innovative approach to data storage.
Walrus is a next-generation decentralized storage protocol designed for unstructured data and rich media content, including large text files, videos, images, and audio. Built on the Sui blockchain, developed by Mysten Labs, Walrus offers secure, efficient, and decentralized storage solutions with key features such as end-to-end encryption, high-performance read/write operations, and programmable storage resources. The protocol is currently in testnet and is slated to launch its mainnet on March 27, 2025.
"This investment is a significant milestone to redefine decentralized storage," said Rebecca Simmonds, Managing Executive of Walrus Foundation. "By leveraging Sui’s unique architecture, we’re making storing data programmable, interactive, and secure."
The funding will be used to scale the Walrus data storage network on Sui, capitalize on the rising demand for programmable storage, and further develop the Walrus protocol. Walrus aims to provide a dynamic, verifiable, and programmable storage solution that goes beyond traditional storage limitations. The platform enables any application to publish, read, and program data files using Move-based smart contracts.
Key Benefits of Walrus:
- Secure and Decentralized: End-to-end encryption ensures data privacy and security, while decentralization eliminates single points of failure.
- High-Performance: Optimized for high-speed read and write operations, making it suitable for a wide range of applications.
- Programmable Storage: Enables developers to build custom storage solutions using smart contracts.
- Cost-Effective: Offers reasonable costs for storing gigabytes of data.
- Reliable: Designed to ensure data accessibility, even in challenging circumstances.
Walrus envisions a future where storage is more than just storing data; it's about making it dynamic, verifiable, and programmable. Potential use cases include:
- Media Storage: Storing large media files like video, music, and images.
- AI Datasets: Providing live, streaming data and training data for AI applications.
- Decentralized Websites: Hosting static and dynamic websites viewable on any browser.
- Blockchain History: Storing ledger data from Sui and other blockchains as archival repositories.
Investor Quotes:
Adam Goldberg, co-founder and managing director at Standard Crypto, stated, "We’ve been backers of Mysten Labs since the very beginning and, inspired by their ability to transform research breakthroughs into breakout products, we’re thrilled to deepen our partnership through a new investment in Walrus."
About Walrus Foundation:
Walrus Foundation is dedicated to building a next-generation decentralized storage protocol designed for unstructured data and rich media content. By leveraging the Sui blockchain, Walrus aims to provide secure, efficient, and programmable storage solutions for a wide range of applications.
About Standard Crypto:
Standard Crypto is a venture capital firm focused on investing in the most promising companies and protocols in the crypto space. With a deep understanding of the technology and the market, Standard Crypto is committed to supporting innovative projects that are shaping the future of finance and the internet.
About Mysten Labs:
Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose mission is to create foundational infrastructure for Web3. Mysten Labs is the creator of the Sui blockchain.
Compiled by CMO Intern team
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