Walrus Foundation Secures $140 Million for Decentralized Storage on Sui
Walrus Foundation has raised $140 million to develop a scalable decentralized storage solution on the Sui blockchain. This funding comes from a private token sale backed by Standard Crypto and other top venture capital firms.
Rebecca Simmonds,the managing executive of Walrus Foundation,stated,”This investment is a major step in redefining decentralized storage. Using SuiS architecture, we’re making data storage more interactive and secure.”
Walrus is a blockchain-based data storage platform currently in testnet. It aims to meet the growing demand for programmable storage. The platform allows applications to publish, read, and program data files using Move-based smart contracts.
Walrus combines storage, availability, and decentralized computing. This offers a critically important enhancement over traditional storage solutions. The team believes storage should be “dynamic, verifiable, and programmable,” supporting AI datasets, blockchain history, and rich media.
Adam Goldberg,co-founder of Standard Crypto,commented,”We’re excited to deepen our partnership with Mysten Labs through this investment in Walrus.”
Key investors include a16z crypto, Electric Capital, and Franklin Templeton Digital Assets. the mainnet launch is scheduled for March 27, 2025. It will provide a solution that goes beyond simple storage, enhancing data management for various applications.
