Finance, Token Sale, Sui, Data Storage The mainnet of the protocol, initially developed by Mysten Labs and constructed on layer-1 blockchain Sui, will launch on March 27
The Walrus protocol, a blockchain-based knowledge storage platform, stated it raised $140 million in a non-public sale of its native token, WAL, led by Standard Crypto.
The mainnet of the protocol, initially developed by Mysten Labs and constructed on layer-1 blockchain Sui, will debut on March 27, the Walrus Foundation said Thursday.
Walrus plans to capitalize on the rising marketplace for storing massive quantities of information, pushed particularly by the proliferation of synthetic intelligence (AI) instruments within the final couple of years.
“By leveraging Sui’s unique architecture, we’re making storing data programmable, interactive, and secure,” Walrus Foundation managing government Rebecca Simmonds stated within the assertion.
The funds from the token sale, which included participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets and RW3 Ventures, can be used to increase the undertaking’s decentralized knowledge storage protocol and construct additional functions atop it.
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