The Walrus Protocol, a blockchain-based data storage platform, said it has collected $ 140 million in a private sale of its native token, WAL, led by Standard Crypto.
The Protocol’s Mainnet, originally developed by MySten Labs and built on the Blockchain Suis Layer-1, will make its debut on March 27, announced the Walrus Foundation on Thursday.
Walrus plans to capitalize on the growing market to store large amounts of data, in particular by the proliferation of artificial intelligence tools (IA) in the past two years.
“By taking advantage of the single architecture of Sui, we are storage of programmable, interactive and secure data,” said Rebecca Simmonds, director general of the Walrus Foundation Foundation, in the press release.
The funds for the sale of tokens, which included the participation of A16Z Crypto, Electric Capital, Franklin Templeton Digital Assets and RW3 Ventures, will be used to extend the project to storage decentralized data and create other applications at the top of IT.
