Walrus Foundation’s $140M Raise: Blockchain’s New Storage Savior? 🐋

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In a world where data storage is as chaotic as a Soviet breadline, Standard Crypto has thrown $140 million at the Walrus Foundation, an organization audaciously attempting to build a decentralized storage solution on Sui. Because, of course, what the world needs is another blockchain-based platform. 🚀

The Walrus protocol, currently in testnet, promises to be the savior of data storage—or at least that’s what the press release claims. The funding, raised through a private token sale, will allegedly help Walrus scale its network on Sui (SUI). Because nothing says “scalability” like a blockchain named after a French pronoun. 🇫🇷

“This investment is a significant milestone to redefine decentralized storage. By leveraging Sui’s unique architecture, we’re making storing data programmable, interactive, and secure,” said Rebecca Simmonds, managing executive of Walrus Foundation, with the confidence of someone who’s never lost a USB drive. 💾

Simmonds added that Walrus plans to capitalize on the rising demand for programmable storage. Because who doesn’t want their storage to be… programmable? 🤔

The Sui-based platform, developed by Mysten Labs, is apparently gaining traction. Developers and projects are flocking to it like seagulls to a chip, eager to tap into its solution for on-chain and off-chain data management. Walrus allows any application to publish, read, and program data files using Move-based smart contracts. Because why settle for boring old storage when you can have smart contracts? 🧠

Walrus claims to combine storage, availability, and decentralized computing, offering a solution that “vastly improves” on legacy storage systems. Because, as we all know, legacy systems are the Soviet Union of data storage—inefficient, outdated, and prone to collapse. 🏚️

According to the Walrus team, storage isn’t just about storing data—it’s about being “dynamic, verifiable, and programmable.” Because apparently, storing your cat videos on the blockchain is the future. 🐱

“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,” said Adam Goldberg, co-founder and managing director of Standard Crypto, with the enthusiasm of someone who’s just discovered a new crypto meme. 🐸

Walrus’ $140 million raise also attracted several top crypto venture capital firms, including a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and Comma3 Ventures. Because when the walrus calls, the crypto world answers. 🐋

In addition to the funding news, Walrus Foundation revealed that the Walrus protocol’s mainnet is set to go live on March 27, 2025. Mark your calendars, folks—the future of storage is coming, and it’s got tusks. 🗓️

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2025-03-20 19:13