Walrus Foundation Completes $140M Fundraise Through WAL Token Presale, Led by Standard Crypto

BlockBeats News, March 20th, According to official sources, the Walrus Foundation announced today that led by Standard Crypto, with participation from a16z crypto, Electric Capital, Creditcoin, Lvna Capital, Protagonist, Franklin Templeton Digital Assets, Karatage, RW3 Ventures, Comma3 Ventures, and The Raptor Group, a $140 million private round token sale will be conducted. The Walrus Foundation intends to use this funding to expand and maintain a decentralized data storage protocol and application development platform.

The Walrus mainnet is scheduled to launch on March 27th, bringing new possibilities for data storage and utilization, including AI datasets, rich media files, websites, and blockchain history, furthering its mission to transform storage into programmable resources.

Walrus was initially developed by Mysten Labs and is a decentralized storage platform built on Sui, allowing any application to publish, read, and program large data files. Applications on Walrus can manage on-chain and off-chain data files (referred to as blobs) through Move-based smart contracts, ensuring data is supported throughout the storage lifecycle.