What You Should Know:
- Textile and 3Box Labs have completed a merger in an all-stock agreement.
- Both companies have backing from key VC firms: USV, CoinFund, and Multicoin.
- They are focused on building solutions for the emerging market of AI agents.
Two well-established companies in the crypto data storage space, Textile and 3Box Labs, known for their work with Ceramic, have merged in an all-stock deal. CoinDesk has confirmed this news.
The merged entity will continue to operate under the Textile brand, keeping both their existing staff and product lines centered on data infrastructure. CEO Andrew Hill will lead the newly formed company.
Michael Sena, co-founder of 3Box Labs, stated, “We came to the conclusion that the future we’re building toward is an identical one,” highlighting the companies’ overlapping visions. They both aim to provide solutions that enable individuals and companies, especially AI agents, to leverage permissionless blockchain technology for data management.
AI agents, which are bots utilizing artificial intelligence to make decisions autonomously, represent a growing interest in the crypto industry. As their presence expands, the demand for reliable and efficient data management becomes increasingly crucial.
Textile seeks to position itself as a leader in this arena by developing an ‘intelligence layer’ for this multi-agent economy. Andrew Hill added, “It’s pretty clear that our sweet spot of expertise — how to move, store, share verifiable data on crypto rails — is becoming very relevant to agent builders.”
With the rapid evolution of AI and its potential applications in trading and beyond, the merger aligns with the growing momentum and excitement within the space.
