The Walrus protocol, known for its blockchain-based data storage capabilities, has successfully raised $140 million in a private sale of its token, WAL, led by Standard Crypto.

This token sale marks a strategic move by Walrus to tap into the increasing demand for efficient data storage solutions, particularly in light of the rapid expansion of Artificial Intelligence (AI) technologies in recent years.

“By leveraging Sui’s unique architecture, we’re making storing data programmable, interactive, and secure,” said Walrus Foundation managing executive Rebecca Simmonds.

Translation: “Using Sui’s distinctive structure, we are making data storage programmable, interactive, and safe.”

The mainnet for this protocol is scheduled to launch on March 27. Participation in the token sale included prominent companies such as a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and RW3 Ventures.

With these funds, Walrus aims to enhance its decentralized storage protocol and develop further applications, setting a strong foundation for future innovation in data handling.