Walrus Crypto ($WAL), a new initiative by Sui creators at Mysten Labs, is focused on decentralized data storage for AI and machine learning. Many crypto projects seem to adopt animal names — why is that?
The project launched its mainnet on March 27 after securing a significant funding round of $140 million, establishing it as a major player at the intersection of blockchain and AI.
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What is Walrus Crypto?
Walrus Crypto innovates data storage through decentralization. It aims to provide secure management for sensitive corporate data and AI-related files, shielding them from centralized vulnerabilities.
This approach is critical for the AI sector, where companies seek to utilize data for modeling without exposure risks.
“Walrus stores data privately, securely, and in a decentralized way. Filecoin can’t do this. Yet it’s a $2 billion project…” tweeted the Walrus team. “We want to prevent centralization and the abuse of data, especially in AI.”
Walrus has already forged significant partnerships:
- Plume Network: A platform concentrating on verifying real-world assets (RWA) using Walrus for data storage compliance.
- TradePort: This multichain NFT trading platform operates a Walrus validator to secure NFTs and other digital assets.
- Linera: Partnering with Walrus, this Layer 1 blockchain aims to enhance its data storage security and scalability.
Mysten Labs’ $140 million funding, despite difficult market conditions, highlights the confidence from investors like Franklin Templeton, a16z crypto, and Standard Crypto. Riding on Sui’s momentum, Walrus could help Sui rise ahead of Ethereum and Solana.
