Storage Protocol Walrus Sells $140M in Tokens Ahead of Mainnet Launch

Data storage protocol Walrus has raised $140 million through a token sale ahead of its mainnet launch.

The protocol's mainnet, originally developed by Mysten Labs and built on the first layer of the Sui blockchain, will launch on March 27.

Jamie Crowley | Edited by Sheldon Rebeck on 2025-03-20 17:16 UTC

Key points:

• Walrus, a blockchain-based data storage platform, raised $140 million in a private sale of its WAL token hosted by Standard Crypto.
• The project aims to capitalise on the growing big data storage sector, which has become particularly relevant in recent years thanks to the spread of AI technologies.
• The event featured companies such as A16z crypto, Electric Capital, Franklin Templeton Digital Assets and RW3 Ventures.

Blockchain-based protocol Walrus announced that it raised $140 million in a private sale of its WAL token hosted by Standard Crypto.

The protocol's mainnet, developed by Mysten Labs and built on the first layer of the Sui blockchain, will debut on March 27, the Walrus Foundation announced Thursday.

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Walrus plans to take advantage of the growing market for large-scale data storage, which has become especially noticeable thanks to the proliferation of artificial intelligence (AI) tools over the past couple of years.

“With Sui’s unique architecture, we make data storage programmable, interactive and secure,” said Rebecca Simmonds, managing director of the Walrus Foundation, in a statement.

The proceeds from the token sale, which involved a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and RW3 Ventures, will be used to expand the project's decentralized data storage protocol and develop additional applications based on it.

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