Walrus Token Sale Nets $140M Funding Boost, Mainnet Launch Set on Sui
20.03.2025 20:08
Data Storage Protocol Walrus has raised $140 million in a private token sale of its native coin, WAL, backed by Standard Crypto and renowned investors including a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and RW3 Ventures. The funds will support the expansion of its decentralized data storage platform, which leverages programmable, interactive, and secure storage capabilities. Developed by Mysten Labs and built on the layer-1 blockchain Sui, Walrus is targeting the surging market for storing large data reserves spurred by the proliferation of AI tools. The protocol’s mainnet launch is scheduled for March 27, marking a significant milestone in its evolution and presenting opportunities for increased adoption and broader application development.
The successful $140M token sale, led by major institutional investors, is likely to boost investor confidence in WAL, potentially triggering a short-term price spike as market interest peaks ahead of the mainnet launch. In the long term, sustained growth in the decentralized data storage market and increased platform adoption may drive continued appreciation, although initial volatility remains a factor as the market adjusts post-launch.
Walrus being built on the Sui blockchain augments SUI's ecosystem, positioning the coin to benefit indirectly from the project's success. In the short term, increased network activity and positive sentiment could lead to an uptick in SUI's price, while long-term upward trends are anticipated if the integration fosters broader utility and adoption within the platform’s ecosystem despite potential competitive pressures.
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