Recently, there has been a major development in the storage track. Walrus, with its breakthrough technology and ecosystem potential, completed a $140 million funding round, with its valuation soaring to $2 billion, making it a new favorite among investors in this sector.

This round of funding was led by Standard Crypto, with top institutions like a16z crypto and Franklin Templeton participating. Interestingly, most of the investors are early supporters of Mysten Labs, forming a community of shared interests. Why are capital markets so optimistic about it? The core reasons are threefold: Red Stuff encoding technology balances cost and security; programmability opens up imaginative application spaces; and data controllability directly unlocks the enterprise market.

As a new layout by Mysten Labs following Sui Network and DeepBook, Walrus fills the storage gap in the Sui ecosystem. More importantly, WAL, as the ecosystem token, has a clear value capture mechanism and is expected to become a new benchmark in this sector. Endorsement from professional capital has laid a solid foundation for its subsequent ecosystem expansion.