The Web3 storage sector has been somewhat quiet over the past two years, with veteran players like Filecoin and Arweave almost monopolizing the conversation. Until the Sui ecosystem suddenly introduced a new player—Walrus, which raised $140 million and is valued at $2 billion, instantly stirring up the entire industry.

But this is not just another hype project. Behind it is Mysten Labs (the creator of Sui) personally incubating it, with a clear strategy from the start: not only to fill the storage gap in the Sui ecosystem but also to reshape the entire business logic of Web3 storage through innovative directions such as programmable storage, RWA asset on-chain, and ecosystem collaboration.

By examining the technical white paper, following the funding chain, and researching practical applications, the underlying logic is quite clear—this project's rise is no coincidence. Whether it's technological innovation breaking storage constraints, capital leverage driving ecosystem growth, or proactive compliance and risk prevention, each step points to the same ultimate conclusion. In the four dimensions of strategy, technology, capital, and compliance, Walrus has its own rhythm.

Especially in a storage industry increasingly plagued by homogeneity, it is worth paying attention to how this project uses programmable storage to differentiate itself in competition, and how turning RWA assets on-chain can become practical applications.