Catenaa, Monday, March 31, 2025-The Walrus Foundation has secured $140 million in funding from investors, including Standard Crypto and Andreessen Horowitz, to develop a decentralized storage network aimed at outperforming competitors like Filecoin and Arweave.
Walrus, still in beta, was launched on March 27 alongside a web-hosting service built on the protocol.
The investment, raised through a sale of the blockchain’s native cryptocurrency, $WAL, values the Walrus protocol at $2 billion.
Mysten Labs, known for developing the Sui blockchain, designed the protocol to provide faster and cheaper decentralized storage solutions.
Mysten Labs CEO Evan Cheng emphasized the protocol’s speed and efficiency, claiming existing decentralized networks are either too slow or costly.
Unlike traditional centralized services like Google Cloud, Walrus ensures stored files cannot be deleted by any single entity.
