Walrus Foundation raises $140M in a token sale led by Standard Crypto, valuing WAL supply at $2B

Mysten Labs/Walrus

The Walrus Foundation, which backs the storage network Mysten Labs developed, sold $140M of WAL tokens to investors a week before mainnet. The sale valued the full token supply at $2B. Mysten CEO Evan Cheng pitched Walrus as faster and cheaper than older decentralized stores such as Filecoin and Arweave.

• Led by Standard Crypto, with a16z crypto, Electric Capital and Franklin Templeton Digital Assets.
• Cheng said older decentralized stores are either too slow or too costly, and cannot be programmed by apps.
• The round came together in about three weeks, according to Cheng.