In my eyes, Irys @irys_xyz: it's not just about storing things.
Irys, formerly known as Bundlr Network, has now upgraded to a Layer-1 chain specifically for data. What attracts me the most is its ability to turn data from "dead" to "alive."
Simply put, storing data on Irys not only allows for permanent preservation (like Arweave), but also enables setting rules for the data through smart contracts. For example, if you have an AI dataset, every time someone uses it, you can automatically earn a share of the profits. This idea is indeed quite cool.
Funding amount?
The funding has gone smoothly: in August this year, it just secured $10 million in Series A funding, bringing the total to nearly $20 million. The fact that they can still raise money in this market environment indicates that capital is optimistic.
Tokens are on the way: the mainnet has not officially launched yet, and the token (TGE) is expected to be released in the fourth quarter of this year, so it’s worth keeping an eye on.
Personal opinion:
The idea is very cutting-edge. If it can really integrate data storage and value realization on a single chain, it will be very competitive, especially suitable for AI data and creator economy sectors;
But also be aware:
Ecosystem building is a tough battle that requires time and luck; "permanent storage" may face challenges from privacy regulations; currently, it is more suitable for storing important data and not very suitable for high-frequency trading.
Overall, Irys is the kind of "thoughtful" infrastructure project that I will continue to pay attention to. It is not just competing in existing fields but trying to carve out new battlegrounds. If the ecosystem can be developed, the potential is significant. @cn_irys_xyz
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