Web3 storage has been quite interesting lately. The Walrus project has gained popularity, backed by the Mysten Labs team, with a funding of 140 million USD and a valuation of 2 billion dollars. The numbers sound impressive, but the key isn’t the funding itself, rather how this project is being developed.

The storage track previously had a problem: most projects focused solely on perfecting the technology—such as encoding schemes and redundancy designs. But Walrus is different; they are building a complete ecosystem. Using the Sui public chain as infrastructure, and leveraging AI and RWA as value anchors, they integrate various roles like the public chain ecosystem, developers, asset parties, and node operators, ensuring each party benefits.

The advantages of this approach are clear. First, the technical architecture can seamlessly integrate with the Sui ecosystem, reducing developer onboarding costs. Second, the incentive mechanism is finely tuned—node operators receive stable income, asset parties gain security guarantees, and customers enjoy compliant, professional services. These three parties’ interests are aligned, forming a self-reinforcing closed loop.

From another perspective, this isn’t just about building a storage project; fundamentally, it’s redefining the value distribution rules of storage protocols. The true competitive edge lies in balancing interests and fostering value co-existence among multiple stakeholders. If this approach proves successful, it could become a new benchmark in the storage track.