The $30 million investment from Sui Foundation into DATA Network combines financial support with a blockchain migration: this AI training data protocol will be migrated to Sui, and its independent chain will be discontinued. The collaboration between the two parties will also integrate their data infrastructure into Walrus, with the goal of expanding the access of AI laboratory to licensed training materials.
Key Points
- Sui Foundation will become the largest institutional holder of DATA Network.
- DATA tokens will be migrated to Sui at a 1:1 ratio.
- Trace has recorded over 250 million contributions since its launch in June.
According to The Block, DATA Foundation states that this agreement will put Sui Foundation on par with the existing stakeholders PIP Labs and DATA Foundation. The existing network will continue to operate until the transition is completed.
Investment from Sui Foundation into DATA Network
DATA Foundation indicates that this investment will make Sui Foundation the largest institutional stakeholder in that network. This is also part of a strategic cooperation that includes the migration of the protocol to Sui, as well as integration with the on-chain storage platform Walrus.
DATA Foundation, which supports this network, will shift its focus from general intellectual property infrastructure to AI training data in June. According to this agreement, this infrastructure will be deployed on Sui instead of continuing to be maintained on a separate blockchain.
DATA Network and its token will be migrated how
DATA Network will undergo an upgrade and will operate on Sui using the native protocol. Once the migration is complete, its independent blockchain will be deactivated.
The existing DATA tokens will be migrated at a one-to-one ratio. According to a report by Crypto.news, both parties jointly stated that holders will retain at least the same economic rights and governance rights as they currently do, and the locked tokens as well as the existing ownership timelines will not be affected.
DATA Foundation plans to announce a detailed migration schedule before the upgrade and provide operation instructions for token holders.
Walrus Storage and Trace's AI Data Registration System
Walrus will become the default storage layer for the applications operated by DATA Foundation. The investment in Sui Foundation by DATA Network also supports a collaboration aimed at expanding the training data supply chain for AI, and enables the laboratory to obtain real-world materials that are licensed for its use.
The Trace registration system of this network was launched in June. It is used to record the source of training data and the rights constraints regarding its use, and it also facilitates the settlement of payments to those who provide this data.
According to the statement of DATA Foundation, since its launch, Trace has recorded over 250 million contributions and processes more than 3 million receipts per day on average.
AI Consent and Source in Training Data
Mysten Labs, Co-Founder and Chief Product Officer; Adeniyi Abiodun connects this collaboration with the need of AI developers for recordable consent and source datasets. Mysten Labs is the original contributor to Sui and Walrus.
Abiodun indicates that the AI industry has reached such a stage: the open internet has been fully explored, and the next frontier will be defined by those who possess the capability to obtain datasets with the consent and sources required by regulatory authorities.
He also stated that the data flowing through DATA Network and Trace is already providing services for the cutting-edge AI laboratory.
This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.
