Sui Foundation invested 30 million USD in the AI data protocol DATA

The Sui Foundation invested 30 million USD in the AI training data protocol DATA Network as part of a strategic partnership between the two parties. The DATA Foundation stated to The Block that the Sui Foundation will become the largest institutional holder of the network, with existing stakeholders including PIP Labs and the DATA Foundation.

According to the statement, the DATA Network will upgrade to a protocol natively running on Sui, and its independent chain will be retired, with existing DATA tokens migrating to Sui at a 1:1 ratio. The existing network will continue to operate until the transition is complete, and the foundation stated that a detailed timeline will be announced before the upgrade. The on-chain data storage platform Walrus will become the default storage layer for applications operated by the DATA Foundation and will integrate with the Sui tech stack.

In June, the DATA Foundation shifted its focus from general intellectual property infrastructure to AI training data. Its application Trace launched in the same month to track the sources and usage rights of AI training data and to settle payments to contributors. The statement noted that the Trace registry has recorded over 250 million contributions since its launch, currently processing more than 3 million receipts daily.