Sui Foundation invests $30 million in AI data protocol DATA

The Sui Foundation announced a $30 million investment in DATA Network, an AI training data protocol, in a move aimed at deepening strategic cooperation between the two parties. The DATA Foundation revealed to The Block that the Sui Foundation will be the largest institutional holder of the network, with current major participants including PIP Labs and the DATA Foundation. According to the statement, DATA Network will be transformed into a protocol natively deployed in the Sui ecosystem, its independent chain will cease to operate, and existing DATA tokens will be migrated to the Sui chain at a 1:1 ratio. The existing network will remain operational during the transition period, and the foundation promises to announce the specific time schedule before the upgrade is launched. At the same time, Walrus, the on-chain data storage platform, has been confirmed to belong to the DATA Foundation.