Sui Foundation invests $30 million in DATA Network as protocol retires its blockchain to migrate to Sui
Sui Foundation commits $30M to DATA Network, which will shut down its independent chain and move its AI training data registry Trace to Sui with Walrus as storage layer.
Why it matters
The migration brings a live AI data registry with millions of daily receipts onto Sui, potentially driving recurring network activity. DATA Network's decision to abandon its own chain reflects a broader trend of projects opting for established layer-1 infrastructure over maintaining independent validator sets and tooling.
Key facts
Sui Foundation committed a $30 million investment in DATA Network on October 12, 2026
30,000,000 USDReported by Bitcoin Insider
DATA Network will retire its independent blockchain and migrate to run natively on Sui
Reported by Bitcoin Insider
Trace registry has registered more than 250 million verifiable receipts and processes over three million daily receipts
250,000,000 receiptsReported by The Daily Hodl
Walrus will become the default storage layer for applications operated by DATA Foundation
Reported by The Daily Hodl
No migration date has been announced; the current chain remains operational until the upgrade completes
Reported by Crypto.News
SY Lee, CEO of PIP Labs, is joining the Sui Foundation as a strategic advisor
Reported by Unchained
DATA token traded near $0.21 with a market cap of roughly $75 million as of October 12, 2026
0.21 USDReported by Unchained
What happened
The Sui Foundation announced a $30 million investment in DATA Network on October 12, becoming its largest institutional holder. DATA Network, formerly known as Story Protocol, will retire its standalone blockchain and migrate its AI training data protocol to run natively on Sui. The project's Trace registry, which has recorded more than 250 million verifiable receipts and processes over three million daily receipts, will join the Sui ecosystem. Walrus, a decentralized storage platform anchored on Sui, will become the default storage layer for DATA Foundation applications. Existing DATA tokens will migrate at a 1:1 ratio with vesting schedules and governance rights preserved. No migration date has been set; the current chain remains operational until the transition completes. SY Lee, CEO of PIP Labs, is joining the Sui Foundation as a strategic advisor, according to Unchained.
How the story developed
- First report
First report by Bitcoin Insider
Sui Foundation Puts $30 Million Into DATA Network as AI Protocol Moves to Sui Chain
- Official statement
Sui Foundation and DATA Foundation announce partnership and $30M investment
Official announcement that DATA Network will migrate to Sui, retire its blockchain, and integrate Trace registry with Walrus storage
- Independent corroboration
Independently corroborated by Crypto.News
Sui invests $30M as DATA Network shuts down its blockchain
- Update
Story Protocol rebrands to DATA Foundation and pivots to AI training data
Project formerly known as Story Protocol launched Trace registry in June 2026 and shifted focus from intellectual property licensing to AI training data
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 12 Oct 2026, 02:07 UTC: Bitcoin Insider — 1 independent source, 1 reports
- 12 Oct 2026, 03:04 UTC: The Daily Hodl — 2 independent sources, 2 reports
- 12 Oct 2026, 03:05 UTC: Brave New Coin — 3 independent sources, 3 reports
- 12 Oct 2026, 03:08 UTC: Bitcoin Insider — 4 independent sources, 5 reports
- 12 Oct 2026, 04:23 UTC: Crypto.News — 5 independent sources, 6 reports
- 12 Oct 2026, 04:47 UTC: CryptoPotato — 6 independent sources, 7 reports
- 12 Oct 2026, 05:15 UTC: Cointelegraph — 7 independent sources, 8 reports
- 12 Oct 2026, 07:17 UTC: TheNewsCrypto — 8 independent sources, 9 reports
- 12 Oct 2026, 09:44 UTC: Unchained — 9 independent sources, 12 reports
Affected entities
Original sources
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