While expectations for the future of cryptocurrencies are rising, many projects continue to raise millions of dollars in funds.
In this context, investment company DWF Labs recently invested in the decentralized storage project Crust Network.
Crust Network announced on Twitter that it has received millions of dollars in investment from DWF Labs, which will be used to further develop its infrastructure and expand its business in decentralized storage.
As part of this investment, Crust Network announced that they will launch the EVM storage service, which provides decentralized storage solutions for EVM-based blockchains, on July 17.
Crust Network CTO Luke Fan said a total of 65 Web3 projects, including Uniswap and AAVE, are already using Crust for storage.
“It's great that the DWF Labs team is focusing on the upcoming Crust ecosystem and lending their expertise and capital to the launch of Crust's EVM Storage.”
Andrei Grachev, managing partner of DWF Labs, said:
“We are excited to support Crust's vision to revolutionize decentralized storage by providing a secure, scalable and interoperable platform for data storage and retrieval across multiple chains.
We are excited to add our expertise and capital to the upcoming launch of Crust's EVM Storage and to see huge potential in the 150+ projects currently being built on the Crust Network.
We look forward to seeing the continued success of Crust in Web3 Storage.”
After DWF Labs' investment news, Crust Network's token CRU rose by about 7%. CRU, which rose to $ 0.8141, continues to be traded at $ 0.8087 at the time of writing.
*Not investment advice.