We create massive amounts of data every day—through social sharing, video browsing, and map navigation. We are the original creators of this data, but in a global data economy valued at $30 trillion, even holding just 1% of the market share equates to hundreds of billions. But how much value do creators actually receive?
The vast majority of data creators are like 'tenants' in the digital world, working diligently while most of the value fruits are taken by the platforms, the 'landlords'. A huge 'value gap' exists between creators and the value they generate.
Irys is attempting to challenge this injustice; its grand goal is to become the AWS (Amazon Web Services) of the decentralized world and fundamentally establish a new set of rules that truly return data value to the creators.
For example, a photographer uploads their high-definition works to Irys. They can set a smart contract rule: any user pays 0.1 tokens, and the system automatically sends access to the unwatermarked original image to that user. The entire process is fully automated, requiring no manual confirmation of payment or file sending. The photographer's work, i.e., their data, becomes a 'smart asset' that can autonomously generate revenue and automatically execute rules.
This is the charm of 'data programmability', which brings incredible efficiency and cost advantages. Compared to mainstream decentralized storage solutions like Filecoin, Irys's storage costs are 20 times lower and it enables instant data retrieval.
➤ Given such a grand vision, has it been market-validated?
First is the endorsement of top capital. On August 21, Irys completed a $10 million Series A financing led by top venture capital Coin Fund, bringing the total financing amount to $20 million. This investment is not only financial support but also an authoritative endorsement of its technological strength and market prospects from top institutions. The late entry of institutions acts like a powerful catalyst, quickly eliminating early uncertainties of the project.
Next is the comprehensive bet on leading business applications. Several companies with annual revenues in the tens of millions or even over $100 million have chosen Irys as their underlying infrastructure:
🔹Aethir: Decentralized GPU network with an annual revenue of $36 million.
🔹Metaplex: NFT infrastructure with an annual revenue of up to $137 million.
These profit-making companies have cast the most valuable vote of trust in Irys's technology and commercial viability through their core businesses, and successful business cases have attracted more projects to join, with the ecosystem beginning to cycle positively.
➤ Conclusion: The path to a future of data democratization
The story of Irys is not only about technological innovation and market opportunities; it profoundly reveals the next key evolutionary direction in the digital age: the redefinition and distribution of data value. From centralized monopolies to decentralized empowerment, it envisions a future of data democratization and value return.
The core value of Irys lies in its precise capture of the tremendous opportunities where the value of creators in the vast data economy has yet to be fully realized. Strong endorsements from top institutions, verified leading business models, and a disruptive grand vision are expected to become the key entry points into the future creator economy.
