Introduction

The data storage market is vast, and major platforms regard data as a valuable asset. In the past, the data storage sector in on-chain projects has brought good returns, especially in recent years when AI development has flourished. These data are the fuel for AI machine learning growth, such as Walrus, Story, Filecoin, and Arweave have good airdrop returns.

As a one-stop data storage platform, IRYS is known as the "on-chain version of AWS" due to its flexibility and powerful computing capabilities. The programmable data network brings greater imagination to storage development. IRYS is about to announce new financing and the mainnet launch. This article will provide readers with a comprehensive understanding of IRYS's competitive advantages and potential, and introduce the current recommended interaction strategies. Come and see what other interaction opportunities are available to ambush the potential airdrop of the next storage facility!

What is IRYS? IRYS Development History & Revenue Model

IRYS is a programmable data storage platform that integrates low-cost storage, high-performance computing, and AI-collaborative L1 blockchain networks. It was originally established in the Arweave ecosystem in 2021 as Bundlr Network, helping users upload data more efficiently, improve network throughput, and solve the original problems of slow Arweave transaction speeds, high costs, and insufficient support for dynamic data. To date, it has processed more than 1 billion transactions, accounting for more than 95% of the ecosystem's transaction volume.

Bundlr Network officially changed its name to IRYS in 2023 and transformed into a programmable L1 data chain, upgraded to a comprehensive data infrastructure. Its core function is to provide data storage for users. Developers can directly execute instructions on the chain, allowing data to effectively participate in economic activities, be called in real-time, and shared seamlessly, solving the problem of traditional data bloat. Through its efficient storage architecture and programmable features, IRYS is gradually becoming a more cost-effective and competitive storage solution.

IRYS has diversified sources of income. As a To B project, it charges storage and computing fees from the enterprise side. Companies such as SCAI, Wharton Protocol, and Plena Finance have established cooperation with IRYS, which is expected to bring hundreds of millions of dollars in revenue. After the IRYS token is issued in the future, it will be used for storage fees, execution Gasfee, and ecological rewards. Introducing more and more AI and Web3 applications can bring many stable cash flows, allowing IRYS to turn the cost of data storage into production data and occupy a place in the data market.

IRYS Project Features: On-chain version of AWS Storage Network

IRYS bundles computing, storage databases, and access management into a one-stop service, allowing developers to focus on building Dapps on the platform without going through the underlying management infrastructure, bringing high-performance computing and scalable storage services like AWS to Web3, hence it is known as the "on-chain version of AWS".

IRYS supports permanent storage and temporary storage solutions. The price is stable and not affected by Gas, and it is also much cheaper than traditional storage solutions. Permanent storage permission only costs $2.5.

IRYS's target market is aimed at the developer community, providing convenient tools and tutorial documents to allow newcomers to get started quickly. Various hot fields such as NFT, AI construction, DePIN, and RWA are increasingly demanding data storage and computing, bringing unlimited business opportunities for IRYS's future development.

IRYS Competitive Analysis

In the Web3 storage track, IRYS faces multiple competitors, but it stands out due to its programmability and one-stop design. The following table lists the differences between IRYS and its competitors:

Project Architecture and Positioning, Storage Model, Cost, Application Scenarios, Advantages, Disadvantages and Limitations, IRYS, Layer-1 programmable data chain, integrates storage, computing and AI coordination, permanent or temporary (one-time payment), low cost (~2.5 USD/GB permanent), AI data processing, DeFi real-time risk control, NFT dynamic computing, not yet TGE, market value unknown, Filecoin, IPFS-based decentralized storage network, temporary (up to 540 days, renewable), medium cost (depends on FIL token mining and storage fees), large-scale file storage, mining income, slow retrieval, renewal risk, no programmability, Arweave
Permanent storage protocol, permanent (one-time payment), medium (~5 USD/GB), NFT metadata, cultural heritage preservation, not suitable for dynamic data, lack of computing layer, Story Protocol, intellectual property storage protocol, permanent (metadata + external content), medium (focusing on copyright), IP storage, authorization management, non-universal storage, depends on external content, Walrus, Sui ecological modular storage layer, temporary (up to ~2 years, renewable), high cost
(Lease Model) Sui dApp storage renewal risk, relies on Sui consensus

As can be seen from the above table, IRYS not only leads in programmability and cost-effectiveness, and avoids the risk of data loss by eliminating renewal fees. IRYS is also a complete L1 blockchain that is more suitable for AI coordination, supports unlimited storage and flexible authorization, and provides a scalable and persistent on-chain data layer. It has a unique competitive advantage in the data economy!

IRYS Team Financing Background

The IRYS team was founded in 2021 by Josh Benaron and others. It started with the Bundlr Network name and accumulated deep technical strength in the Arweave ecosystem. The team members are all from top institutions such as Framework Ventures and Hypersphere, including professionals in engineering and marketing operations. The vision is to transform static data into programmable assets through IRYS.

IRYS has completed two rounds of financing totaling $8.9 million, led by well-known VCs such as Framework, Primitive Ventures, and Hypersphere. These funds have helped IRYS expand its early testnet development. Recently, official sources have also revealed that a new round of financing is about to be announced, targeting Walrus' valuation of $2 billion and Story's valuation of $5 billion, IRYS's potential valuation is very impressive.

IRYS Testnet Interaction Strategy

IRYS launched a testnet and faucet in March of this year, and provided various types of games for interaction. Subsequently, it gradually opened official task platforms, NFT minting and other activities. There are still many opportunities to complete tasks on the testnet. The following will explain the existing interaction channels one by one.

1. Test Token Claim

First, connect the EVM wallet to the IRYS faucet, you can add the IRYS network and receive $IRYS test tokens for interaction every day.

2. Official Task Platform

IRYS Portal's QuestLand has many tasks, including playing games, interacting, social tasks, etc. After completing them, you can get a lot of EXP points, which will be one of the basis for airdrops in the future.

3. NFT Protection

IRYS has issued an official NFT on Omnihub. You can use the test Gasfee to mint and increase the interaction record. Users can also create their own NFTs to issue. Do more different interactions to protect yourself and increase the chance of airdrops.

NFT Minting

NFT Creation

4. Game Interaction

IRYS's official game platform launched a snake game. You can spend 0.001 $IRYS to participate in the game every day. According to different scores, you can get more test tokens. The game is also a key interaction step in the IRYS testnet.

5. Lofty Data Upload

Lofty is the official data adoption platform of IRYS. Users can upload files to the platform and share the experience of IRYS storage with others. For users who actually participate in data provision, the chance of airdrops will be greatly increased in the future.

IRYS Mouth-Lulling Interaction

IRYS has also launched the most popular mouth-lulling platform Kaito and Galxe Starboard. Users can participate in mouth-lulling by posting on social media to create and interact with IRYS. The system will automatically detect high-quality tweets and contributions. Both platforms provide clear airdrop rewards for the top 1000 creators. Don't miss this zero-cost, low-threshold interaction channel.

Conclusion: IRYS Storage Advantages Large, Last Chance to Catch Up Before TGE

IRYS demonstrates huge advantages in the Web3 data storage track, providing a permanent low-cost solution without the risk of temporary storage and renewal fees. The lrysVM programmable layer is more suitable for AI dynamic applications, and there is also an independent and complete L1 blockchain that can fill the market gap. It has great potential in AI and the data economy, and is considered by the market to have a comparable Walrus mega-airdrop!

IRYS uses data to attract services, and services can bring more data to it. This flywheel effect will breed a new storage leader. It is recommended that readers participate in the testnet interaction and mouth-lulling opportunities in this article, ambush IRYS and seize the opportunity to get a large airdrop before TGE.