A16z-backed DATA shifts strategy, moves to Sui after $30M investment

A16z-backed DATA — A16z crypto-backed startup DATA, formerly known as Story Protocol, is retiring its own blockchain and moving its operations to Sui following a $30 million investment from the Sui Foundation.

The company is narrowing its focus exclusively to AI training data, shifting from its original broader mission to manage all forms of intellectual property on-chain. CEO Andrea Muttoni stated the pivot came after finding established licensing markets were difficult to disrupt.

The investment from Sui will allow DATA to concentrate on developing its core data verification tools rather than maintaining its own blockchain infrastructure. DATA’s ‘Trace’ registry tracks the origins, consent terms, and licensing history of data used for training artificial intelligence models.

The startup is now partnered with Kled, which adds millions of data contributions to the Trace registry daily. This strategic move highlights a continuing trend of specialized blockchain projects consolidating onto more established, scalable networks.