BTC $83,902 
ETH $2,562 
USDT $0.9991 
BNB $753.30 
XRP $1.41 
USDC $0.9997 
SOL $112.41 
TRX $0.3323 
FIGR_HELOC $1.06 
ZEC $1,326 Sui invests $30M as DATA Network shuts down its blockchain
The AI training data protocol will retire its standalone chain and migrate to Sui following a $30 million investment from the Sui Foundation.
Key takeaways
- Largest institutional holder. Sui Foundation is now DATA Network's largest institutional investor following the $30 million investment.
- Token migration ratio. Existing DATA tokens will migrate to Sui on a 1:1 basis with no changes to vesting schedules.
- Trace registry scale. DATA Network's Trace registry has registered over 250 million contributions and processes 3 million daily receipts.
What happened
On October 12, 2026, the Sui Foundation announced a $30 million investment in DATA Network, the AI training data protocol formerly known as Story Protocol. As part of the strategic partnership, DATA Network will retire its standalone blockchain and migrate all operations to the Sui ecosystem. The project's Trace registry, an on-chain system for AI training data provenance and licensing, will join Sui, while decentralized storage platform Walrus will become the default storage layer for DATA Foundation applications.
The migration will use a one-to-one token conversion, meaning every existing DATA token will be exchanged for an equivalent token on Sui. All existing vesting schedules and governance rights for token holders will remain unchanged, and the current DATA Network will stay operational until the transition is fully complete. The organizations have not yet set a specific migration date, but plan to release a detailed timeline and holder transition guide before the upgrade begins.
The partnership also includes a new advisory role for SY Lee, chairman of Poseidon and CEO of PIP Labs, who will join Sui Foundation as a strategic adviser. Lee was a key developer of the original Story Protocol, which rebranded to DATA Foundation in June 2026 when it shifted its focus from intellectual property licensing to building a full stack for AI training data. The Trace registry, launched alongside the rebrand, has already registered more than 250 million contributions and processes over 3 million daily receipts.
Why it matters
The move marks a significant shift for DATA Network, which previously operated its own independent blockchain to support AI training data sourcing, tracking and licensing. By migrating to Sui, the project will leverage Sui's infrastructure to handle millions of daily data registrations, while Walrus's decentralized storage will support large AI training datasets. The partnership also makes Sui Foundation the largest institutional holder of DATA Network, though the exact valuation of the investment and the number of tokens acquired have not been disclosed.
What is still unclear
- The exact valuation of Sui Foundation's $30 million investment, the number of DATA tokens it received, and the full financial structure of the transaction have not been disclosed.
- It is also unconfirmed whether the full $30 million investment has already been transferred to DATA Network.
- No specific date for the blockchain migration has been announced, with only a promise to publish a timeline before the upgrade begins.
Questions readers ask
Will my DATA tokens be affected by the migration to Sui?
No, existing DATA tokens will migrate to Sui on a 1:1 basis, with all vesting schedules and governance rights preserved for holders.
What is the Trace registry?
Trace is an on-chain registry launched by DATA Network in June 2026 to track provenance and licensing for AI training data. It has registered over 250 million contributions and processes more than 3 million daily receipts.
When will DATA Network shut down its independent blockchain?
No specific migration date has been announced yet. DATA Network will remain operational until the transition is complete, and a detailed timeline will be published before the upgrade begins.
