Irys is developing the world's first programmable datachain, a layer 1 platform designed to modernize the $3 trillion global data economy by integrating a high-performance data layer with native smart contract execution, enabling data to generate value through licensing, monetization, and access controls.

This platform's technical advantages include allowing smart contracts to read, modify, and act on stored data natively, facilitating automated licensing, verifiable AI training, and programmable intellectual property rights—capabilities that are not possible on existing blockchains.

The project is backed by CoinFund, a venture capital firm focused on blockchain infrastructure, which led a $10 million Series A funding round, increasing Irys's total funding to $20 million since 2024.

The funds will be used to expand infrastructure, grow the team, form strategic partnerships, and accelerate adoption ahead of the mainnet launch, demonstrating strong investor confidence.

Irys has gained significant traction with over 80 strategic partners focused on AI, processed more than 600 million data transactions, and has over 4 million active daily wallets, making it a key player in the AI data economy.

The platform offers technical advantages such as infinite data capacity and a pricing model based on physical storage costs rather than token volatility, appealing to revenue-generating companies.

Irys's architecture simplifies implementation for developers using EVM-compatible tools, reducing integration time from months to hours and addressing legacy infrastructure pain points.

CEO Josh Benaron highlighted that current systems do not allow data creators to benefit financially from their content, while AI companies and enterprises profit from large datasets without compensating the original creators.

Positioned as the foundational infrastructure for the AI economy, Irys offers a unified, programmable data platform that streamlines integration with familiar EVM-compatible tools, making it accessible for developers.

Einar Braathen of CoinFund compared Irys to the 'AWS moment' of the onchain data economy, emphasizing its role in creating a unified infrastructure where data is programmable and actively generates value.

Irys aims to be the backbone of the AI data economy, simplifying implementation and reducing development time, thus enabling a more efficient and scalable data ecosystem.