Textile and 3Box Labs, both prominent players in crypto data storage, are merging in an all-stock deal. They share venture capital backers including USV, CoinFund, and Multicoin. The combined entity will focus on the emerging AI agent economy, which relies on permissionless blockchain technology for data storage and access. Textile CEO Andrew Hill will lead the new organization, which will maintain existing staff and product lines. The companies concluded that their visions aligned for the future of decentralized data management needed by AI agents, which require robust data streams to function effectively. The rise of AI has intensified interest in their sector, as the need for verifiable data becomes more critical. With plans to develop a blockchain network that facilitates data interaction among agents, the merger aims to establish a centralized system for data sharing and decision-making in the burgeoning multi-agent economy. Hill highlighted the need for agents to leverage blockchain as a platform for operations, paving the way for innovative applications and collaboration within the space.

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