Filmine team financing

We are very excited to announce that we received the first financial contribution this week raising over $1M dollars in value from Protocol Labs to develop Filmine - an ecosystem designed to deliver on our quest to decentralize datacenters.

We believe that the future of data is decentralized - and that building the infrastructure for that future is the key challenge of today. We are doing so by providing open source tools to datacenter operators (aka miners) to enable them to convert their datacenters to Web3 without prior Web3 expertise and with minimal or no need for additional hardware

We believe that running Web3 datacenters should be no different from running traditional datacenters and that the challenge of decentralization should be, and can be, solved with software.

Decentralizing data storage will allow our civilization to keep pace with exponentially growing demand for data storage, while also democratizing access to data through the novel token economics model provided by the Filecoin network. This new and disruptive approach provides a dual benefit of democratizing the sharing of the economic rewards of data storage on one hand, and on the other hand developing a data storage solution that will allow verified data to be stored for free, enabling humanity to equitably leverage the benefits of its most valuable resource - data.

At Alt Labs we strive to build an ecosystem from day one. Our ecosystem is composed of contributors from Alt Labs, open source contributors, datacenter operators and everyone who supports us by believing in our mission. Join us.