After spending some time in the Web3 storage space, you must have noticed a phenomenon: many projects just emerge and immediately start selling capital stories and technical packaging. The excitement is there, but truly practical projects are few and far between. When Walrus first appeared, many people's instinctive reaction was "Another project backed by big names, relying on fundraising to inflate valuation"—$140 million private round, $2 billion valuation. Those numbers can indeed be impressive.

But if you take a closer look at how it actually operates, you'll find that the approach is completely different. This project isn't playing the game of "following the trend and competing in the same space"; instead, it has developed a solid, differentiated strategy. Every step targets real pain points in the market—avoiding direct competition with top storage projects while carving out its own moat.

Don't be fooled by those technical terms and funding news. Let's look directly at what the project team is doing—by examining how they choose application scenarios, how they layout their technology, and how they build their ecosystem, you'll see why they can stand firm in a crowded field of giants. The following content mainly discusses the project's actual data and operational logic. I won't talk about superficial stuff; instead, I'll clarify the underlying principles and help you identify key indicators for evaluating such projects. This is a straightforward, detail-oriented chat about the work, not some cold, formal article tone.

**Scenario Selection: Avoid grand ambitions, focus on the most profitable tasks**

Storage projects that start by claiming "I want to cover all scenarios" usually end up stuck in a low-price competition dead end. The smartest thing about the Walrus team is that they gave up the illusion of "big and comprehensive" from the very beginning. Instead, they focus intensely on the most valuable and sticky application scenarios. This concentrated approach determines their entire subsequent ecosystem operation logic.