Coindesk learned that two veterans of Coindesk’s Crypto data storage sub-sector Textiles and 3Box Labs have been merged into an all-share deal.
The two companies will operate under the textile brand and retain their personnel and a product line centered on data infrastructure. Textiles CEO Andrew Hill will be responsible for the merged organization.
3box Labs co-founder Michael Sena said that self-described as a “friendly competitor”, Textiles and 3box Labs raised funds from the same venture capital firm and provided overlapping products. Between them, the company has grow up exist At least $ 42 million Since 2019.
“We came to the conclusion that the future we are going to build is the same,” he said in an interview.
That future is the future where people, companies, and especially AI agents rely on permissionless blockchain tracks for data storage, access and verification. Cheap and easy-to-use data storage is a common technical pain point, and some cryptocurrency proponents say tokenized economies can improve.
As textiles see, the sharp rise in AI is bringing a bigger spotlight to the subsector. Agents – AI-powered robots that can make decisions and act to pursue goals – are one of the biggest obsessions of cryptocurrencies with the potential for trading.
However, all of these agents need data to resolve their decisions. That’s where the newly added textile sees its opening. It will construct what the press release calls the “intellectual layer as the intelligence layer of the multi-agent economy.”
“It’s obvious that our best expertise – how to move, store, share verifiable data about cryptocurrencies – is very relevant to agent builders,” Hill said.
He said blockchain provides a natural platform for agents: they speak the “universal language” of this technology-driven world. Textile is building a blockchain network where agents can interact, access data and even sell alpha.
Of course, the AI minds in the crypto industry have not yet figured out which agents are best for doing. Many builders are trying many different things. Hill said the momentum was high and the progress was rapid.
