Textile and 3Box Labs Merge to Enhance Decentralized Data Solutions
Textile and 3Box Labs have merged in an all-stock deal, with the combined entity operating under the Textile brand. Key details include:
- Textile CEO Andrew Hill will lead the merged organization.
- The companies raised over $42 million since 2019 from shared VC firms.
- They aim to create a platform for data storage, access, and verification using blockchain technology, particularly for artificial intelligence agents.
- Textile plans to develop an "intelligence layer for the multi-agent economy".
- Blockchain will serve as an operational foundation for AI agents to interact and share data.
This merger highlights the increasing relevance of decentralized data solutions in the context of AI advancements.