In a recent episode of The Rollup podcast, host Andy from @therollupco sat down with Josh Benaron, founder of @irys_xyz, to unpack what makes Irys stand out in the crowded blockchain landscape. The clip, shared on X, captures Benaron explaining the core of Irys: "We are a data chain, focused purely on how to store large amounts of data on the chain." He highlights its decentralized storage network that lets users store data for any duration at significantly lower costs, plus a virtual machine (VM) for deploying full on-chain apps that interact with that data. You can watch the full clip here.

This interview comes hot on the heels of Irys's big announcement: a $10 million Series A funding round led by CoinFund, bringing their total funding to $20 million since 2024. Other notable investors jumping in include Hypersphere, Tykhe Ventures, Varrock Ventures, Breed VC, Echo Group, Amber Group, and WAGMI Ventures. According to the press release, this capital will fuel Irys's mission to unlock the $3 trillion data economy by turning static data into programmable economic assets.

What Exactly Is Irys?

At its heart, Irys is the world's first programmable datachain—a blockchain designed specifically for handling massive amounts of data efficiently. Unlike traditional Layer 1 (L1) chains that juggle transactions, smart contracts, and storage all at once, Irys specializes in data. It combines a high-performance data layer with a native smart contract execution environment, allowing data to come with built-in instructions for things like licensing, monetization, and access control.

Think of it this way: In most blockchains, storing big files—like high-res images or videos—can get pricey and complicated. Irys flips the script by offering infinite data capacity with predictable pricing tied to real-world storage costs. Plus, its EVM-compatible tools make it easy for developers to integrate without starting from scratch. Benaron puts it succinctly in the clip: "The decentralized storage network allows you to store data for any period of time at a much lower cost."

Why This Matters for Meme Tokens

Meme tokens thrive on community-driven content: viral images, videos, and memes that capture the internet's attention. But storing this media on-chain has always been a hurdle—costs skyrocket, and scalability issues can kill the vibe. That's where Irys shines. By making on-chain data storage cheaper and more flexible, it opens the door for meme token projects to embed rich media directly into their ecosystems without breaking the bank.

Imagine launching a meme coin with on-chain NFTs where the artwork isn't just stored but programmable. Creators could set up automated royalties, verifiable ownership, or even interactive elements via the VM. For blockchain practitioners diving into meme tokens, this means more room for innovation—think decentralized meme generators or community-voted content libraries, all running natively on-chain.

Josh Benaron emphasized the broader vision: "The data economy has a massive infrastructure problem. AI companies scrape trillions of dollars worth of content while creators see nothing. We're building the infrastructure that finally allows data creators to capture the value they generate." While Irys is eyeing AI applications, the implications for meme creators are huge, as memes are essentially data goldmines waiting to be monetized.

Einar Braathen from CoinFund echoes this excitement: "Irys represents the infrastructure layer for the AI economy... This is the AWS moment for onchain data." With over 600 million data transactions processed and 4 million+ daily active wallets, Irys is already proving its chops.

Looking Ahead

This funding round isn't just a win for Irys—it's a signal that institutional players are betting big on specialized blockchain infrastructure. For meme token enthusiasts and builders, keeping an eye on Irys's developments could pay off, especially as the platform rolls out more tools for on-chain apps. Whether you're a dev looking to enhance your next meme project or just curious about the latest in crypto tech, Irys is positioning itself as a game-changer in how we handle data on the blockchain.

Stay tuned to Meme Insider for more updates on how emerging tech like this is shaping the meme token world. If you're building something cool with on-chain data, drop us a line—we'd love to hear about it!