EXHIBIT 4.40
                             [Form of Certificate]

                                  WAM!NET INC.

                             A Minnesota Corporation



No. __                                                   _____ Shares of Class G
                                                     Convertible Preferred Stock

     This certifies that _____________ is the registered holder of Shares of
Class G Convertible Preferred Stock, par value $0.01 per share (see reverse
side), transferable only on the books of the Corporation by the holder hereof in
person or by Attorney upon surrender of this Certificate properly endorsed.

     IN WITNESS WHEREOF, the said Corporation has caused this Certificate to be
signed by its duly authorized officers this _____ day of March, 2000.



                                       -----------------------------------------
                                       Gary L. Hokkanen, President



                                       -----------------------------------------
                                       Edward J. Driscoll, Jr., Secretary


     The Class G Convertible Preferred Stock has the rights and preferences as
set forth in the Certificate of Designation of Class G Preferred Stock as filed
of record with the Minnesota Secretary of State on March 6, 2000.

     The securities evidenced hereby are subject to the terms of that certain
Stockholders Agreement, dated as of February 18, 2000, by and among the
Corporation and Buyers listed on Schedule 1.1, including certain restrictions on
transfer. A copy of this Agreement has been filed with the Secretary of the
Corporation and is available upon request. The securities evidenced hereby have
not been registered under the Securities Act of 1933, as amended (the "Act") and
may not be resold, transferred or otherwise disposed of other than in a
transaction exempt from, or not subject to, the registration requirements of the
Act or pursuant to an effective registration statement thereunder.



     For value received, _____________________________________ does hereby sell,
assign and transfer unto __________________________________________ Shares
represented by the within Certificate and does hereby irrevocably constitute and
appoint ___________________________________ Attorney to transfer the said Shares
on the books of the within named Corporation with full power of substitution in
the premises.



Dated:  _____________________



                                       -----------------------------------------

Note: The signature on this assignment must correspond with the name as written
upon the face of the Certificate, in every particular, without alteration or
enlargement or any change whatever.


                                       2.