Many products are born out of the times. Recently, a hot topic in China is what is the core of the three sheep. Many people in the comment area are saying "321, go to the link" and "family members". If you think about it from another angle, it is true that the most valuable thing about Yang Daxiao Yang and Simba is not the company, but the powerful IP value of themselves.
Now more and more people are aware of the economic benefits of intellectual property (IP). Intellectual property has become an important asset class, covering a wide range of fields from software codes, works of art to scientific inventions. At a time when the global economy is sluggish and the employment situation is severe, the global IP value, the number of patents and trademarks are constantly increasing, and the center of intellectual property is gradually moving to Asia. It can be seen that the future of the IP market is difficult to estimate.
However, as the IP market continues to grow, the complexity of IP management is also increasing. The traditional IP management model relies on centralized legal systems and manual verification, which is inefficient and difficult to adapt to the era of rapid digital development.
At the same time, traditional IP management faces problems such as easy infringement, difficult authorization, and low transparency. The laws on IP vary between countries and regions, and the rights of IP owners are difficult to protect.
Insufficient liquidity: Due to the lack of a unified platform, the transaction and authorization of IP needs to go through complicated legal procedures, which is not only time-consuming and labor-intensive, but also leads to high costs.
Protection and transparency issues: In the United States alone, digital piracy costs as much as $50 billion each year. Traditional legal protection methods make it difficult to track infringements, and the process of collecting evidence and defending rights is complicated.
The outdated nature of the legal system. The existing IP legal system was designed primarily for the physical world and does not match the needs of the digital age.
In the face of many practical problems, introducing IP tokenization into the blockchain, making it programmable and directly managed by the IP owner, may be one of the ways to solve these problems.
Story@StoryProtocol is a revolutionary IP management platform based on blockchain technology, dedicated to completely changing the way the narrative world is created. Its core mission is to unlock a whole new way to create, manage and license intellectual property on the chain, thus forming an ecosystem that can be remixed and combined. By providing a simplified framework, Story Protocol supports the entire life cycle from IP creation, management to authorization.
Story Network is a general-purpose L1 blockchain designed specifically to efficiently process complex data structures, especially data related to intellectual property. This network is based on a combination of the Ethereum Virtual Machine and the Cosmos SDK, combining the advantages of both to achieve high performance and flexibility for IP operations.
The complexity of IP is mainly reflected in its multi-level relationships and interactions. For example, a creative asset is likely to involve many creators, versions, and derivative works. These complex graphical data structures pose new challenges to blockchain technology.
Traditional L1 blockchains find it difficult to efficiently manage and process these complex relationship networks, especially when involving countless complex relationships, and problems such as data confusion are likely to occur.
To solve this problem, Story Network introduced a graph data storage mechanism in its execution layer. Through this mechanism, Story Network can quickly and cost-effectively traverse large IP relationship networks to ensure that the relationship and royalty distribution of each creative asset can be accurately tracked and managed. This innovation enables Story Network to support a wide range of IP management and commercialization use cases, such as automated licensing, royalty payments, and dispute resolution.
The implementation of programmable IP is based on two key pillars: tokenization of assets and module-driven interaction.
In traditional IP management, licensing is often a complex and expensive process. Story Network’s Proof-of-Creativity Protocol simplifies this process through pre-configured licensing modules, making licensing efficient and easy to manage.
Royalty payment is an important part of the commercialization of intellectual property. Story's Proof-of-Creativity protocol ensures the automation and transparency of royalty payments, and achieves safe and reliable royalty distribution through blockchain technology.
Story defines how to share revenue in the derivative chain through LAP policies. Each IP asset can choose the downstream distribution of royalties, which means that the revenue of each derivative work is automatically distributed to the original creator in a predefined proportion.
Since all royalty calculations and payment operations occur on the blockchain, these processes are neither error-prone nor interfered with by third parties. Creators can ensure that their income arrives on time, solving the delays and disputes common in traditional royalty payments. This automated mechanism brings reliable cash flow support to creators.
Programmable IP licensing is a core innovation of Story Network that enables intellectual property to be brought to the blockchain, bringing on-chain liquidity and programmability to a multi-trillion dollar asset class.
On Story Network, intellectual property is not just a digital clause, but a programmable smart contract. Story Network is similar to the role of USDC to legal currency, introducing real-world intellectual property to the blockchain through tokenization and universal licensing agreements. This process is not just a simple asset on-chain, but a two-way connection that closely connects on-chain assets with the real-world legal system.
A mature blockchain ecosystem must have a wealth of applications. Story Network has established Story Academy, a program designed specifically for builders and innovators to support, guide and accelerate innovative projects built on Story Network. The program provides comprehensive technical support, marketing strategies, funding and investor networks to help entrepreneurs realize their dreams.
With the help of Story Academy, many projects such as Magma, Mahojin, Sekai, and Ablo have successfully applied Story Network's related protocols.
There is a huge market waiting to be explored in the field of IP. Story has a certain first-mover advantage by laying out the IP market in advance. In addition, it is favored by capital and has raised more than 120 million US dollars in total.
The technical level mainly includes three parts: universal first-layer blockchain, Proof-of-Creativity protocol and programmable IP license. Overall, the project has performed well in financing, technology and implementation, but the IP market is not yet mature and still needs time to test.