According to the Daily Planet, the on-chain intellectual property agreement Story Protocol has released a programmable IP layer, which aims to protect creators' intellectual property while releasing creativity and liquidity. The programmable IP layer consists of two elements: data structures and modules, which provide IP with on-chain, scalable and composable standards. Story Protocol increases the readability and interoperability of IP by making IP programmable and turning code into "law". In September 2023, Story Protocol completed a $25 million Series A financing led by a16z crypto, with a total financing amount of more than $54 million. One of the co-founders, S.Y. Lee, was the founder of the novel creation platform Radish, which was acquired by South Korean technology giant Kakao for $440 million in 2021.