First impression, story agreement comes from the strong recognition of top streamers
The exclusive launch of Story Protocol test coins is also a very critical step. With the recognition from the top streamers, the subsequent launch will be smooth and unimpeded! After all, no other project has attracted so many institutions to support Story Protocol recently!
What exactly did Story want to do? To what extent did it achieve this?
On August 21, Story Protocol, the developer of the intellectual property blockchain Programmable IP (PIP) Labs, completed a $80 million Series B financing, led by a16z Crypto and participated by Polychain Capital. This brings Story Protocol's total financing to $140 million. Such a high amount of financing naturally attracted widespread attention from the community. Yesterday, Story Protocol's newly launched IP (intellectual property) market Color has landed on its test network. Users can buy, sell and discover IP assets and licenses on the platform, and mint colored commemorative NFTs for free.
In the current market environment, Story is definitely a hot project. Its transformation from a protocol to a public chain, its outstanding financing capabilities, and its strong investor background all remind us how worthy of attention this project is.
What is unique about Story Protocol?
Unlike many L1 blockchains, Story Protocol is not focused on speed or security, but is positioned as a blockchain platform focused on legal contracts, especially intellectual property (IP) protection.
As of the time of writing, the testnet has just been launched, so technical details are still limited. However, we believe that the real differentiator of Story Protocol lies not in the technology itself, but in the markets and use cases it targets.
Target users: Content creators and legal professionals
Story Protocol is designed for content creators. Imagine being a creator who publishes music on platforms like Spotify or YouTube, but there is uncertainty about who owns the intellectual property. Story Protocol provides a way to record timestamped information on the blockchain, verifying when the creator created and published the content. This feature could significantly change the way creators are protected in legal disputes.
Additionally, legal practitioners may also adopt this technology. Currently, proving the creation of intellectual property rights typically involves maintaining physical copies and notifying relevant parties and jurisdictions, a process that is time-consuming and cumbersome. With Story Protocol, the creation of intellectual property rights can be timestamped on the blockchain, providing credible evidence for legal proceedings. Ideally, law firms may standardize the registration of digital intellectual property rights on Story Protocol, simplifying and enhancing the security of this process.
In this ecosystem, the role of lawyers will not be replaced but enhanced. Story Protocol has the potential to be a key tool in their toolbox, driving adoption and integrating this new standard into their practice.
Share income and create a win-win future
In the Story Protocol ecosystem, the value of creators has been unprecedentedly valued and rewarded. Through smart contract technology, the platform realizes the automatic distribution and transparent management of the income from the use of works. Whether it is the original author, adapter or other contributor, they can get corresponding economic returns according to the size of their contribution. This fair and reasonable income distribution mechanism not only stimulates the creative enthusiasm of creators, but also promotes the virtuous cycle and sustainable development of the entire ecosystem.
In short, Story Protocol is building a new narrative world-building platform based on blockchain technology. It not only provides creators with more convenient and efficient IP management tools, but also brings unprecedented opportunities for change to the entire creative industry. In this "story Lego" ecosystem full of infinite possibilities, every creative spark has the potential to become the spark that ignites the next great story.
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