1. Introduction to Story Protocol
Story Protocol will release the creativity of the internet by building the IP infrastructure layer of the network. It is a first-layer blockchain designed to tokenize intellectual property, making it programmable in the AI era. IP allows people to own and control their original ideas and creations. The protocol elevates IP to the internet era by providing an open IP repository and a set of modules that interact seamlessly with that IP.
Story Protocol's open IP repository allows creative IP (essays, images, audio, etc.) to document its evolution from inception to endless combinations of digital co-creation. Just as Git enables code tracking through branches and version control, Story Protocol aims to become the origin layer for creative IP.
In addition to tracking the ownership situation during the growth process of IP, our module also supports seamless combinations, allowing anyone to contribute to the IP and gain value from their contributions. Our module adds functionality on top of the IP repository, similar to how GitHub expands Git's functionality through forks and pull requests.
2. Tokenized IP breaks the limits of Web3
Story liberates intellectual property from current constraints and brings it into the blockchain. However, despite the abundance of first-layer and second-layer solutions in the web3 space, finding a technological foundation capable of supporting such a large-scale vision remains a daunting task. This is because the nature of intellectual property transcends the boundaries of blockchain technology.
The freely flowing, programmable IP supported by Story will quickly form complex relationships, as creators will register, remix, and monetize their works while other users will utilize these IPs for use cases like IPFi. It has proven impossible to traverse these complex networks composed of countless parent-child relationships quickly and cost-effectively on existing first-layer blockchains.
That is why Story is working to build a global IP blockchain— a first-layer solution that treats intellectual property as a first-class citizen while ensuring quick interaction and low costs.
3. What problems can Story Protocol solve?
1. Complex authorization processes: When individuals want to create new content based on existing IP, the authorization process can be very complex. They need to contact the IP owner and negotiate various terms such as license type, scope of use, geographical restrictions, royalty percentages, and associated fees. For large companies with ample funds and resources, these steps may be easier to handle, but for most individual creators, these cumbersome negotiation processes undoubtedly set a high barrier and increase the difficulty of creation.
2. Revenue distribution disputes: Although licensing agreements typically specify the royalties to be paid, disputes still occur frequently for various reasons. For instance, the parties may misunderstand how royalties are calculated, leading to disputes over gross revenue, net profit, discounts, shipping costs, and tariffs. Additionally, companies may reduce the amount of royalties they need to pay by manipulating financial statements. This means that even with clear agreements, disputes over the calculation and payment of royalties may still arise in practice.
3. Legal obstacles: The laws and regulations surrounding the registration, protection, and use of IP are very complex and involve high costs, which may be unaffordable for individuals, thus limiting their development in the fields of creation and innovation.
4. Cross-border complexity: Due to the different IP laws and regulations in various countries, dealing with IP issues internationally requires compliance with multiple countries' legal requirements, which increases the complexity of legal procedures.
4. What is the future of Story Protocol?
The mainnet of Story Protocol is expected to launch later this year, marking an important milestone in its development. With its launch, it will provide a practical and scalable solution for IP management, potentially setting new standards for intellectual property handling in the digital age.
In summary, Story Protocol represents an innovative way of IP management in the AI era, ensuring that creators can protect their rights and contributions in an increasingly digital world. With its impending launch, it is expected to make the digital space fairer and more sustainable for creators.
5. Founding team and main investors of Story Protocol
6. Financing situation of Story Protocol
1. In May 2023, Web3 content copyright company Story Protocol announced the completion of a $29.3 million seed funding round, led by a16z Crypto, with participation from Hashed, Samsung Next Fund, and others.
2. In September 2023, the on-chain intellectual property agreement Story Protocol announced the completion of a $25 million Series A funding round, led by a16z crypto. Combined with the $29.3 million funding completed in May of this year, Story Protocol's total funding has exceeded $54 million.
3. In August 2024, Layer1 intellectual property blockchain Story Protocol's developer PIP Labs announced the completion of an $80 million Series B funding round, led by a16z crypto, with participation from Polychain, Stability AI, and others.
Currently, Story Protocol has raised a total of $140 million, with the developer PIP Labs having a post-funding valuation of $2.25 billion.
The number of on-chain IPs for Story Protocol has surpassed 20 million, with over 200 teams building applications in IPFi, AI, and consumer markets.
As the global digitalization process accelerates, the number of IPs is rapidly increasing, but due to the limitations of traditional management systems, the IP industry still faces many challenges. Story Protocol aims to solve these issues by tokenizing IP assets and introducing blockchain technology to improve the efficiency and transparency of the IP market.
6. Project summary
Project name: Story Protocol
Project track: IP ecosystem
Total token supply: 1 billion
Launch Time: Q1 of 2025
Launch platforms: Binance, Ouyi, Sesame Open Door, Huobi, and other major exchanges
Estimated launch price: 3-6U
Private placement price: you886574
Investment always comes with risks. If you want to reduce risk, follow me, let's communicate and discuss together! I am Brother Lei, code name Stable! Focused on the crypto space for seven years. In-depth research on primary projects and secondary markets. Learn more about quality primary project information and recommended secondary trading points. Just to safeguard your investments in the crypto space!
