In a groundbreaking move, Story, a Layer 1 blockchain focused on intellectual property (IP), has raised a staggering $140 million in funding. This impressive raise, led by Andreessen Horowitz and Polychain, underscores the growing importance of IP in the digital age.
Intellectual property is a vast and valuable asset class, encompassing everything from AI models and training data to memes, videos, and even game character traits. As AI technology continues to advance, the significance of IP has only increased. Robust IP protection is essential for fueling AI development and progress.
Story's vision is to tokenize this multi-trillion-dollar IP asset class, empowering creators to maintain control over their work and create a global network where fans can engage, remix, and promote their creations. With over 200 teams currently building on the Story platform, the ecosystem is rapidly expanding, covering sectors such as IPFi, AI, and consumer markets.
The recent funding round has attracted an impressive array of investors, including the likes of Hashed, WME, DaoFive, Nomad, Foresight Ventures, SparkLabs Global, Two Small Fish VC, Samsung Next, and Mirana. Additionally, the roster of angel investors reads like a who's who of the crypto and tech world, featuring luminaries such as Balaji Srinivasan, Adrian Cheng, 0xDesigner, ZAGABOND, Paris Hilton, and many others.
To further showcase the potential of Story and its ecosystem, the platform will host the Story House event, coinciding with Korea Blockchain Week and Frieze Seoul. This event will feature activities and collaborations with Story's partners, highlighting the transformative power of IP in the AI era.
As part of Story House, the Programmable IP Seoul event will take place on September 2nd, showcasing leading generative AI artists, including Refik Anadol, the creator of the popular Stability AI model, and Kyogu Lee, CEO of HYBE's Voice AI subsidiary Supertone.
The future of intellectual property is poised for a radical transformation, and Story is leading the charge. With its innovative blockchain technology and growing ecosystem, the platform aims to empower creators, unlock new revenue streams, and drive the next wave of AI-powered creativity.