Story Protocol’s mainnet launches on Feb. 13, introducing the IP token to empower creators in monetizing and protecting their digital intellectual property.
To preserve creators’ and rights holders’ intellectual property, the Web3 IP protocol seeks to provide an open market for programmable intellectual property.
Web3 protocol for intellectual property In addition to its native token, IP, which will allow content creators to sell their work and safeguard their digital property, Story has announced that its mainnet will open on February 13.
Story protocol posted on X on February 11, announcing its impending mainnet launch. There will be a first staking period known as “Singularity” before its native coin, which will be used for transactions, governance voting, creator payments, and launches.
One billion IP tokens will be available in total, and after the staking period, awards will begin to be given out on March 2.
A post on the protocol’s forum states that the mainnet launch “marks a major milestone in bringing decentralized IP ownership to the world.”
Bitget, Bithumb, Bybit, KuCoin, Coinbase, and OKX are just a few of the exchanges that have already declared their support for listing IP tokens.
Through the provision of an open market for intellectual property, Story seeks to make IP programmable by allowing content owners to register their work and subsequently program it with the terms and fees necessary for others to utilize it. Although the fees are paid in cryptocurrency, IP rights holders and creators may receive payment in their local currency.
The blockchain will allow creators to register their work directly, automate income sharing and licensing, receive payment without intermediaries, and safeguard their creations from unauthorized usage.
After seeing problems with AI remixing content without paying creators, former Google DeepMind product manager Jason Zhao started Story in 2022.
“You have these amazing creative tools,” he remarked, alluding to artificial intelligence, “but if you are an IP holder, a platform, or an individual creator, then you have no sustainable business model.”
Story protocol stated on February 7 that “IP will be crucial in tokenizing the $61 trillion IP asset class in the age of AI.”
The protocol is currently being used by over 50 apps, such as Magma, which has 2.5 million users and enables groups to collaborate on digital creative projects simultaneously.
Story Protocol introduced an experimental framework for AI agents to interact on-chain in December, capitalizing on the newest, most popular AI narrative: agentic AI.
Story claimed that its ACTP/IP developed a framework for securely managing intellectual property, enabling autonomous communication amongst AI agents in which the bots receive payment for exchanging data.
Prominent venture capital organizations such as Andreessen Horowitz, Polychain Capital, Hashed, and Samsung Next support Story Protocol. In May 2023, it raised $29 million in a seed fundraising round; in September 2023, it raised $25 million in Series A; and in August 2024, it raised an additional $80 million in Series B.
