The team behind Story Protocol is announcing $140M in total fundraising to build Story, which is described as the world’s IP blockchain.
As explained by the Story Protocol developers, Intellectual property (IP) is one of the world’s biggest asset classes. Training data, AI models, memes, UGC videos, game assets, character traits and more are all IP, the team noted.
They further claim that everything is IP. With the rise of AI, IP becomes even more valuable. IP serves as the foundational input “that large models train on. Put simply, without IP, AI is likely to hit a ceiling.”
Story claims it is creating a win-win future “where creators can both protect and grow their IP in the age of AI.”
Story is the world’s IP blockchain, a Layer 1 that “seeks to tokenize the multi-trillion-dollar asset class of intellectual property.”
Creators use Story to declare sovereignty “around their IP, set usage rules, and build a global network where fans remix, sell, and promote their work.”
Over 200 teams, totaling more than 20 million addressable IPs, are already “building on Story across various sectors, including IPFi, AI, and consumer markets.”
Builders, creators, and visionaries can join them in solving real problems via Story Academy.
Today, PIP Labs is announcing $140M in total fundraising.
Their $80M Series B was led by a16zcrypto which also reportedly led their Seed, A, & B rounds. Polychain is joining as a strategic co-investor.
Story House is a weeklong “exploration of the relationship between AI and Creativity, coinciding with Korea Blockchain Week and Frieze Seoul.” They will feature many events by their ecosystem partners.
Story Protocol was founded by a team of serial entrepreneurs and experienced operators with a diverse background in consumer tech, generative AI (Deepmind), and Web3 infrastructure (Flow and Harmony). Backed by top investors like a16z crypto, Endeavor, Samsung Next, and Hashed, Story Protocol is building the infrastructure layer to power a new era of open and collaborative IP. Story Protocol’s mission is to grow the creativity of the internet era.