Story Protocol Secures $140M to Revolutionize IP Blockchain for Creators

Story Protocol has raised $80 million in a Series B round led by A16z Crypto, bringing its total funding to $140 million. The platform aims to tokenize intellectual property, protecting creators from exploitation by major tech companies and AI, with over 200 teams and 20 million IPs already building on it.

The Story Protocol Foundation, a blockchain platform dedicated to transforming the intellectual property (IP) landscape, has announced a successful $80 million Series B funding round, led by A16z Crypto, the digital asset arm of Andreessen Horowitz. This new capital infusion brings the company’s total funding to an impressive $140 million, following a previous $54 million round also led by A16z Crypto.

Other significant investors in this round include Polychain Capital, Scott Trowbridge, VP of Stability AI, Adrian Cheng, founder of K11, and renowned digital art collector Cozomo de’ Medici. The strong backing from these notable entities underscores the growing importance of Story Protocol’s mission in the blockchain and creative industries.

Story Protocol is carving out a niche as “the world’s IP blockchain,” with a focus on tokenizing the intellectual property sector, a market valued in the trillions. The platform is designed to address the complex challenges posed by the rapid growth of artificial intelligence (AI) and to protect content creators from being exploited by major tech companies and large language models. Story Protocol’s blockchain infrastructure ensures that IP rights are managed in a fair and efficient manner, providing a vital safeguard for creators in the digital age.

The platform’s key offering, the Proof-of-Creativity protocol, allows for permissionless licensing and automatic royalty payments, facilitating the exchange of IP rights and opening up new revenue streams for creators. This innovation is already attracting significant interest, with more than 200 teams managing over 20 million IPs actively building on the platform. Projects span various sectors, including IPFi, AI, and consumer markets, with notable participants like ‘Ablo’ by ‘Space Runners’ and Sekai, an AI storytelling platform that fosters collaborative content creation.

However, the platform is not without its challenges. The growing prevalence of AI has led to an increase in IP theft, with big tech companies often appropriating IP without compensation. S.Y. Lee, co-founder and CEO of PIP Labs, highlighted the risks, emphasizing the need for robust protection mechanisms for original IP.

Chris Dixon, founder and managing partner of A16z Crypto, pointed out the critical role of Story Protocol’s infrastructure in ensuring creators are fairly compensated in the AI era. The IP market is expected to experience exponential growth, with projections valuing it at over $800 billion by 2030.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)