Story (IP)

Intellectual Property (IP) Management

Story is a Layer 1 blockchain designed specifically to register, license, and monetize intellectual property (IP) assets. It allows creators to protect their work by embedding usage terms, attribution, and royalty agreements directly into the blockchain, making IP management transparent and automated.

Tokenization and Licensing

Each IP asset is represented as an ERC721 NFT, which means ownership can be bought and sold. Licenses for using the IP are also minted as NFTs, enabling easy buying and selling of usage rights under specific terms. This programmable IP automates royalties and licensing permissions.

AI and Creator Economy Integration

Story supports the AI era by providing rights-cleared, specialized data for AI training and use. It enables creators and AI to collaborate, share, and monetize creations fairly. The platform is designed to handle the fast pace of AI-generated media and its IP challenges.

Network Utility and Governance

The native token (IP) is used for staking to secure the network, paying transaction fees (gas), and voting on governance proposals. This multi-purpose token supports the ecosystem’s growth and sustainability.

Cross-Chain and Developer Support

Thanks to LayerZero’s cross-chain capabilities and EVM compatibility, Story allows IP to be used and monetized across different blockchains and supports developers in building applications with existing Solidity code.

Real-World Use Cases

Story is already onboarding major IP holders like artists and screenwriters, enabling a new online economy where creators can share and monetize their work globally with low friction and standardized licensing.

In summary, Story is a blockchain platform that transforms how intellectual property is managed, licensed, and monetized, especially in the AI-powered digital economy.

Pros of Story

• Story is a Layer 1 blockchain designed specifically for intellectual property (IP), enabling creators to register, license, and monetize their IP assets easily.
• It uses blockchain technology to provide a transparent and efficient framework for IP attribution, licensing, and commercialization.
• Story tokenizes IP and makes it programmable, allowing ownership, remixing, and monetization to be managed on-chain.
• The platform supports new licensing and monetization models across industries, helping unlock revenue opportunities in an AI-powered economy.
• Story’s blockchain is 100% EVM-compatible and optimized for handling complex data structures like IP quickly and cost-efficiently.
• It has strong backing, including $80 million raised in funding rounds led by major investors like a16z.
• The protocol embeds usage terms, attribution, and royalty agreements directly into the blockchain, ensuring fair compensation for creators.
• Story supports fast finality and cheap transactions through its consensus layer based on CometBFT.
• It offers interoperability with popular wallets like MetaMask and supports bridged tokens for liquidity.

Cons of Story

• The price of Story tokens has experienced significant volatility and recent declines, underperforming compared to other cryptocurrencies.
• As a specialized blockchain for IP, it may have a narrower user base compared to more general-purpose blockchains.
• Transaction fees (gas) are required on the Story blockchain, which could add costs for users.
• The ecosystem and adoption are still growing, so some features or integrations may be limited compared to more established platforms.
• Managing and storing Story tokens requires understanding of digital wallets, which can be complex for beginners.
• Listing on major exchanges is still in progress, which may affect liquidity and ease of trading initially.

This summary highlights the main advantages and challenges of Story as a crypto token and blockchain platform focused on intellectual property.

Founders of Story

Story was co-founded by three experienced entrepreneurs:

• Seung Yoon “S.Y.” Lee: CEO and co-founder, previously Global Strategy Officer at Kakao Entertainment and founder of Radish, a mobile fiction app sold for $440 million.
• Jason Zhao: Head of Protocol and co-founder, formerly a Product Manager at DeepMind, with a background in AI and frontier technology investments.
• Jason Levy: Co-founder, with experience at Apple and expertise in crypto, AI, and intellectual property.

These founders bring strong backgrounds in blockchain, AI, and digital media to Story.

Lead Investors

Story has raised significant funding led by a16z crypto, the crypto-focused division of Andreessen Horowitz. This includes an $80 million Series B round, bringing total funding to $143 million.

Other Notable Investors

• Polychain Capital, a well-known crypto investment firm
• Scott Trowbridge, SVP of Stability AI
• Adrian Cheng, founder of K11
• Cozomo de’ Medici, a digital art collector
• Endeavor
• Samsung Ventures
• Hashed
• dao5
• Insignia Venture Partners
• David Bonderman (founder and chairman of TPG Capital)
• Si-hyuk Bang (founder and chairman of HYBE/BTS)
• Paris Hilton’s 11:11 Media
• CH Kim (CEO of Krafton/PUBG)
• Kyung In Jung (CEO of Black Label)
• Allen Lau and Eva Lau’s Two Small Fish Ventures (Wattpad co-founder)
• Alliance DAO
• Foresight Ventures
• Mirana Ventures
• Balaji Srinivasan
• Nicolas Berggruen
• Charlie Songhurst
• David Lee (SLVC)
• Sanghun Kim (former CEO of Naver)
• Chang Kim (founder of Tapas)
• Roham Gharegozlou (founder and CEO of Dapper Labs)

Founders and Team Background

The Story team includes CEO/cofounder Seung Yoon Lee, who previously sold Radish Fiction to Kakao, along with Jason Levy and Jason Zhao, who bring experience from Episode and Google DeepMind respectively.

These investors and founders combine expertise from tech, creative industries, and blockchain, supporting Story’s mission to tokenize and protect intellectual property on the blockchain.

Halal Status of Story

• The halal status of Story depends on whether the project behind it complies with Islamic finance principles.
• Cryptocurrencies are generally considered halal if they avoid riba (interest), gharar (excessive uncertainty), and haram activities.
• Since Story is a crypto token, its halal status would require screening to ensure it does not involve prohibited elements.
• Islamic scholars have differing opinions on cryptocurrencies; some say investing in crypto is halal if the project itself is halal.
• No specific halal certification or screening information for Story is available in the provided data.

Answer: No definitive yes or no can be given based on available information; it depends on whether Story complies with Islamic finance rules.