• Jason Zhao is stepping back from his full-time role at Story Protocol to launch AI venture Poseidon, targeting science, robotics, and space.
  • Leadership transitions to co-founder SY Lee as CEO, with Zhao staying on as a strategic adviser.
  • Story Protocol has raised $130M since 2021, and its token IP traded above $5.80 following the news.

Jason Zhao, co-founder of blockchain-based intellectual property platform Story Protocol, is stepping down from his full-time role to launch a new artificial intelligence (AI) startup called Poseidon.

Zhao, who co-founded Story Protocol in 2021, announced the move on X, noting he will remain a strategic adviser to the project while dedicating his focus to Poseidon.

The new company will apply AI across frontier industries, including science, biopharma, robotics, and space, areas Zhao described as the next wave of intelligence-driven innovation.

“Language generation is just the initial wave of a cascade of abundant intelligence across fields… that, if successful, will constitute a new Industrial Revolution,” Zhao said.

Story Protocol has become one of the most prominent Web3 projects tackling intellectual property. By making IP “programmable” on-chain, it allows creators and rights holders to register, monetize, and build composable applications around their content. The project has raised over $130 million in funding from major backers, including Andreessen Horowitz (a16z).

With Zhao’s transition, leadership responsibilities will shift to co-founder SY Lee, who assumes the role of CEO. Andrea will serve as chief product officer, and Sandeep will take on the position of chief AI officer. Zhao emphasized that he remains deeply invested in the project, calling it “the most meaningful experience of my life.”

Story Protocol’s native token, IP, rose 2% on the day of the announcement, trading above $5.80, a sign that investors view the leadership handover as stable.

As Zhao embarks on Poseidon, his move reflects a broader trend of crypto founders pivoting toward AI, seeking to blend decentralized infrastructure with intelligent systems that could transform both blockchain and scientific research.

Edited by Harshajit Sarmah