• Web3 IP protocol Story will launch its mainnet and native token, IP, on February 13, enabling creators to monetize and protect their digital content.
  • The project, backed by firms like Andreessen Horowitz and Samsung Next, aims to decentralize IP management and has over 50 apps already using its protocol.

Web3 intellectual property (IP) protocol Story has announced that its mainnet will go live on February 13, alongside the launch of its native token, IP. The token is designed to facilitate transactions, governance voting, and payments to creators within the ecosystem.

The announcement was made on February 11 via a post on X. According to Story, the launch represents a step toward establishing decentralized ownership of intellectual property.

The rollout will begin with an initial staking period called “Singularity,” with staking rewards set to be distributed starting March 2. A total of 1 billion IP tokens have been allocated for the ecosystem.

Several cryptocurrency exchanges, including Bitget, Bithumb, Bybit, KuCoin, Coinbase, and OKX, have announced plans to list the IP token.

Story Protocol aims to provide a framework for programmable intellectual property by allowing rights holders to register and manage their content on a decentralized network. The platform enables creators to automate licensing, revenue sharing, and content protection while eliminating intermediaries. Transactions on the protocol are conducted in cryptocurrency, though creators have the option to receive payouts in their local currency.

The project was co-founded in 2022 by Jason Zhao, a former product manager at Google DeepMind, who identified concerns around AI-generated content remixing without compensating original creators.

Speaking to Cointelegraph in December, Zhao noted:

“You have these amazing creative tools, but then you have no sustainable business model if you are an IP holder, or a platform, or an individual creator.”

On February 7, Story highlighted the significance of IP in the evolving AI landscape, stating that “in the age of AI, IP will play a critical role in tokenizing the $61 trillion IP asset class.”

More than 50 applications are already operating on the protocol, including Magma, a digital collaboration platform with 2.5 million users. In December, Story introduced an experimental framework for AI agents to interact on-chain, aiming to establish a system where AI-driven entities can exchange data securely while being compensated for their contributions.

Story Protocol has secured funding from major venture capital firms, including Andreessen Horowitz, Polychain Capital, Hashed, and Samsung Next. The company raised $29 million in a seed funding round in May 2023, followed by $25 million in a Series A round in September 2023. In August 2024, it secured an additional $80 million in a Series B round.

Edited by Harshajit Sarmah