What Is the DATA Network (DATA)?
DATA is the native cryptocurrency of Data Network, previously known as Story Network. The token was formerly traded under the IP ticker. Following the project’s rebrand announcement on June 25, 2026, IP was renamed DATA through a one-to-one migration.
Data Network is a Layer 1 blockchain developed to record the origin, ownership, consent terms, licensing conditions, and payment history of intellectual property and data. It uses an Ethereum-compatible execution environment with a CometBFT-based consensus layer.
The project began as Story Protocol in 2022. Its initial purpose was to provide blockchain infrastructure for registering intellectual property and defining how creative works could be used, modified, licensed, or monetized.
The network’s intellectual property framework includes the Proof of Creativity protocol. This system records the history of registered assets and supports programmable licensing terms. Rights holders can establish conditions for commercial use, non-commercial use, derivatives, and revenue sharing. Smart contracts apply these terms and distribute payments according to the selected rules.
In June 2026, Story Protocol became the DATA Foundation, while Story Network was renamed Data Network. The project also narrowed its focus to verified and licensed data used in artificial intelligence development. Its current infrastructure covers data provenance through Trace, confidential access through Confidential Data Rails, and usage rights through its IP and licensing modules.
The DATA Foundation also partnered with Kled, an opt-in data marketplace. Kled founder Avi Patel joined the foundation as chief data officer while continuing to lead Kled.
DATA is used to pay transaction fees on Data Network. Transactions may include registering assets, updating ownership information, recording data provenance, and interacting with licensing contracts.
Token holders can stake DATA with network validators. Staking supports transaction validation and network security while allowing validators and delegators to participate in network rewards.
DATA can also facilitate payments connected with data access, licensing agreements, and royalty distribution. Network applications and automated systems may use the token to complete transactions involving datasets, intellectual property, or machine learning models.
The change from IP to DATA did not require holders to purchase a new token. Existing balances were converted at a ratio of one IP token for one DATA token.
The project was established as Story Protocol in 2022 by Seung Yoon “S.Y.” Lee, Jason Zhao, and Jason Levy. Lee previously founded the serialized fiction platform Radish. Zhao worked in product development at Google DeepMind, while Levy had experience in digital content and interactive storytelling.
Following the rebrand, Andrea Muttoni became chief executive officer of the DATA Foundation. Avi Patel joined as chief data officer to contribute to the foundation’s data infrastructure and AI training-data strategy.
At the time of writing, DATA had a total supply of approximately 1.03 billion tokens. Its circulating supply was approximately 357.29 million DATA.
The live price of DATA is available and updated in real-time on Binance.