PANews March 14 news, according to Decrypt, Story Protocol developer PIP Labs has laid off some employees and contractors, involving 5 full-time employees and 3 contractors, accounting for about 10% of the total number of employees involved in entities related to Story Protocol. The affected teams include Story Foundation and the infrastructure project Poseidon. Story Chief Protocol Officer Andrea Muttoni stated that this personnel adjustment aims to further focus on core directions, and the company is increasing its investment in AI intellectual property infrastructure, with a focus on AI training data and applications related to AI agents.

Public information shows that Story Protocol aims to achieve intellectual property licensing and royalty automation through a programmable licensing mechanism. The company behind the project completed a $80 million Series B funding round in 2024, with a valuation of approximately $2 billion, led by Andreessen Horowitz.