It is well known that the application range of intellectual property is very broad, almost involving every aspect of daily life. Therefore, the application of blockchain technology in the field of intellectual property has great potential. The intellectual property blockchain Story Protocol announced the 'IP Economic Model' yesterday, attracting strong attention from the crypto industry.
[Latest News]
On February 7, according to official news, Layer1 intellectual property blockchain Story released the IP token economic model: The total supply of IP is 1 billion pieces, with an initial unlock of 25%. Of this, 58.4% will be allocated to the community, including ecosystems and communities, foundations, and initial incentives.
Project Introduction
Story Protocol is building web3 technology to fundamentally change the way narratives are created. Its mission is to unleash a completely new way to create, manage, and license on-chain IP, ultimately forming a remixable and combinable 'story Lego block' ecosystem. Story Protocol provides a simplified framework to manage the entire lifecycle of IP development, supporting features such as source tracking, frictionless licensing, and revenue sharing.
Applications built on Story Protocol are designed for creators of all media (prose, images, games, audio, etc.), enabling writers and artists to track the provenance of their work, allowing anyone to contribute and remix, while capturing the value of their contributions.
Tags: Social, Layer1, Creator Economy
Established: 2021
Story Protocol Team
1. SY (Seung Yoon) Lee - Co-founder and CEO
As CEO and co-founder of the project, S.Y. Lee (Seung-yoon Lee) is undoubtedly at the core of Story Protocol. He was previously the CEO and founder of the story platform Radish, which was acquired by the South Korean tech giant Kakao for $440 million in 2021. He then served as Kakao's Global Strategy Officer, responsible for its global investment and acquisition activities.
During this period, he acquired Asia's largest English fantasy platform Wuxiaworld. Lee also served as a venture partner at Hashed, Korea's largest blockchain fund, actively investing in web3 companies and providing advice.
2. Jason Zhao - Co-founder
Jason Zhao has a strong interdisciplinary and AI background. He graduated from Stanford University with a degree in philosophy and continued his graduate studies in CS at the same school. After graduation, he worked as a product manager on Google's DeepMind project, dedicated to commercializing the latest AI scientific achievements.
During his time at DeepMind, Jason Zhao was amazed by the rapid evolution of technology in the crypto industry. Thus, he naturally joined the founding team to explore the possibility of empowering creators with blockchain technology.
3. Jason Levy - Co-founder
Jason Levy has extensive experience in storytelling. In 2022, Jason Levy met S.Y. Lee. He was amazed by Web3's ability to grant true ownership to contributors and realized the potential of the Web3 community in breaking marketing bottlenecks and unleashing creativity.
Financing Situation
Seed Round Financing: On May 17, 2023, Story Protocol completed a financing of $29.3 million. Led by a16z crypto, it raised $29.3 million. Other participants include Hashed, dao5, Samsung Next, Foresight Ventures, Mirana Ventures, Berggruen Holdings, SLVC, and Two Small Ventures.
Series A Financing: On September 6, 2023, Story Protocol completed a $25 million Series A financing. Also led by a16z crypto, raising $25 million. Other participating institutions include Hashed, Samsung Next, Foresight Ventures, dao5, Alliance DAO, and Mirana Ventures.
Series B Financing: On August 21, 2024, Story Protocol completed a $80 million Series B financing. Led by a16z, with participation from Polychain, Cozomo de Medici, Adrian Cheng, and Scott Trowbridge. After this round of financing, Story Protocol's project valuation reached an astonishing $2.25 billion!
IP Economic Model
The total supply of IP is 1 billion pieces, with an initial unlock of 25%. The specific allocation plan is as follows:
Ecosystem and Community: 38.4%
Initial Incentives: 10%
Foundation: 10%
Early Investors: 21.6%
Early Contributors: 20%
Future Vision
By putting IP on-chain and achieving programmability, Story Protocol is pioneering a new path in the trillion-dollar intellectual property market.
In this ecosystem full of possibilities, IP is no longer a passive right but an economic engine that can activate infinite value. From this perspective, do you think Story Protocol can become the next milestone of the creator era?
This content is for informational sharing only and does not constitute any investment advice!