Latest News on StoryProtocol
According to ChainCatcher, the Layer 1 intellectual property (IP) blockchain Story has released its IP token economic model: The total supply of IP tokens is 1 billion, with an initial unlock of 25%. Of this, 58.4% will be allocated to the community, including the ecosystem and community, the foundation, and initial incentives. IP tokens will be used for staking, paying gas fees, and governance. The specific allocation plan is as follows:

• Ecosystem and Community: 38.4%

• Initial Incentives: 10%

• Foundation: 10%

• Early Investors: 21.6%

• Early Contributors: 20%

Regarding the staking mechanism, IP will adopt a fair launch principle. Within 42 days after the genesis block on 1/19 (the Singularity Period), users can participate in staking or delegate staking, but no staking rewards will be generated during this period. After the Singularity Period ends, all participants will begin to receive staking rewards.

Introduction to StoryProtocol
Story Protocol is a Layer 1 focused on intellectual property (IP) management, dedicated to revolutionizing the traditional creative economy through transparency and programmability on-chain. It introduces the Agent TCP/IP framework, allowing multiple AI agents to autonomously trade IP, including training data, creative styles, and investment strategies. This innovative trading layer enables AI agents to interact, negotiate, and trade IP directly without human intervention, ushering in a new era of the "smart economy."

Its core objective is to address the challenges creators face in the existing IP management system, such as rights protection, complex licensing processes, and revenue distribution issues. Story Protocol provides creators with a new tool to transform creative assets into a traceable, composable dynamic ecosystem on-chain.

StoryProtocol Team and Funding
Founded by Jason Zhao, Seung Yoon Lee, and Jason Levy, Story Protocol's team comprises experts in Crypto, IP, and AI technology. Since 2023, it has completed three rounds of large-scale financing, raising a total of $134 million.

• Seed Round: Led by a16z crypto, raising $29.3 million. Other participants included a16z*, Hashed, dao5, Samsung Next, Foresight Ventures, Mirana Ventures, Berggruen Holdings, SLVC, and Two Small Ventures.

• Series A: Also led by a16z crypto, raising $25 million. Other participants included a16z*, Hashed, Samsung Next, Foresight Ventures, dao5, Alliance DAO, Mirana Ventures, Endeavor Capital, Insignia Ventures Partners, 11:11 Media, Roham Gharegozlou, Balaji Srinivasan, Charlie Songhurst, David Lee, Nicolas Berggruen, David Bonderman, Chang Kim, Sanghun Kim, CH Kim, and Kyung In Jung.

• Series B: Successfully completed in August 2024, raising $80 million. Participants included a16z*, Polychain, Cozomo de Medici, Adrian Cheng, and Scott Trowbridge. After this round of financing, the valuation of the Story Protocol project reached an astonishing $2.25 billion!

What Problems Does StoryProtocol Solve?
What issues in the IP market can Story Protocol address? The current IP market faces several challenges:

• Complex Licensing Processes: When individuals want to create new content based on someone else's IP, the licensing process can be very complex. They need to contact the IP owner to negotiate various terms such as license type, scope of use, territorial restrictions, royalty rates, and related fees. While these steps may be manageable for large corporations with ample funds and resources, for most individual creators, these cumbersome negotiation processes undoubtedly set a high barrier, increasing the difficulty of creation.

• Revenue Distribution Disputes: Although licensing agreements typically specify the royalties to be paid, disputes still frequently occur for various reasons. For example, misunderstandings about the calculation of royalties can lead to disputes over total revenue, net profit, discounts, shipping costs, and tariffs. Additionally, companies may manipulate financial statements to reduce the amount of royalties they need to pay. This means that even with clear agreements, disputes over royalty calculations and payments can still arise in practice.

• Legal Barriers: The laws and regulations regarding the registration, protection, and use of IP are very complex and involve high costs that may be unaffordable for individuals, thereby limiting their development in the fields of creation and innovation.

• Cross-Border Complexity: Since IP laws and regulations vary from country to country, handling IP issues internationally requires compliance with the legal requirements of multiple countries, increasing the complexity of legal procedures.

With the acceleration of the global digitalization process, the number of IPs is growing rapidly, but the IP industry still faces many challenges due to the limitations of traditional management systems. Story Protocol aims to address these issues by tokenizing IP assets and introducing blockchain technology to improve the efficiency and transparency of the IP market.

Future Development of StoryProtocol
With the rapid development of AI technology, Story Protocol's network is expected to become the cornerstone of the new smart economy. AI operates on IP, and Story Protocol makes IP programmable, opening up new possibilities for future innovation and collaboration.

Through these initiatives, Story Protocol is leading us into a new era of AI economic prosperity, providing entirely new solutions for the management and trading of intellectual property.