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  • Story Protocol launches global IP blockchain on July 11, 2024
  • Empowers creators to monetize intellectual property across media
  • Built on EVM L1 of Cosmos SDK for seamless scalability
  • Secures $54M funding from a16z, Hashed, and more

Empowering Creators with Story Network

Story Protocol has officially launched its groundbreaking global IP blockchain, the Story Network, as of July 11, 2024. This innovative platform is designed to revolutionize how creators monetize their intellectual property (IP) across various media and applications. By transforming creative assets into programmable IP building blocks, Story Network allows creators to generate revenue from derivative works and agreements. The entire process is managed and tracked seamlessly on the blockchain, ensuring transparency and efficiency.

The launch of Story Network marks a significant step forward for content creators. Traditionally, monetizing IP has been a complex and often challenging process, fraught with legal hurdles and tracking difficulties. Story Protocol aims to simplify this by providing a streamlined, blockchain-based solution. This platform empowers creators by giving them control over their IP, allowing for easier management and monetization of their creative works.

Optimized for Scalability and Integration

Built on the EVM L1 of the Cosmos SDK, the Story Network is specifically optimized at the execution layer to support graph data structures. This technical foundation is crucial for handling the complexity and volume of IP transactions in the digital age. The use of graph data structures allows for seamless integration and scalability, making the Story Network a robust solution for managing large-scale IP transactions.

The choice of the Cosmos SDK and its EVM compatibility ensures that the Story Network can integrate with a wide range of existing blockchain applications and services. This compatibility is vital for fostering a vibrant ecosystem where IP can be easily exchanged, modified, and monetized across different platforms.

Strong Financial Backing and Expert Leadership

Story Protocol’s launch is bolstered by an impressive $54 million in funding, led by Andreessen Horowitz (a16z). Other notable contributors include Hashed, Endeavor, Samsung Next, dao5, and Insignia Venture Partners. High-profile investors such as Paris Hilton’s 11:11 Media and David Bonderman, Founder & Chairman of TPG Capital, also support the initiative. This strong financial backing underscores the confidence investors have in the potential of Story Protocol to transform the IP management landscape.

The team behind Story Protocol comprises co-founders with extensive backgrounds in technology and entertainment. Seung Yoon Lee, the founder of Radish, and Jason Zhao, a former product lead at Google’s DeepMind, bring a wealth of experience and vision to the project. Additionally, acclaimed filmmaker David Goyer has joined as an advisor, offering his expertise in storytelling across various mediums. This blend of technological prowess and creative insight positions Story Protocol to effectively bridge the gap between technology and creative industries.

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