Today we’re announcing that @a16zcrypto is leading an $80M Series B financing of PIP Labs, developer of @storyprotocol.

Story is a blockchain protocol that allows creators to register their IP so they can track and monitor use, protecting their legal and economic rights. The goal is to create foundational infra that can underpin a new economic covenant between creators and platforms.

The team behind Story has deep tech and creative expertise. CEO/cofounder @s-y-lee has impressed us with big-picture vision and world-class tactical execution. Cofounder @jasonzhao  studied CS at Stanford, dove deeper into AI at DeepMind, and now leads technical development on Story.

For AI systems and creative people to happily co-exist, creators need a modern way to ensure they get compensated for their work. Story takes a proven approach — IP law — and updates it for the age of AI.

We are excited to support the Story team on this important mission.

https://a16zcrypto.com/posts/article/investing-in-story

After hearing about Story's impressive funding, I set out to understand its value proposition as a blockchain-based IP solution. 

Through interviews with Story's CEO and articles on story.foundation, I began to appreciate the ingenuity of Story Protocol. They're targeting the $2.46 trillion IP market with a "programmable IP layer" designed to address the inefficiencies of traditional systems, enabling seamless remixing, licensing, and royalty sharing.

Very importantly, in the current narrative where crypto and AI are booming, Story is perfectly aligned with the times. They plan to construct an ecosystem that turns AI models, training datasets, and outputs into "IP Legos" with built-in licensing and royalty terms. This undoubtedly raises the ceiling of what Story can imagine and achieve.

Looking forward to seeing products on Story's eco that let creators and consumers experience their IP approach.
https://www.youtube.com/watch?v=3xAyUqBuSRo

crypto-anarchist · onchain social explorer, curator, advisor · host /luo · write 0xluo.xyz

Initially, I scoured platforms like Mirror and Paragraph, which are known for their high-quality articles, but unfortunately, the lack of a search engine made it difficult to find specific information on Story. 🫠

NFT Collector | Crypto Trader | OGs Holder

Alhamdulillah 

A protocol that's been around for a while but I haven't paid much attention to, though I should have.

DevRel @storyprotocol
IP is everything
Alumni @learnweb3 
Ex @bnbchain @flock_io 
Building /creader

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From a first pass on research, I don't get why they couldn't build it on Eth / L2s.

One thread from the CEO had an answer the that the "amount of connections between IPs" grow as n^2 exponentially. and so they made a limit of 2 owners per IP, and then needed an L1 to scale. 

Which seems BS because they're mainly doing streams and splits for timestamped content (right?), which Sablier/Superfluid and 0xsplits / Reveel do.

But props for the hell of a raise, it's good if web2 content creators on the level of Disney start to try this alternative path to secure/remixable IP

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Such a great project, and also a great bag they secured!💰