Official announcements from Story Protocol, industry reports, or reputable news sources

Story Protocol Launches Story Network for Multi-Trillion Dollar IP Management

Jul 9, 2024, 04:42 PM

Story Protocol has introduced Story Network, a blockchain platform designed to manage intellectual property (IP) in the digital age. The platform, also known as Story L1, aims to tokenize the multi-trillion dollar IP asset class, making it liquid and programmable. It incorporates a Proof of Creativity protocol to ensure the attribution and monetization of creative works. The platform allows content to be transformed into IP legos with a monetization API, enabling creators to track IP usage in AI and reward original creators. This innovation is seen as a significant step in protecting and managing digital art, IP, and creativity within a royalty-preserving framework. The platform also leverages AI-powered creativity to enhance the creation and management of IP in multi-dimensional ways.