Story "Realizing IP Monetization in the AI Era with Blockchain Infrastructure"

PIP Labs, the developer of the intellectual property (IP) blockchain platform Story, announced on the 6th that the global cryptocurrency media outlet The Block has published a report on Story titled 'Turning IP into Currency in the AI Era.'

Story is a Layer 1 (L1) blockchain platform designed to tokenize IP, protect it, and enable sharing or monetization. It gained attention as Andreessen Horowitz (a16z), a renowned venture capital firm in Silicon Valley, participated as the lead investor in three consecutive rounds. Story is the first blockchain project that a16z has led investment in for three consecutive times.

The Block also noted these features, explaining that Story has been recognized for its potential to reshape the AI-centric economy through a16z's investment. Specifically, The Block believes that Story's on-chain IP technology can address the unclear ownership issues and inefficient revenue generation structures of the existing IP market. In this regard, Chris Dixon, General Partner at a16z who led the investment in Story, has also evaluated that "Story is establishing the global standard for copyright licensing in the AI ecosystem." The Block stated, "Story will play a key role in the IP market, currently valued at $62 trillion."

The Block described Story as the 'NVIDIA of the IP industry.' Just as NVIDIA has innovated computing technology to alleviate bottlenecks in the AI industry, Story has solved the problem of securing and managing high-quality IP and data essential for AI. The Block stated, "Story has contributed to building the value chain of the AI economy as a decentralized IP infrastructure that manages ownership and revenue distribution of data and IP on-chain."

Meanwhile, Jason Zhao, co-founder of Story, recently appeared on The Block's podcast 'The Scoop' to emphasize the economics of on-chain IP. Zhao said, "On the Story platform, not only IP ownership management but also revenue distribution, lending, and fractional ownership, among other financial aspects of IP, are possible," adding that "creators can operate IP assets more efficiently and maximize profits."

Meanwhile, PIP Labs, the developer of Story, has accumulated investment funds of $140 million (approximately 200 billion KRW). The corporate value of PIP Labs amounts to $2.25 billion.