Story IP to establish $10 million fund with world’s second largest exchange OKX to nurture the IP ecosystem

Intellectual property (IP) blockchain platform Story IP announced on the 24th that it will establish an ecosystem investment fund worth $10 million (approximately ₩13.6 billion) in partnership with OKX Ventures, the investment arm of OKX, the world’s second-largest global crypto exchange.

Story IP is a Layer1 project launched with the goal of becoming an irreplaceable transaction infrastructure in the blockchain-based intellectual property (IP) industry.

Story IP has recently garnered attention by acquiring the IPs of globally renowned artists such as BTS, Selena Gomez, Justin Bieber, BLACKPINK, Maroon 5, Miley Cyrus, and aespa. It is also known that the largest U.S. venture capital (VC) a16z made three consecutive lead investments and that the biggest U.S. crypto asset manager, Grayscale, selected it as a TOP 20 coin for Q2 this year.

This is the third time OKX Ventures has jointly established an ecosystem investment fund with a blockchain infrastructure project. OKX has previously established $10 million ecosystem investment funds with the blockchain project TON (The Open Network), which was launched based on Telegram with over 1 billion monthly active users (MAU), and with the infrastructure blockchain project Aptos (APT), founded by former Meta (formerly Facebook) developers with a total scale of around ₩4 trillion.

Through this agreement, Story IP plans to jointly manage the entire process with OKX Ventures, from selecting investment targets to evaluation and execution. The goal is to support the nurturing of various ecosystem projects operating on the Story blockchain, and further, to create real-world use cases for the Story blockchain.