Story Protocol Launches Public Mainnet
The purpose-built blockchain aims to support decentralized management of intellectual property rights, addressing among others the issue of unauthorized use and infringement by generative AI
Story Protocol is launching its public mainnet today and introducing its native token, $IP. The company hopes to completely change intellectual property (IP) management in the Web3 space.
Story's Public Mainnet launches on Thursday, February 13th.$IP claim and checker go live on the same day.
— Story (꧁IP꧂) (@StoryProtocol) February 11, 2025
The world's IP, in your hands. ꧁IP꧂ is inevitable. pic.twitter.com/ArGKAU23yJ
Founded in 2022 by former Google DeepMind product manager Jason Zhao, Story Protocol addresses challenges in AI-driven content remixing and IP monetization. Backed by Andreessen Horowitz and other investors, the protocol has raised $134 million across multiple funding rounds, positioning itself as a leader in decentralized IP ownership.
The protocol seeks to create an open market for programmable IP, enabling creators to register, monetize, and protect their digital assets—including artwork, music, code, and other digital creations—directly on the blockchain.
The rapid advancement of generative AI has introduced new challenges in IP management. AI models often train on vast datasets that include copyrighted materials, raising concerns about unauthorized use and infringement. Traditional IP frameworks struggle to address these complexities, as they were not designed for AI-generated content, leading to legal disputes and uncertainty over ownership and rights.
The need for innovative IP solutions is underscored by recent legal actions, such as Scarlett Johansson’s lawsuit against OpenAI for allegedly creating a voice assistant resembling her performance without permission. Cases like this highlight the limitations of current IP models and the necessity for systems that embrace internet openness while safeguarding creators’ rights.
Story Protocol is purpose-built for IP management. In addition to standard blockchain architecture, it features a dedicated layer with protocols for ownership registration, timestamping, updates, transfers, licensing, and other transactions essential for protecting creators' rights.
The $IP token, with a total supply of 1 billion, will facilitate transactions, governance, and creator payments. It will launch with an initial staking phase called "Singularity," with rewards distribution beginning on March 2.