Blockchain Lets Creators Remix IP, Retain Ownership and Share Revenue

Barunson, the acclaimed South Korean studio behind the Academy Award-winning film Parasite, has announced a partnership with the Story Foundation to launch nPLUG, a blockchain-based platform for legally remixing cultural intellectual property (IP). Set to debut in Q4 2025, the platform leverages Story’s programmable licensing infrastructure to enable fans, creators, and studios to remix and monetize IP while ensuring transparent royalty distribution and ownership retention Barunson, Studio Behind *Parasite*, to Launch nPLUG IP Remixing Platform on Story and Bring Flagship IP Onchain^[1]. This initiative aims to address structural issues in the entertainment industry, where creators often cede control and long-term value to platforms like Netflix, which dominate IP ownership .

nPLUG operates on Story’s Layer-1 blockchain, designed specifically for IP management. The platform allows users to mint remixes as on-chain assets with embedded licensing terms, automated royalty splits, and trackable attribution. Smart contracts enforce permissions, handle provenance, and unlock new monetization channels for both original rights-holders and remix creators. For example, revenues from advertisements or in-app purchases (IAP) will be automatically shared between original IP owners and derivative works . This model transforms cultural IP from static content into a dynamic, participatory asset, enabling global collaboration while preserving ownership Barunson, Studio Behind *Parasite*, to Launch nPLUG IP Remixing Platform on Story and Bring Flagship IP Onchain^[1].

Barunson, known for producing globally successful works such as Parasite, Squid Game, and Baby Shark, is porting its flagship IP to the Nproject platform, Story’s Web3 division. The studio’s 340 billion KRW K-content investment fund underscores its commitment to fostering a decentralized creative economy. By tokenizing IP, Barunson aims to transition K-content from a consumable product to an expandable, revenue-generating ecosystem Barunson, Studio Behind *Parasite*, to Launch nPLUG IP Remixing Platform on Story and Bring Flagship IP Onchain^[1]. The platform’s launch coincides with South Korea’s $12 billion annual K-content exports and one of the world’s most engaged fan economies, positioning the country to lead the shift toward a blockchain-driven creative sector .

The platform’s Programmable IP License (PIL) framework, a universal licensing agreement, bridges real-world IP with on-chain tokenization. It allows creators to set rules for commercial use, remixing, and revenue sharing, with smart contracts enforcing these terms. For instance, a creator could permit non-commercial remixes or specify a percentage of revenue from commercial derivatives. This aligns with Story’s broader mission to make IP an internet-native asset class, supported by $136 million in venture funding from firms like a16z and Samsung Ventures . The PIL also ensures legal enforceability across jurisdictions, addressing a critical gap in traditional IP systems .

Barunson and Story plan to accelerate adoption by advancing blockchain-based IP monetization models and launching an IP investment fund within the year. This aligns with South Korea’s broader blockchain ecosystem, which has attracted institutional interest and innovation despite regulatory challenges. The collaboration reflects a strategic shift toward Web3 solutions, with Barunson’s CEO Shin-Beom Kang emphasizing the need for a “transparent and fair IP ecosystem powered by global fandom” . Similarly, Story’s CEO Seung-yoon “SY” Lee highlighted the platform’s potential to enable creators to “raise capital directly from fans and turn their stories into globally investable franchises” Barunson, Studio Behind *Parasite*, to Launch nPLUG IP Remixing Platform on Story and Bring Flagship IP Onchain^[1].

The nPLUG initiative underscores South Korea’s growing influence in blockchain and decentralized finance (DeFi). With over 6.45 million active crypto users in 2023 and a projected $287 billion STO market by 2030, the country is poised to drive tokenization trends globally. nPLUG’s focus on cultural IP remixing could further solidify Korea’s role as a blockchain leader, leveraging its creative output and tech-savvy population to pioneer new economic models .