A New IP Era: Corporate Treasuries Redefine Digital Ownership

Story Protocol’s native token, IP, surged to an all-time high of $11.66 on Sept. 10, driven by the growing momentum of corporate adoption and strategic developments in the intellectual property (IP) tokenization space. The token added 30% in the previous 24 hours, with its highest trading volume since February. This rally coincided with Heritage Distilling’s announcement of its next steps in building an IP reserve treasury, a move expected to solidify the token’s role in the intersection of AI, data, and intellectual property.

Heritage Distilling, previously known for its pivot to an altcoin treasury model, revealed plans to transform into a public vehicle focused on acquiring IP tokens. The company emphasized the protection of intellectual rights against AI model training demands and will establish an advisory board featuring industry figures such as Erick Zhang, co-founder of Nomad Capital and former CEO of CoinMarketCap. Seung Yoon “SY” Lee, Chairman of the Heritage Advisory Board, noted that the firm’s new strategy aims to position shareholders in one of the most important shifts of the decade: the programmable asset class of intellectual property.

The IP token's performance is part of a broader trend in RWA (real-world asset) tokenization, particularly in the area of intellectual property. Story Protocol, which aims to become the “world’s IP chain,” reported that its ecosystem has reached a new all-time peak in value locked, currently holding $41.42 million in TVL. The chain also processes around 11,000 daily active addresses, comparable to other Web3 platforms. The recent price rally reflects not only increased institutional interest but also a surge in Korean won trading volume, where over 18% of all IP transactions occur.

Alongside IP, other altcoins such as MYX Finance and Worldcoin also saw significant price gains. MYX Finance, which recently surged after being listed on Gate.io, hit a record high of $18, with a 24-hour trading volume nearing $1 billion. Meanwhile, Worldcoin (WLD) rallied as Eightco announced a $250 million treasury bet on the token, further validating the broader corporate treasury strategy in the crypto space. These movements highlight how the treasury model, when applied to promising tokens, can drive substantial short-term momentum.

However, analysts caution that the rapid price increases for tokens like IP and MYX Finance come with risks. MYX Finance, for instance, has reached overbought levels, with its RSI hitting 97 and forming a potential double-top pattern. This suggests a mean reversion could be imminent. Similarly, while the IP rally appears strong, it is partly fueled by speculative hype and the liquidity of the Korean won market. Investors are advised to monitor both on-chain activity and broader market sentiment to gauge the sustainability of the current trends.

The continued interest in IP tokenization and corporate treasuries signals a growing recognition of intellectual property as a digital asset class. With global intellectual rights valued at over $80 billion and expected to grow further as AI and data-driven technologies evolve, the corporate-backed tokenization strategy could represent a long-term investment thesis. For now, however, the success of these tokens will depend on the execution of corporate strategies and the ability to maintain institutional and retail demand.