Story Protocol Launches Public Mainnet, Empowering Creators with IP Token

Story Protocol, a Web3 intellectual property protocol, has confirmed the launch of its public mainnet on February 13. The mainnet launch will coincide with the release of the protocol's native token, IP, which will enable creators to monetize their content and protect their digital property.

The mainnet launch, as announced on the protocol's forum, marks a significant milestone in bringing decentralized IP ownership to the world. The IP token will be used for transactions, governance voting, and paying creators. The initial staking period, called "Singularity," will begin with the mainnet launch, followed by the distribution of rewards starting on March 2.

Story aims to make IP programmable by providing an open market for IP, enabling rights holders to register their content and program the terms and payment required for others to use it. Creators will be able to register their work directly on the blockchain, set up automatic licensing and revenue sharing, get paid directly without middlemen, and protect their work from unauthorized use.

Several exchanges, including Bitget, Bithumb, Bybit, KuCoin, Coinbase, and OKX, have already announced support for the IP token listing. Story was founded in 2022 by former Google DeepMind product manager Jason Zhao, who identified issues with AI remixing content without compensating creators.

Story Protocol is backed by high-profile venture capital firms, including Andreessen Horowitz, Polychain Capital, Hashed, and Samsung Next. It has raised a total of $134 million in funding, including a $29 million seed round in May 2023, a $25 million Series A round in September 2023, and an $80 million Series B round in August 2024.