"Story Protocol Unveils Homer: Revolutionizing IP Market with AI and Blockchain"
1min read Story Protocol, a web3 intellectual property (IP) protocol, has launched its Public Mainnet, Homer, creating an open market for IP. The platform aims to make IP a secure foundation for others to build upon, supported by an ownership embedding components of Artificial Intelligence (AI).
Story Protocol was founded by PIP Labs, which has raised $140 million in total funding from a16z and Samsung Next. The platform addresses the challenges faced by creators in the $60+ trillion IP market, including ownership, licensing, and monetization issues. It seeks to solve these challenges by providing an open and programmable market for peer-to-peer IP exchange, enabling direct transactions between individuals without intermediaries.
The platform's $IP token, with an initial supply of 1 billion, serves as the network's underlying medium of exchange. IP enables efficient transaction processing and fair resource allocation through transparent fee payments. Validators stake IP as collateral to maintain network security, creating strong incentives for honest and efficient operation.
Story Protocol's flexible architecture enables the adoption of future cores that can expand beyond IP-related applications. By providing a universal repository and a programmable market for intelligence, the platform aims to increase humanity's intellectual output.
