Unlocking $80T in Cultural Value: Korea’s IPs Tokenized for Global Investment

Seoul Exchange, one of only two licensed platforms for trading unlisted securities in South Korea, has announced a strategic collaboration with Story Protocol to exclusively use its blockchain infrastructure for settling tokenized real-world assets (RWAs). This partnership aims to tokenize Korean cultural and intellectual property (IP) assets, including K-pop royalties, K-drama rights, webtoons, and patents, creating a new class of compliant, investable digital securities. The agreement positions Story’s Layer-1 blockchain as the primary infrastructure for Seoul Exchange’s RWA initiatives over the next three years, with transactions powered by Story’s native token ($IP) to facilitate a fully on-chain marketplace for previously illiquid assets [1].

The initiative targets Korea’s $450 billion crypto market, the world’s second-largest by trading volume, by leveraging blockchain to tokenize global cultural phenomena. Notable IPs already registered on Story include BLACKPINK, BTS, Psy, and Pinkfong (Baby Shark). Seoul Exchange, operating under the Korean government’s financial regulatory sandbox, has secured investments from leading VCs such as Hashed, SoftBank Ventures, and POSCO Technology Investment. The platform will list assets ranging from music rights to patents, enabling retail and institutional investors to trade within Korea’s evolving STO regulatory framework [1].

Story Protocol, backed by $136 million from a16z, Polychain, and Samsung Ventures, launched its mainnet in early 2025 and has rapidly expanded its ecosystem. The blockchain is designed to make IP programmable, embedding royalties and usage terms directly into tokenized assets. This collaboration aligns with South Korea’s broader push to tokenize securities, supported by recent legislative updates that recognize blockchain for record-keeping and enable financial institutions to issue digital assets [2].

The partnership addresses structural challenges in monetizing IP, which remains largely inaccessible to global investors. By tokenizing IP, Seoul Exchange and Story aim to unlock an estimated $80 trillion in value tied to intellectual property, enabling fractional ownership and transparent trading. This model allows creators to retain ownership while engaging in distribution agreements that ensure sustainable revenue streams. For instance, platforms like Netflix currently hold IP rights, limiting long-term value for creators, but tokenization could shift this dynamic by involving fans and investors directly in funding and production [1].

Leadership from both organizations emphasized the strategic importance of the partnership. JD Yang, CEO of Seoul Exchange, stated the collaboration strengthens the STO exchange’s stability and trust, aiming to establish it as Korea’s leading platform for IP-centered tokenization. Seung-yoon “SY” Lee, CEO of Story Protocol, highlighted the move as a landmark step in making Korea’s cultural IP accessible to global investors, positioning Story as the blockchain gateway for cultural capital [1].

The platform is designed to integrate a Korean won-pegged stablecoin if approved by regulators, aligning with domestic financial infrastructure. This would enhance liquidity and ease cross-border transactions, supporting Seoul Exchange’s goal to bridge Korea’s cultural industries with global capital markets. Future plans include expanding to financial products, remix licenses, and governance layers, further programmability to static IP rights [1].

This partnership underscores South Korea’s growing role in the RWA space, leveraging its status as a hub for digital innovation and cultural exports. By tokenizing IP, Seoul Exchange and Story Protocol are not only addressing market inefficiencies but also fostering a new economy where creators, investors, and fans can share in the value of global cultural assets. As regulatory frameworks evolve and institutional adoption accelerates, the collaboration could set a precedent for how RWAs are integrated into traditional financial systems, both in Asia and beyond [1].