Once upon a time, we lived in a world without AI, and today, we live in a world where we won’t live without AI.
That being said, Intellectual Property (IP) is the world’s largest asset class and something AI can’t exist without.
This is where a new Story emerges…
What is Story Protocol?
Introducing Story Protocol and the newly airdropped $IP token, the latest EVM-compatible Layer 1 blockchain built with innovation and a purpose. The mission is simple: create and host the go-to blockchain for Intellectual Property (IP), a multi-trillion dollar asset class which can now be fully programmable, sovereign and liquid with Story Network.
Story Network, the world’s all-in-one Intellectual Property blockchain, is tokenizing IP so that it is monetizable, liquid and tradable for everyone across mediums and apps in the ecosystem. This is all possible thanks to its unique consensus mechanism, Proof-of-Creativity.
Supporting the vision of IP tokenization, we have the world’s leading VCs and investors backing the Story Protocol, which include major names such as a16z, Polychain, dao5 and many others that raised $80M for this innovative blockchain.
Why Do We Need Story Protocol?
The question is, why do we need Story, and why did it receive such huge investments?
In a world driven by AI, we need a network where intellectual property (IP) is tokenized into a programmable store of value. That is exactly what Story does, and this has created a new layer for AI agents, where IP has become fully tradable and monetizable for the first time ever.
AI Agents can easily monetize creative, scientific and intellectual works, or they can purchase training data to autonomously upgrade their capabilities. Industries worldwide will benefit from the new emerging ecosystem of applications and experiences tied with tokenized IP.
Built from the ground up, Story Protocol has emerged with an impeccable ecosystem of innovative applications surrounding IP. Ranging from DeFi to IPFi, Story has it all, and it is only growing larger. With an ecosystem of 25 projects, the Story network is truly growing into something special.
Story Network Statistics
Surging to success, the Story network has seen some surreal activity in its ecosystem with over 2.54M mainnet transactions already conducted and over 551K active wallet addresses exploring the network. Story is still in its early stages and preparing for a bull market that could accelerate its network activity tenfold or more.
Story Protocol Token ($IP)
In the midst of it all, we have the native token and driving source, $IP. $IP has many utilities, such as:
- The Gas token of the Layer 1.
- Acting as a proof of ownership for IP and digital assets
- The Monetization of IP (e.g. licencing).
- Accessibility to unique IP based on the token’s privileges.
- The ability to trade IP in a Decentralized Marketplace.
Conclusion
According to CoinMarketCap, at the time of writing, $IP is trading at $4.80 with a large market cap of $1.19B. As the $IP token is still very new, it is still finding its feet and has yet to adjust to market conditions. Although $IP achieved an ATH of $7.11, not far off its current price tag, once the market picks up, we could very well accomplish and set serious bars for a new ATH.
But, of course, only time will tell.
Story Protocol Links
Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
