IP Story

Tokenizing Intellectual Property

Story is designed to tokenize and manage intellectual property (IP) on the blockchain. It allows creators to register their IP as digital assets, set usage terms, and automate licensing and royalty payments. This makes IP more accessible, programmable, and liquid in the digital world.

Powering an IP Economy

The Story blockchain enables a new economy around intellectual property. Creators can monetize their work more easily, while users and businesses can license IP through smart contracts. This creates new opportunities for collaboration, remixing, and financial participation in creative works.

Supporting AI Development

Story provides infrastructure for managing AI-related IP. Dataset owners can register and license their data for AI training. AI models themselves can be tokenized as IP assets. This helps address challenges around AI copyright and compensation as the technology evolves.

Governance

The IP token is used for voting on protocol upgrades and changes, allowing token holders to participate in shaping the future direction of Story. This decentralized governance model gives the community a say in how the platform develops over time.

Pros of Story

Story offers some cool benefits for creators and users. It lets people register their creative work on the blockchain, which means they can prove ownership easily. Creators can set up automatic licensing and get paid whenever someone uses their stuff. It's great for collaboration too - different people can work together on projects and know they'll get credit. Story also makes it simpler to buy, sell, and trade creative works as digital assets.

Cons of Story

There are a few potential downsides to consider with Story. Like other crypto projects, it might be tricky for beginners to understand at first. The value of tokens on Story could go up and down a lot. There's also a chance that not many people will use it right away, which could limit how useful it is at the start. Creators will need to learn new tech skills to take full advantage of Story's features.

Impact on the Creative World

Story has the potential to shake things up for artists, writers, game makers, and other creative folks. It gives them new ways to make money from their work and connect with fans. But it will take time for people to get used to this new system. Big media companies might not like how it changes things. Overall though, Story opens up exciting possibilities for a more open and fair creative economy.

Founders

The main founders of Story are:

• S.Y. (Seung Yoon) Lee: CEO and co-founder of Story. Previously founded Radish, a mobile storytelling platform that was acquired for $440 million.

• Jason Zhao: Co-founder of Story. Has experience working at companies like Pocket Gems, Amazon, and Apple.

Key Team Members

Story also has other important team members, including:

• Weilei Y.: Head of Ecosystem and Growth at Story. Brings both practical experience and academic background to the role.

Investors

Story has received significant backing from notable investors:

• Andreessen Horowitz (a16z): Led multiple funding rounds for Story, including an $80 million Series B.

• Polychain Capital: Participated in Story's funding rounds.

• Other investors include Scott Trowbridge from Stability AI and the NFT collector Cozomo de' Medici.

Funding

Story has raised substantial funds to develop its intellectual property blockchain:

• Total funding of $140 million across multiple rounds.
• Most recent Series B round raised $80 million.
• Current valuation of Story is reported to be around $2.25 billion.

Major Investors

Story has attracted investments from several prominent firms and individuals in the crypto and tech space. The main backers include:

• Andreessen Horowitz (a16z): Led Story's $80 million Series B funding round
• Polychain Capital: Participated in the Series B round
• Scott Trowbridge: SVP of Stability AI
• Adrian Cheng: Founder of K11
• Cozomo de' Medici: Digital art collector

Total Funding

Story has raised significant capital across multiple rounds:

• Series B: $80 million (August 2024)
• Series A: $24.7 million (September 2023)
• Seed Round: $29.3 million (May 2023)

This brings Story's total funding to $134 million as of early 2025.

Investment Focus

Investors seem drawn to Story's vision of:

• Creating an "IP blockchain" to help creators protect and monetize their work
• Addressing challenges around AI and content ownership
• Building infrastructure for a new model of creator economics in the digital age

Islamic Compliance

Yes, Story is considered halal by many Islamic scholars. The main reasons are:

• No interest involved in transactions
• Can be owned and traded like other assets
• Used for legitimate business purposes
• Follows principles of fairness and transparency

Key Considerations

Some factors that support Story's halal status:

• Backed by real-world assets and projects
• Not used for speculation or gambling
• Transactions are clear and traceable
• Aligns with Islamic finance principles of risk-sharing

Expert Opinions

Several respected Islamic finance experts have weighed in:

• Mufti Muhammad Abu-Bakar deemed cryptocurrencies permissible
• Sharia Review Bureau in Bahrain stated crypto investments can be halal
• Malaysian Sharia Advisory Council allows crypto trading

Practical Applications

Ways Muslims can use Story in accordance with Islamic principles:

• Investing in Sharia-compliant projects
• Making charitable donations and zakat payments
• Conducting international transfers without fees
• Participating in halal business ventures