[ad_1]
Story Protocol, a decentralized platform focused on intellectual property (IP) management and ownership, has successfully raised over $54 million in a funding round led by crypto arm Andreessen Horowitz, .
The funding round involved multiple investors, including Endeavor, Hashed, and many other venture capital firms and individual investors.
According to the official press release from the company, Story Protocol aims to create an open infrastructure to revolutionize IP management. Story Protocol will offer a framework that covers the entire lifecycle of IP creation and ownership. This includes origin tracking, seamless licensing, and revenue sharing, designed for creators across media as diverse as prose, games, images, and audio.
Co-Founder Seung Yoon Lee stated that the platform aims to introduce a transparent tracking mechanism and fair attribution through blockchain technology. Story Protocol intends to provide existing intellectual property rights holders and new content creators with a radically different way to engage audiences and advance their intellectual property.
Open and Modular Architecture
Story Protocol’s architecture is open and modular, allowing third-party applications to easily integrate its services. This includes a wide range of features from crowdfunding and capital formation to intellectual property discovery and community growth. The decentralized nature of the platform is expected to reduce platform risks for ecosystem builders.
Among the participants in the funding round were influential names in the entertainment and technology industries. This includes David S. Goyer, best known for his screenwriting roles in the “Blade” and “The Dark Knight” trilogy, who will serve as advisor to the project.
Increasing Human Creativity
Ben Enowitz, SVP Corporate Development & Talent Ventures at Endeavor, stresses the role of technology in enhancing, not replacing, human creativity. In this aspect, Story Protocol aims to facilitate a platform where artists and fans can actively participate in the creative process, expanding the way intellectual property is developed and shared globally.
The Story Protocol team consists of experts with diverse backgrounds, ranging from entertainment and to . Co-founders include Seung Yoon Lee, who was previously the founder of the fictional mobile series platform Radish, and Jason Levy, who leads content on Episode. Other team members have played important roles in , and the Harmony Protocol, among others.
The funding aims to accelerate the development of the Story Protocol platform, which plans to enable new ways of handling intellectual property in an age of blockchain-powered internet that is now also driven by artificial intelligence. In this respect, the focus of the protocol is the mass democratization of intellectual property creation (as a process), thereby making it accessible and manageable on a global scale.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[ad_2]
Source link
