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Story Protocol, a San Francisco-based startup, has efficiently raised over $54 million in a funding spherical led by Andreessen Horowitz’s crypto arm, a16z crypto. The corporate goals to redefine the mental property (IP) panorama by providing an open infrastructure layer optimized for the web period. The venture has additionally onboarded filmmaker David S. Goyer, recognized for his work on the “Blade” and “The Darkish Knight” trilogies, as an advisor.
Democratizing IP Creation
Story Protocol is designed to handle your complete lifecycle of IP growth. It provides options akin to provenance monitoring, frictionless licensing, and income sharing. The protocol helps numerous media kinds, together with prose, photos, gaming, and audio. “In a world of whole abundance catalyzed by generative AI, blockchain expertise presents the right answer for clear provenance monitoring and truthful attribution,” stated Seung Yoon Lee, Co-Founding father of Story Protocol.
Ecosystem Growth
The venture goals to foster an ecosystem of third-party builders who can present providers like crowdfunding, capital formation, IP discovery, and group development. Its open and modular structure permits any utility to combine seamlessly, mitigating platform threat for builders.
Trade Assist and Participation
The funding spherical noticed participation from a various group of traders, together with Hashed, Endeavor, Samsung Subsequent, and dao5, amongst others. “Web3 has the promise to assist clear up a number of the longest-standing issues within the media and leisure industries,” stated Sriram Krishnan, Basic Associate at a16z crypto.
Advisor Onboarding
David S. Goyer, an advisor to Story Protocol, envisions a future the place creators have higher management over their IPs. “Story Protocol marks a brand new period for the leisure business and the beginning of a brand new possession mannequin for creators and followers,” Goyer stated.
Founding Staff
The founding crew of Story Protocol includes seasoned professionals with various backgrounds:
Co-founder Seung Yoon Lee beforehand based cellular serial fiction platform Radish.
Co-founder Jason Levy led content material at Episode.
Co-founder Jason Zhao served as a product lead at Google’s Deepmind.
Weilei Yu led development for Move blockchain at Dapper Labs.
Leo Chen was the founding VP of Engineering at Concord Protocol.
Ben Sternberg served as CFO of Radish Media.
Susan Park, a design lead at Google, can be a part of the crew.
Picture supply: Shutterstock
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