Story Protocol launched its intellectual real estate-focused blockchain and associated IP token on Thursday.
Blockchain is located as “the world’s intellectual real estate network” that gives users a way to register their IP and track how others use it. The appropriately named “$ IP” token, which the story announced last week, is used for transaction fees and gives users a vote in the platform’s management system.
“The story creates a new standard for IP that makes the $ 61 trillion active class programmable, so IP is tracked, protected and earned money, giving everyone the opportunity to see the head,” the project said in a statement shared with Coindesk.
So far, the idea seems to have had legs – at least with investors. Pip Labs, the chain’s primary developer, raised $ 80 million in a series B Venture Foundure Round led by Andreessen Horowitz (A16Z), which brought the project’s total funding to $ 140 million.
Pip has tried to place history at the intersection of blockchain and artificial intelligence, a way for people to track and get paid for data used to train AI models.
“Without a large original IP, the AI models do not develop,” Pip Lab’s co-founder and CEO Sy Lee told Coindesk. Today, AI is “to take and steal all your data without your consent,” he said.
The story The Mainnet launch accompanies the first unlocking event to the just announced IP token. “The story is to unlock 25% of the initial $ 1 billion IP, with 58.4% set aside to the ecosystem and society, the foundation and the initial incentives,” according to the project.
