Have you noticed a phenomenon recently? The popularity of Brc20 has passed, and the price has also come down. Now when I go to make inscriptions, is it no longer as profitable as when it was so popular at the beginning?
So remember not to touch projects that are not popular. Of course, there are some innovative applications that may become the leader of one party's agreement in the future.
The main project introduced today: Story Protocol
In today's society, one of the more annoying things is the problem of piracy. Pirated works are more and more rampant, and creators are restricted by the existing system and cannot get the due profits.
In fact, copyright has always been a controversial issue in the Web3 industry.
The three core characteristics of blockchain - transparency, traceability and immutability - provide powerful tools for intellectual property management.
Story Protocol attempts to solve the problem more deeply from different perspectives. Although there is still no answer to how much creators should earn, Story Protocol changes the structure of the existing market business model in a way that improves efficiency.
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What is Story Protocol?
Story Protocol is an innovative blockchain-based intellectual property (IP) protocol that aims to revolutionize the way intellectual property is created, managed, and licensed in the digital age.
It provides a global, scalable library of intellectual property assets, enabling creators to leverage a decentralized ecosystem that enables them to protect, monetize, and collaborate on their creative works with unparalleled transparency.
What is the purpose of the Story Protocol intellectual property agreement?
Story Protocol’s core goal is to disrupt the traditional landscape of intellectual property management by leveraging the transformative power of blockchain technology.
The protocol aims to empower creators by providing them with a platform that enables unlimited creativity.
Story Protocol provides a simplified framework to manage the entire lifecycle of IP development, supporting features such as provenance tracking, frictionless licensing, and revenue sharing. Designed for creators of all media (prose, images, games, audio, etc.), applications built on Story Protocol enable writers and artists to track the provenance of their work, allowing anyone to contribute and remix while capturing the value of their contributions.
By building a system centered around creators and contributors, encouraging participation and ensuring clear IP ownership, Story Protocol helps creators grow their IP into a platform with network effects, where contributors play a key role. In a software platform, network effects occur when each participant who joins the ecosystem adds incremental value to the entire ecosystem.
What are the current problems and solutions for Story Protocol?
question:
1. The issue of income distribution. 2. Issues of intellectual property protection. 3. The problem of not keeping up with the times.
Solution:
(1) Create an IP library that records IPs and derived links, which can be traced back and then accounted for.
(2) Make combinable components and IP copyright Lego to provide diversified functions. The idea of combining IP and DeFi, of course, officials also mentioned that many entrepreneurs need to work together to build projects and applications based on Story Protocol to build this system.
(3) Put intellectual property on the blockchain to ensure authenticity, traceability and openness.
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Benchmark products:
This project belongs to the social data sector, and the services and market direction are different from the social products currently on the market, but they are basically the same.
Similar benchmarking products include:
Galex (GAL) currently has a market cap of $131 million.
Decentralized Social (DESO) currently has a market capitalization of $97.1 million.
Since projects in the same track do not have such a financing background, the view that can be given is that it may be the leading project in the IP social sector. There are very few products in the social sector led by a16z, so the only competitor of Story Protocol in the social sector may be Galex.
Project name: Story Protocol
Chinese translation: Story Protocol
Section: On-chain IP protocol Basic section
Issued: 1 billion (small circulation)
Investment institution: a16z led the investment with US$25 million, totaling US$54 million
Other investors include: Hashed (the largest blockchain fund in South Korea), Endeavor (the agency behind Gu Ailing), Samsung Next, Foresight Ventures (a crypto investment institution in Shanghai), Dao5 (a game company), Insignia Venture Partners (a venture capital company in Singapore), Alliance DAO, Mirana Ventures, and angel investors TPG Capital founder and chairman David Bonderman, Dapper Labs founder and CEO Roham Gharegozlou, etc.
Expected launch time: Q1 2024
Locking rules: No locking
in conclusion
Story Protocol’s recent $54 million funding round, led by A16Z, marks a major milestone in IP ownership, with significant funding and a visionary team.
Story Protocol is a groundbreaking approach to IP management that provides creators with the tools and opportunities to thrive in the evolving digital landscape. Providing a brighter, more equitable future for content creators and IP owners around the world.
The community is currently sending out:
L2 track ZK leader: zksync, backed by Little Fox: linea, infrastructure track: nxyz, Ai track: Gensyn, SocialFi track: enemy, intellectual property agreement: Story Protocol
Focus on the primary and secondary markets of the cryptocurrency circle. Dedicated to researching primary skyrocketing currencies and secondary high-quality potential currencies. V: wu354133 No threshold, no fees, no exchanges, no trading links.
