Projects that have recently received high funding have been launched in succession. Will Story be able to break this curse?
Recently funded projects have launched tokens, including Solv, Berachain, Solayer, and B3. Due to the generally negative sentiment towards Altcoins at the moment, the performance of the new tokens on most exchanges has not met expectations. Will the Story Protocol - backed by renowned investment firms like a16z and Polychain - be able to break this deadlock?
What is Story?
Story Protocol is a Layer 1 blockchain designed specifically for Intellectual Property (IP). Its core idea is to use blockchain technology to digitize, record on the chain, and automate the management of Intellectual Property rights. Specifically:
- Digitization of IP assets: Each IP asset is represented by an ERC-721 compliant NFT, ensuring the uniqueness and immutability of each IP. Additionally, the Token Bound Account (TBA) based on the ERC-6551 standard is used as a dedicated IP account to store metadata, licensing information, and copyright records related to the IP.
- Modular design: Story Protocol has built multiple functional modules, including authorization, copyright, dispute resolution, and grouping, allowing the automation of IP authorization, revenue distribution, and dispute resolution through smart contracts.
- AI agents and trading marketplace: Story's dedicated TCP/IP protocol for Agents allows AI agents to interact and trade IP assets, such as training data and creative styles, thereby driving the financialization and commercialization of IP.
Story Protocol is not just a typical IP blockchain. Its innovation lies in the integration with AI agents:
- ATCP/IP protocol: Empowers AI agents and establishes a decentralized IP trading workflow, from request, term negotiation to payment and delivery, which can be automated.
- AI agent applications: Whether it's AI artists (like Zerebro), virtual idols (like Luna), or crypto market analysts (like AIXBT), they can all achieve autonomous collaboration and efficient IP trading through Story.
IP Tokenomics & Valuation
Core functions of the $IP token:
- Staking: Users can stake $IP to participate in the PoS consensus, ensuring the security and stability of the network.
- Transaction Gas: $IP serves as the transaction fee token of the network, used to pay various transaction fees (e.g., authorization and royalty distribution fees), and a portion of $IP will be burned in each transaction, which may lead to deflation in some cases.
- Ecosystem governance: $IP holders participate in ecosystem governance and decide on the future development direction.
$IP distribution structure:
- 38.4% for the ecosystem and community: This will support community building, incentive programs, and the promotion of projects within the ecosystem.
- 10% for initial incentives: Used to reward early participants in the ecosystem.
- 10% for the Foundation: Support the long-term development of the project, research, and ecosystem resource reserves.
- 21.6% for early investors: Reward the initial investors and risk-takers.
- 20% for core contributors: Reward the core team and those who have made significant contributions to the project.
Additionally, the initial supply of $IP is set at 1 billion tokens, of which only 25% will be unlocked initially, with the remaining to be gradually released according to a 48-month unlock plan.
According to Rootdata, the latest valuation of the Story Protocol is $2.25 billion FDV, with a total supply of 1 billion tokens and a price of $2.25 per token, ranking around 68. Calculated at $2.25 per token and an initial 25% circulating supply, the market capitalization will be around $562.5 million, ranking 143. Currently, the over-the-counter price is around $3.5, and it is crucial to monitor whether the price will fall below $2.25 after listing.
Overview of the Ecosystem Projects
The Story Protocol ecosystem is extremely rich, covering many areas from AI/AIGC, DeFi/IPFi, Metaverse and GameFi, RWA (Real-World Assets), social applications to infrastructure. Here is a brief introduction to some of the major projects in the ecosystem:
AI / AIGC field:
- Stability AI: Developer of AI models that generate famous images and media.
- Flock.io: Decentralized AI training platform based on federated learning.
- Dria: Decentralized multi-agent network that can convert idle computing power into aggregated data.
- Ritual: Focuses on integrating AI into blockchain and maintaining model developers' Intellectual Property rights.
- Holoworld: Platform launching multimodal AI agents supporting text and voice interaction.
- Mahojin.ai: AI generation platform based on search, combining Story's Intellectual Property library to provide creative inspiration.
- MyShell, Poster, SoloAI: Explore building no-code AI applications, creating chain-based stickers, and generating music, respectively.
- BlockBook, Sekai, PlayArts, Morphic and other projects are also leveraging Story's Intellectual Property mechanism to empower creators in their respective domains.
DeFi / IPFi Domain:
- Mycelium Network: Provides cross-chain Intellectual Property asset management and trading infrastructure.
- 1Combo, PIPERX, Unleash Protocol: Building decentralized Intellectual Property trading and licensing platforms.
- Verio: Launched the world's first Intellectual Property verification service, supporting Intellectual Property Liquidation staking.
- Color Marketplace, Storight, Story Hunt and other platforms focus on trading and providing Liquidation for Intellectual Property assets.
Metaverse and GameFi Domain:
- Emergence, EON RIFT, Gomble Games: Building digital universes based on Story, combining science fiction, comics, and gaming elements.
- PunkgaMe, Globkins, Jutsu World, Infinite Seas, Pixelmon and other projects are exploring Intellectual Property applications in comics, card games, and virtual trading.
Real-World Assets (RWA) Domain:
- Aria: Uses the Story Protocol to tokenize assets like music, achieving asset financialization.
- Zeal, Rightsfully, Singular, Loudr and other projects specialize in bringing traditional cultural assets, films, and music onto the chain to protect creators' rights.
Social Applications and Infrastructure Domain:
- Koniverse, orb.club, Spotlight Protocol, Magma and other applications support social interaction and content sharing, promoting widespread Intellectual Property circulation.
- LayerZero, Goldsky, Stakeme, Pimlico.eth, Privy, Blockdaemon, RedStone, Dynamic, Kaito and other projects form a complete infrastructure of cross-chain protocols, data indexing, verification, and security in the Story ecosystem.
