PIP Labs, the developer of Story Protocol, has just cut approximately 10% of its workforce as part of a strategic restructuring aimed at focusing more heavily on intellectual property infrastructure for artificial intelligence (AI). This move reflects a general trend in the blockchain and AI technology industry, as many projects are adjusting their resources to pursue areas with long-term growth potential.
According to industry sources, the layoffs affect a total of eight employees, including five full-time staff and three associates. The affected departments are reportedly within organizations directly involved with the Story Protocol ecosystem, including the Story Foundation and the Poseidon infrastructure project. These entities play a crucial Vai in developing the foundational technology and expanding the partner network for the protocol.
Speaking on behalf of the leadership team, Andrea Muttoni – Director of Protocol at Story – stated that this personnel adjustment aims to help the company focus more deeply on core areas while optimizing resource utilization during a period of significant market volatility in the technology sector. According to him, PIP Labs will increase investment in intellectual property infrastructure for AI, particularly solutions related to AI model training data and applications centered around AI agents – a field attracting considerable interest from technology investors.
Not long before that, OP Labs, the company that developed Layer-2 Optimism, also took similar action. Specifically, the company will lay off approximately 20% of its employees in the near future as part of a streamlining strategy.
