Grayscale Investments has launched a new trust product called Story Trust, which provides investors access to Story Protocol's intellectual property tokens.
Announcement of Grayscale's Story Trust
Grayscale announced the launch of a new trust product, Story Trust, aimed at accredited investors, providing access to the protocol built around intellectual property. The protocol has been established to support a global intellectual property economy reportedly worth up to $80 trillion. Grayscale noted that this new initiative signals the high potential of the protocol in the information and AI era. Rayhaneh Sharif-Askary, head of product and research at Grayscale, stated: "Grayscale Story Trust gives investors exposure to a protocol shaping the foundational intellectual property layer for the information and AI era."
What is Story Protocol?
The Story Protocol blockchain network powers programmable intellectual property, allowing real-world data to be licensable, focusing on areas like music, media, personal likeness, and other data on-chain. The protocol addresses the challenges faced by traditional intellectual property systems, maximizing the potential for creators, companies, and AI agents alike. It is particularly relevant for data-driven systems, such as robots, surgical assistants, and autonomous vehicles.
IP Prices and Market Activity
Following the launch of the Story trust, the price of the IP token surged over 8%; however, it lost over 4% in the past 24 hours, trading at $5.88. Trading volume increased over 58%, reaching $120.4 million, reflecting growing interest among traders. The protocol has a market capitalization of $1.73 billion and ranks 53rd in the top 100 cryptocurrency list. The IP token recorded significant gains—over 115% in July—likely due to a positive market sentiment surrounding altcoins.
The launch of Grayscale's new Story Trust indicates a growing interest in the intellectual property protocol, which has the potential to transform data licensing in the AI era.
