Web3 protocol Story has announced its mainnet launch on February 13, along with its native IP token, aimed at helping creators monetize and protect their digital content.
Launch of IP Token and Its Functions
The IP token is designed for transactions, governance voting, and payments to creators. The initial staking phase, 'Singularity,' will begin on March 2 with rewards distribution. The total supply of IP tokens is capped at 1 billion, with several major crypto exchanges set to list the token.
Story Protocol and Its Objectives
Story's mainnet launch enhances decentralized intellectual property ownership by allowing creators to register their work on the blockchain. The protocol supports automatic licensing and revenue-sharing agreements, enabling direct payments without intermediaries.
AI Innovations and New Developments
Story aims to tackle the issue of AI remixing content without compensating creators. The platform focuses on IP tokenization within the $61 trillion intellectual property market. Over 50 applications, including the popular digital art collaboration platform Magma, are already integrated with Story’s protocol.
The launch of Story and its IP token opens new horizons for digital content creators, offering protection and equitable monetization of their works in a decentralized environment.
