Story Protocol releases programmable IP layer to unleash IP creativity and liquidity

According to official news, the on-chain intellectual property protocol Story Protocol has released a programmable IP layer, aiming to protect creators’ intellectual property rights while releasing creativity and liquidity. The programmable IP layer Story Protocol is building allows IP to be composed, restructured, and monetized through on-chain rules set by its creators. The programmable IP layer consists of two elements: data structures and modules. Data structures provide on-chain, scalable and composable standards for programmable IP. Modules constitute the functional layer of programmable IP. By making IP programmable, Story Protocol turns code into “law,” thereby increasing the readability and interoperability of IP. Story Protocol completed a $25 million Series A round of financing led by a16z crypto in September 2023, bringing total funding to more than $54 million. S.Y. Lee, one of the co-founders of Story Protocol, is the founder of the novel creation platform Radish, which was acquired by South Korean technology giant Kakao in 2021 for US$440 million.