Story Protocol Set to Launch Mainnet on February 13: A Major Step for Decentralized IP Ownership

Story Protocol, a Web3 protocol focused on intellectual property (IP) ownership, has announced the launch of its mainnet on February 13. 

This marks a significant step in decentralizing the ownership and monetization of digital content. Alongside the mainnet launch, Story will also introduce its native token, IP, which will play a key role in its ecosystem.

Mainnet Launch and IP Token Utility

In its official announcement on February 11 via platform X, Story Protocol confirmed that its mainnet will soon go live. The IP token will be used for transactions, governance voting, and payments to creators.

Source: x.com/@StoryProtocol

The initial phase of the IP token launch will begin with a staking period called “Singularity.” With a total supply of 1 billion IP tokens, the project has designed a structured distribution plan, where staking rewards will start being issued on March 2.

How Story Protocol Revolutionizes IP Ownership

Story Protocol enables intellectual property ownership to be more flexible and decentralized. Through this protocol, copyright holders can register their content, set licensing rules, and receive payments automatically without intermediaries.

Licensing payments will be made using cryptocurrency, but creators will have the option to withdraw in their local fiat currency. By recording content directly on the blockchain, creators gain additional protection against unauthorized use.

Read also: AI Agent Luna Joins Story Protocol as a Social Media Intern

Story Protocol’s Vision

Story Protocol was founded in 2022 by Jason Zhao, a former product manager at Google DeepMind. Zhao identified key challenges in the digital content industry, particularly concerning AI-generated works that are often reused without fair compensation for the original creators.

In an interview, Zhao emphasized that while AI provides advanced creative tools, a sustainable business model for IP holders, platforms, and creators is still lacking.

"In the AI era, IP will play a crucial role in tokenizing $61 trillion worth of IP assets," Story Protocol stated in a post on February 7.

Adoption and Growth

Currently, more than 50 applications have been developed on the Story Protocol network. One of the standout applications is Magma, a collaborative digital art platform with over 2.5 million users. This reflects the growing demand for decentralized solutions in digital copyright protection.

Story Protocol has also attracted major investors. The project is backed by Andreessen Horowitz, Polychain Capital, Hashed, and Samsung Next. Its funding rounds include:

• $29 million in seed funding (May 2023)
• $25 million in Series A funding (September 2023)
• $80 million in Series B funding (August 2024)

Conclusion

The launch of Story Protocol’s mainnet marks a milestone in blockchain-based IP ownership. With a decentralized model, creators can more easily manage, protect, and monetize their content. Support from major crypto exchanges and investments from leading venture capital firms further solidify Story Protocol’s position as a pioneer in the industry.

FAQs

1. When will Story Protocol's mainnet launch?
Story Protocol will launch its mainnet on February 13, 2025.

2. What is the utility of the IP token?
The IP token is used for transactions, governance, and payments to creators within the Story Protocol ecosystem.

3. Which exchanges will support the IP token?
Bitget, Bithumb, Bybit, KuCoin, Coinbase, and OKX have announced support for the IP token.

4. How does Story Protocol protect intellectual property rights?
Story Protocol allows creators to register their content on the blockchain, automate licensing agreements, and ensure fair revenue distribution.