Revolutionizing IP Management with Story Protocol

PIP Labs, a Palo Alto-based startup, has secured an $80 million Series B funding round co-led by a16z Crypto and Polychain Capital to advance Story Protocol, a layer-1 blockchain tailored for intellectual property (IP) management. Other investors like Hashed, Foresight Ventures, Samsung Next, Mirana Ventures, SparkLabs Global, and angel investors also participated, bringing PIP Labs' total funding to $140 million. This latest funding round has propelled the startup's valuation to $2.25 billion. Story Protocol empowers creators to assert control over their IPs through tokenization, enabling them to register their IPs on the blockchain, establish ownership, and define usage guidelines. By integrating blockchain technology, the protocol aims to ensure creators receive fair compensation for their contributions to training AI models. Already gaining traction, Story Protocol has attracted over 200 teams and 20 million IP assets across various sectors like IP finance, AI, and consumer markets. The Web3 fundraising landscape witnessed a surge in July, with deal volume reaching $1.44 billion, led by firms like Pantera Capital and Mirana Ventures.