GuShiio.com Story Ecosystem is becoming one of the most exciting innovations in Web3.
Written by: Defi0xJeff, head of steak studio
Compiled by: Ashley, BlockBeats
Editor’s note: Story is reshaping intellectual property (IP) management in the Web3 era, giving creators greater control through decentralized registration, authorization and monetization. This article reviews the core concepts and hot projects of the Story ecosystem and shows how it makes IP tradeable and collaborative.
The following is the original content (the original content has been compiled for ease of reading and understanding):
In 1935,”Happy Birthday to You” was widely believed to have entered the public domain until it proved otherwise. The Hill sisters actually copyrighted it, which was later acquired by Warner/Chappell Music and charged hefty royalties for its use in movies, television and even public birthday parties. In 2013, documentary director Jennifer Nelson formally challenged this copyright while filming “Happy Birthday.”
Fast forward to 2018, Match Group (Tinder’s parent company) sued Bumble, accusing it of copying Tinder’s trademark sliding matching mechanism. Bumble, founded by former Tinder employees, fought back and filed a counterclaim, claiming Match Group was trying to make an acquisition through intimidation. Core controversy? Who has the right to “right slide match”?
By 2021, MSCHF has launched 666 pairs of customized versions of the Nike Air Max 97, named “Satan Shoes”, which contain Satan symbols, embed human blood in the soles, and are linked to Lil Nas X’s “Montero” MV. Nike immediately sued, and even though the MSCHF was independently modified, the shoe’s design was still based on Nike’s registered trademark Air Max.
No matter how these cases end, imagine what would happen if these IPs were registered on @StoryProtocol? Story ensures fair attribution, simplifies the authorization process, and creates a more collaborative ecosystem.
More importantly, it can turn these IPs into tradable assets, allowing creators to seamlessly monetize their work while maintaining respect for original intentions.
What is Story?
For an in-depth understanding of all concepts, it is recommended to read the white paper. But in short, Story offers:
Programmable IP
Story Protocol allows creators to register their intellectual property on the blockchain, making it “programmable.” This means that IP rights, authorization conditions and monetization rules can be encoded into smart contracts to enable automated authorization and royalty distribution.
Example: As an author, you can set certain conditions, such as allowing the community to issue meme coins based on this IP, but you must allocate [x]% of the token supply to the original author. These conditions will be automatically enforced through smart contracts to ensure fair allocation and compliance without the need for intermediaries.
Tokenization of IP assets
Story makes intellectual property more liquid by uploading and tokenizing it. Story ensures that any IP asset can always be authorized, traded and monetized, while maintaining legal protection and ownership. This model can financialize the value of IP and unleash new opportunities for IP holders, investors and global fans.
Story also has a built-in PT/YT mechanism similar to @ pendant_fi to separate IP ownership (NFT representative) from cash flow/royalty revenue streams. This separation provides greater flexibility in IP asset management and monetization. Interestingly, projects similar to Pendle have also appeared on the market, which can be used to tokenize royalties, allowing investors to bet on future royalties.
Before introducing the core agreement, it should be emphasized that Story’s ecology is becoming one of the most attractive tracks this cycle. With its diverse use cases and strategic partnerships, Story L1 may host a number of heavyweight intellectual property rights, including popular songs by the world’s top artists, a huge IP universe co-created by the community (which may challenge Star Wars), AI Generation IP ecosystem, etc.
Popular Story Ecological Projects
Aria
IP tokenization + RWAs (real-world assets)= super combination
Aria has linked top IPs such as Justin Bieber’s Peaches, allowing anyone to invest in or build almost any asset they like songs, books, movies, works of art, patents, brands, AI training data.
Currently, Aria has tokenized two IPs, including Miley Cyrus Dua Lipa’s Prisoner.
The IPs were part of Aria Premiere Launch, a partnership between Aria and @Stake_Stone, which raised $7 million in nine minutes. The money was used to acquire more than 50 partial publishing and performance rights and generate revenue through the Web2 royalty stream, Story, Aria and StakeStone.
Market rumors suggest that a top Korean idol brand (whose name starts with a B) may be the next acquisition target.
IPdotWorld
Remember Chill Guy and his $CHILLGUY meme coin issued by anonymous users on CT? The original author “Philip Banks” tried to defend his rights, but ultimately failed.
This is exactly what @ ipdoworld does-it provides a platform for binding meme coins to real intellectual property. When meme is issued, a certain percentage of the supply is reserved for verified IP holders to ensure that creators receive due rewards.
Verio
@verio_story is the $IP pledge layer/ IP verification service in the Story ecosystem.
By pledging $IP, users can endorse the authenticity of assets and help filter false IP applications. Similar to Ethereum’s restaking mechanism,$IP pledge uses a crypto-economic trust mechanism to verify intellectual property rights.
$vIP (LST version) is similar to stETH and can be used in the Story ecosystem’s DeFi architecture.
Jutsu World
@JutsuTCG is an on-chain card game in the Story ecosystem. It uses an enhanced version of ERC404 to provide a dynamic reinvestment mechanism to enhance the game experience.
A project to issue tokens/NFT on Story’s main website
Benjamin / Unleashed
@BenjaminOnIp is the first DeFAI agent for Story Ecosystem and is committed to becoming the DeFi portal for Story Ecosystem.
Unleash Protocol plans to develop AI agents into personalized IP characters, not just mascots or memes, and possibly even interact based on characters such as Thomas Shelby or Steve Jobs.
Benjamin is about to launch a token offering at @FjordFoundry and is expected to go online within 24 hours.
What the Freg
@WhatTheFreg is Story Ecosystem’s first AI agent meme coin, leveraging Story’s TCP/IP standard (Story Ecosystem’s protocol that allows AI agents to trade IP).
It is Pepe’s sworn enemy and aims to challenge the culture of counterfeit and pirated meme in Web3.
SoloAI
@SoloAI_Agent, supported by @sequoia, is an AI-driven music creation platform that allows everyone to easily create music without a professional background.
Mimboku
@mimboku_story is the top NFT project in the Story ecosystem (similar to Bit Bears on @berachain).
This will be the first OG-level collectibles series in the Story ecosystem, and it is “possible” to receive airdrops and incentives from other projects.
A casting date has not yet been set, but is expected to be shortly after Story launches on its main website.
If you are actively involved in Discord discussions or create high-quality content/ meme /art, you still have a chance to be whitelisted (WL).
summary
Story Ecosystem is becoming one of the most exciting innovations in Web3. Whether it’s music, meme, AI or trading cards, Story is building a programmable, liquid IP economy that allows creators to control their future.
Story’s main website will be launched soon, so stay tuned!
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