With a funding of $54 million, what problems can the on-chain IP infrastructure Story Protocol solve?

0x13(Sleepy)

23-09-13 18:00

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A few days ago, I was quite surprised to see the news of @StoryProtocol securing funding. It's rare to see such large-scale funding completed in a bear market, let alone two rounds in a row. Additionally, its positioning as "on-chain IP infrastructure" by @BlockBeatsAsia happens to be something I'm very interested in, so I spent some time doing some research.

Story Protocol aims to solve what problem?

(1) The Internet can help creators distribute their works, but many of the profits generated by IP derivatives do not flow back to the original creators. It is also troublesome for creators to handle IP authorization business themselves.

(2) The acceleration and distribution of the Internet have further promoted the generation and dissemination of fan-made content. The development of AI has further improved productivity. IPs are inevitably plagiarized and modified on the Internet, but currently there is no system that can guarantee the rights of creators while taking advantage of the benefits of Internet dissemination.

(3) The existing system is defensive and belongs to the previous era, which has not kept up with the development and instead hindered the dissemination of IP today.

Story Protocol How to Solve the Above Problems

Story Protocol, as a neutral third party, tracks the development path of IP and provides combinable modules, similar to Github.

(1) Create an IP database that records IP addresses and their derived links, which can be traced and used for account splitting.

(2) Make composable components, IP copyright Lego, and provide diversified functions. There are many things that can be extended here. For example, the official introduction mentions the idea of combining IP and DeFi. Of course, the official also mentioned that many entrepreneurs need to work together to build this system based on the Story Protocol.

(3) On-chain to ensure authenticity, traceability, and openness.

In addition, the article also mentioned that it will be combined with real-life laws, but did not specify how to combine them.

(1) Adoption and popularization difficulty: Promoting new intellectual property infrastructure takes time and effort, especially when it involves transitioning from existing models to new ones. Creators, businesses, and communities may need time to adapt to and adopt this new approach.

(2) Legal and regulatory issues: Combining intellectual property with blockchain may raise legal and regulatory issues. Different countries and regions have different legal frameworks for intellectual property, which may require addressing complex compliance issues.

我怎么看 Story Protocol

How do I view Story Protocol?

Content creators face fierce competition on the internet, and only a small portion of content can truly earn money. In addition, existing intellectual property models and platforms may already meet the needs of these creators.

However, what caught my attention was that the core concept proposed by Story Protocol and similar projects is to transfer intellectual property from traditional models to blockchain and distributed systems, in order to better meet the needs of the Internet era. They are trying to solve some of the problems that exist in existing models, including the traceability, scalability, licensing, and commercialization of intellectual property.

Although only a small portion of content generates revenue, IP management is crucial for content creators. For those with potential, Story Protocol may provide more tools and options to help them better manage and leverage their IP. Additionally, this model is also very attractive to the community, allowing them to participate more actively in co-creation and create more vitality for content.

Perhaps the Story Protocol may not see results quickly, and I cannot guarantee its success. However, it at least offers an interesting solution for exploration and may provide new ideas and tools for the future of IP management and creative content. Additionally, it may inspire the emergence of other innovative projects, bringing more opportunities to the entire industry.