Story Protocol, a San Francisco, CA-based provider of a framework to manage IP development, raised over $54M in funding.
The round was led by a16z crypto, with participation from Hashed, Endeavor, Samsung Next, dao5, Insignia Venture Partners, David Bonderman, Si-hyuk Bang, Paris Hilton’s 11:11 Media, CH Kim, Kyung In Jung, Wattpad Co-founder Allen and Eva Lau’s Two Small Fish Ventures, Alliance DAO, Foresight Ventures, Mirana Ventures, Balaji Srinivasan, Nicolas Berggruen, Charlie Songhurst, David Lee, Sanghun Kim, Chang Kim and Roham Gharegozlou, among others.
The company intends to use the funds to expand operations and its business reach.
Led by SY (Seung Yoon) Lee, Story Protocol provides a framework to manage the entire lifecycle of IP development, enabling features like provenance tracking, frictionless licensing and revenue sharing. Made for creators across all media – prose, images, gaming, audio and more – applications built on Story Protocol give writers and artists the ability to track their work’s provenance, allowing anyone to contribute and remix while capturing the value of their contributions.
The project aims to support the ecosystem of third-party developers providing services encompassing crowdfunding, capital formation, IP discovery, licensing modules, authentication for AI content, and community growth. Story Protocol presents an open and modular architecture that any application can plug into and its decentralized nature removes platform risk for ecosystem builders.
The company’s founding leadership team includes:
- Co-founder Seung Yoon (S.Y.) Lee.
- Co-founder Jason Levy.
- Co-founder Jason Zhao.
- Weilei Yu.
- Leo Chen.
- Ben Sternberg.
- Susan Park.
FinSMEs
06/09/2023