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WHAT IT’S REALLY ABOUT
Story founders aim to make intellectual property programmable for the AI era
- Story's CEO SY, a serial entrepreneur who sold his previous company Radish to Kakao for almost half a billion dollars, started Story to tackle the bigger problem of fixing business models for content.
- Co-founder Jason Zhao left a product management job at DeepMind with no concrete plan, convinced that blockchain could provide property rights for content as AI creates infinite abundance.
- Story Protocol lets creators register IP on a blockchain and set licensing terms like revenue share, geography and commercial use, so IP works like Lego bricks that others can remix under the creator's rules.
- Builders such as Sekai, Mahojin and Magma use Story as backend infrastructure, and the company supports them closely through a developer-focused go-to-market strategy, with a16z leading all three of its funding rounds.
- An investor and a Stability AI executive frame the opportunity: the internet likes to copy and remix, as video games show, and a decentralized protocol for creators is becoming increasingly important.
IDEAS WORTH REMEMBERING
5 ideasAI abundance creates a need for provable scarcity
Jason Zhao argues that when anyone can produce hours of content from one prompt, incentives and business models for creators break down, and blockchains' provable scarcity is the only fix.
Licensing terms can be reduced to a few parameters
SY says what once took hundreds of pages of legal documents and lawyers can be encoded as parameters such as revenue share, geography and commercial versus non-commercial use, set permissionlessly on the blockchain.
The goal is for users not to need to understand blockchain
Taking inspiration from Stripe, Story aims to hide complexity behind simple UI and developer tools so creators and Web2 developers can use it without understanding blockchain, law or even IP.
Story supports builders instead of targeting creators directly
The team says its go-to-market is developer and entrepreneur focused, helping builders like Sekai's founder with office access, investor introductions and a seed round led by a16z, since their success is Story's success.
Open remixing can grow media markets
An investor contrasts video games, which embraced free-to-play, copying and modding and grew to roughly $180 billion, with music, which stayed flat around $25 billion, arguing these ideas should spread to other media.
WORDS WORTH SAVING
5 quotesblockchains are digital scarcity, provable scarcity, and AIs are infinite abundance, right?
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But blockchains can do so much more than money.
— Unattributed
The internet likes to copy. One way to think about the internet is a supercharged copying machine.
— Unattributed
Social media made everyone a creator, but now they are a studio because with their fingertips, they can make incredible content with just an idea, with just a prompt, you can do that, right?
— Unattributed
Combine these two things, we'll see an explosion of creativity. We'll see a digital renaissance.
— Unattributed
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