Story Protocol has formally launched its public mainnet following a six month lengthy testnet.
Story Protocol, a layer-1 blockchain, has introduced the launched its public mainnet, marking the first-ever international, programmable marketplace for IP. The platform goals to rework the $61 trillion IP asset class by giving IP holders and AI-driven merchandise the instruments to handle, commerce, and monetize inventive belongings.
Story Protocol’s launch follows a six-month testnet section that started with the “Iliad” testnet on August 27, 2024. Now stay, its mainnet supplies a decentralized platform the place IP homeowners can arrange licensing guidelines and transact with none middlemen.
The community can be secured by the IP token. IP is used for transactions, governance, and creator rewards. IP homeowners can register and tokenize their work on the blockchain, setting guidelines for the way it may be used, modified, or monetized. Builders can construct apps on the community, creating new AI instruments, licensing platforms, and IP marketplaces.
IP has debuted with an preliminary provide of 1 billion tokens. A 30-day rewards portal has been set as much as permit testnet contributors to assert IP tokens. Staking IP is an choice for many who want to promote community safety. The staking section for the IP, known as “Singularity,” kicked off on Feb.1, however rewards can be distributed beginning March 2.
Notably, tokens allotted to early backers and core contributors can be locked for one 12 months. Main exchanges like Coinbase, OKX, KuCoin, Bybit, Bitget, and Bithumb have already introduced the itemizing of IP.
Story Protocol raised $140 million from buyers akin to Samsung Subsequent and a16z. A number of IP-focused tasks are already constructing on the community. Aria, one such venture, raised $7 million to buy the rights to Justin Bieber’s tune “Peaches” and divide the proceeds among the many IP asset’s fractional homeowners.
