What Is Story (IP) and How Does It Work?
Story (IP) is a
Layer-1 blockchain designed specifically for intellectual property (IP) ownership, licensing, and monetization. Its goal is to turn any digital creation, like music, art, code, writing, or AI models, into programmable IP assets that can be registered, traded, and licensed on-chain.
At the core of the Story Protocol is the concept of Programmable IP Licenses (PILs). These are
smart contracts embedded with legal terms, allowing creators to define how their content can be used, remixed, or monetized, automatically enforcing royalties, attribution, and licensing conditions. Story’s infrastructure also supports token-bound accounts (e.g., ERC-6551), allowing creators to attach IP rights directly to
NFTs or other tokens.
The $IP token is used for paying
gas fees, securing the network through staking, and participating in protocol governance. Developers can build decentralized applications (dApps) on Story that interact with the IP layer, while creators can use the IP Portal to register and license their content globally, without intermediaries.
When Was Story Protocol Launched?
Story Protocol was founded in 2022 by Seung Yoon Lee (SY Lee), Jason Zhao, and Jason Levy to create a blockchain-native solution for intellectual property rights in the digital and AI age. In September 2023, the team announced $54 million in seed funding led by Andreessen Horowitz (a16z) and other top investors. This was followed by an $80 million Series B round in August 2024, bringing total funding to $140 million. The project officially launched its mainnet, dubbed the “Big Bang,”on February 19, 2025, unlocking the $IP token and activating the foundational components of the Story blockchain.
Story Protocol was co-founded by Seung Yoon Lee, Jason Zhao, and Jason Levy. SY Lee, the CEO, previously co-founded Radish, a serialized fiction platform acquired by Kakao, and holds a degree from Oxford University. Jason Zhao brings experience from his work at Google DeepMind, specializing in AI and systems architecture. Jason Levy rounds out the founding team with deep expertise in blockchain development and IP systems.
Story Protocol Roadmap Overview
1. Q1 2025 – Mainnet Launch: Story Protocol’s “Big Bang” went live on February 19, 2025, introducing $IP tokens and enabling staking.
2. Q2 2025 – Public Beta: Launch of the IP Portal for asset registration and the Story Attestation Service to verify content authenticity and creator identity.
3. Q3 2025 – Tech Upgrade: Network optimization, faster block times, and release of the IPKit SDK to support developer integration and dApp building.
4. Ongoing – Active Research: Continued development focused on scalability,
AI-native protocol layers, and improvements to governance and licensing standards.
What Are the Main Use Cases of IP Token?
The $IP token is the native utility and governance token of the Story Protocol. It plays a central role in powering the ecosystem by enabling creators, developers, and users to interact with on-chain intellectual property. Key use cases include:
• Gas Fees: $IP is used to pay for transaction fees on the Story blockchain.
• Staking: Token holders can stake $IP to help secure the network and participate in consensus.
• Governance: $IP holders can vote on protocol upgrades, ecosystem funding, and licensing standards.
• Incentives: Developers and creators may receive $IP rewards for contributing IP assets or building on the protocol.
• Licensing & Monetization: $IP facilitates programmable licensing transactions, royalties, and revenue distribution via smart contracts.
You can trade $IP on
BingX Spot by logging into your account, searching for the
IP/USDT trading pair, and placing a buy or sell order using
market or limit options. Once your trade is executed, the tokens will appear in your BingX wallet.
What Is Story Tokenomics?
Story Protocol’s native token, $IP, is designed to fuel the network’s operations, incentivize participation, and govern the future of the platform. It has no fixed maximum supply, allowing dynamic issuance to support ongoing ecosystem growth and rewards.
Here’s a breakdown of $IP’s token distribution:
• 38.4% allocated to the ecosystem and community, including creators, developers, and contributors.
• 17.2% allocated to the Story Foundation, responsible for network governance and development.
• 10% reserved for initial incentives such as staking rewards, early user programs, and grants.
• 34.4% distributed among investors and the founding team, with long-term vesting schedules.
How to Register an IP on Story Network
Registering your intellectual property on the Story Network allows you to tokenize your creative work, embed licensing terms, and monetize it securely on-chain. Here's how to get started:
1. Mint an NFT to represent your IP: If your work isn’t already tokenized, begin by minting an ERC‑721 NFT that represents your intellectual property, whether it's a song, artwork, writing, or AI model.
2. Use the IP Portal or SDK: Visit the IP Portal (now in open beta) to register your NFT quickly. Simply connect your
wallet, upload your file with metadata, and click register. Alternatively, developers can use Story’s TypeScript or Solidity SDKs to mint and register programmatically.
3. Attach a Programmable IP License (PIL): Once your IP asset is created, define legal usage terms, non-commercial use, commercial use, remix rights, by attaching a PIL via the SDK or Smart Contract.
4. Automated licensing & royalty flows: With your IP registered and terms attached, others can license your work. Story’s smart contracts enforce royalty payouts and usage conditions automatically, ensuring transparent and enforceable monetization.
5. Monitor and manage onchain: Each IP asset generates a dedicated IP Account smart contract (e.g., token-bound account) which tracks ownership history, derivatives, license sales, and revenue flows. You can monitor, manage, or update terms through the IP Portal or SDK tools.
What Is the Role of AI in Story's Technology?
AI plays a central role in the vision and infrastructure of Story Protocol by enabling autonomous interaction, licensing, and monetization of intellectual property (IP). The protocol is designed to support a future where AI agents can act as both creators and consumers of IP, licensing datasets, models, media, and even derivative works entirely on-chain and without human intervention.
To make this possible, Story introduces the Agent TCP/IP Layer (ATCP/IP), a framework that allows AI agents to discover, negotiate, and transact over IP assets in a legally compliant and automated way. Combined with Programmable IP Licenses (PILs), this ensures that when an AI model uses or transforms content, the original creator receives attribution and royalties automatically.
Story is building a decentralized infrastructure for the AI-native economy, where machine-to-machine licensing and attribution can be enforced transparently and programmatically, unlocking new monetization paths in the age of generative content.
What Is a Programmable IP License (PIL) on Story?
A Programmable IP License (PIL) on Story is a smart contract-based legal framework that allows creators to embed licensing terms directly into their digital assets. It defines how intellectual property, such as music, images, code, or AI models, can be used, remixed, or monetized, with conditions like commercial rights, attribution requirements, revenue sharing, and royalty percentages.
Once applied to an IP asset, the PIL automatically enforces these rules on-chain, enabling trustless, transparent licensing transactions between creators, users, and even AI agents. This bridges the gap between traditional copyright law and blockchain-based content distribution.
How Is Story Different From Traditional IP Law?
Story Protocol differs from traditional IP law by making intellectual property programmable, traceable, and enforceable through smart contracts on a blockchain. Instead of relying on intermediaries or centralized registries, Story enables creators to register their IP on-chain and attach Programmable IP Licenses (PILs) that specify usage rights, royalty terms, and attribution rules, all in code. These licenses are legally binding and automatically executed whenever someone licenses, remixes, or monetizes the content, ensuring compliance without manual enforcement or legal overhead.
Traditional IP systems are jurisdiction-based, slow, and often inaccessible to independent creators, especially in the digital and AI age. In contrast, Story offers a borderless, transparent, and automated framework that aligns with the needs of online creators and AI developers. By embedding legal logic into tokens and leveraging token-bound accounts, Story not only simplifies rights management but also unlocks new models for collaboration, revenue sharing, and creator attribution, especially in machine-to-machine (agent) interactions.
What Wallets Support IP Tokens?
You can store and manage your $IP tokens directly on BingX, which offers a convenient and secure custodial solution for trading and holding assets. By keeping your tokens on BingX, you gain instant access to spot trading, portfolio tracking, and integration with other BingX features like
copy trading and market analytics. This is ideal for users who prioritize ease of use and prefer not to manage
private keys manually.
For those who want full control over their assets, $IP is also compatible with EVM-based wallets such as
MetaMask,
Phantom, and
Trust Wallet. These wallets allow you to store $IP tokens securely using
self-custody and interact with
dApps built on the Story Protocol. To use them, you may need to manually add the Story mainnet RPC or connect through bridges like Stargate, Orbiter, or deBridge. Developers and advanced users may also integrate wallets with Story’s SDKs to interact with the IP Portal, register assets, or manage programmable licenses directly on-chain.
Is Story (IP) a Good Investment?
Story (IP) stands out as a compelling investment because it tackles one of the most pressing challenges in the digital economy: how to protect, license, and monetize intellectual property in a borderless, AI-driven world. As content creation rapidly accelerates, especially with the rise of generative AI, Story provides the infrastructure to manage IP rights transparently and automatically through programmable smart contracts. This positions $IP at the intersection of blockchain, creator economies, and artificial intelligence, giving it strong long-term utility and relevance.
Furthermore, Story is backed by a high-profile team and over $140 million in funding from top-tier investors like a16z, signaling strong institutional confidence. Its launch was one of the most anticipated in 2025, and its growing ecosystem of developers, creators, and tools like the IP Portal and SDKs shows early signs of adoption. With its unique legal-technical hybrid model and focus on programmable licensing, Story has the potential to reshape how creators earn and protect their work, offering investors exposure to one of the most innovative use cases in
Web3.