Git for Creative IP: Story Protocol Launches to Create the Atomic Building Blocks of IP
A huge congratulations to the Story Protocol team on their launch. With over US$54 million in funding, the startup is gearing to make a huge impact on the creative economy.
Story Protocol is a TSFV Fund III investment: We backed the founders in late-2022 when the company was operating in stealth-mode. Now we’re committing additional funding in Story Protocol’s latest round led by a16z.
Being part of the founding team of Wattpad – the world’s largest storytelling platform – our team is especially excited about Story Protocol and what it means for creators and the industry as a whole.
Story Protocol has built an open protocol to track creative IP (prose, image, audio, and more) as it evolves across mediums and platforms. The open framework also enables remixing and allows co-creators to capture the value of their contributions.
A simple way to think of Story Protocol is like Git, the version control system for tracking changes in software code. Just like Git revolutionized the development of open-source software by underpinning the networked evolution of code, Story Protocol is transforming the development of creative IP.
Story Protocol is founded by an incredible team of serial entrepreneurs and researchers. In fact, we know S.Y. Lee well from our Wattpad days. S.Y. was the cofounder and CEO of Radish, a direct Wattpad competitor.
After both companies were acquired in 2021, S.Y. reached out to share his vision of building what he called “Git for IP with ownership and incentives.” Given our background and expertise in the space we immediately understood the potential of Story Protocol. The rest of history. Although we were once competitors, we’re now partners ready to usher in a new era for IP together.
If you’re involved or interested in the creative industry, check out Story Protocol’s vision – it’s a must-read.
Story Protocol perfectly aligns well with our refreshed thesis : to invest in early-stage products, platforms, and protocols that transform user behaviour and empower businesses and individuals to unlock new values.
Congratulations again S.Y., Jason Levy, Jason Zhao and the entire Story Protocol team - we’re excited about what's ahead!
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