The public mainnet for Story Protocol, a layer-1 network for licensing and maintaining intellectual property, is now up and running following a nearly six-month testnet phase.
Developed by PIP Labs, the project seeks to reduce legal friction for creatives and academics by hosting a platform for registering IP ($2.43) and leveraging it in commercial settings.
Allowing IP owners to set programmable terms for how their content is used, Story’s whitepaper says that “any two willing individuals can trade, extend, and monetize their ideas directly on Story without interference from rent-seeking intermediaries.”
Story's testnet phase began on August 27 last year, with the launch of the “Iliad” testnet.
Its mainnet kickoff comes after PIP Labs raised $140 million in total funding, backed by venture capitalists including a16z and Samsung Next. With Story out in the wild, the public may get a better sense of what drove PIP Labs’
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