Story Protocol closes its funding round

Story Protocol, a new blockchain-based IP ownership network, closed a $54-million funding round on September 7, 2023. It is expected that this included investments from names, such as Paris Hilton’s 11:11 Media and Andreessen Horowitz, also known as a16z, stated Cointelegraph. The platform is believed to use blockchain technology to help content creators oversee and monetise their content in the face of fakes generated by artificial intelligence (AI). It is believed that the product can serve as a blockchain-based IP ownership repository for all types of content, including text, image and audio, among others. Jashon Zhao said the funds will go toward the launch in the first half of 2024, Cointelegraph concluded.

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