Story, a Korean Blockchain Startup, Doubles Its Coin Price Two Weeks After Securing Backing from Major Investors

Korean investors have shown strong interest in the blockchain startup Story, causing its coin price to double two weeks after its CEO secured backing from major investors

Korean investors are showing strong interest in blockchain startup Story, causing its coin price to double two weeks after its CEO secured backing from major investors, including Andreessen Horowitz (also known as a16z) and Samsung, market insiders said Tuesday.

Story enables the tokenization of various types of intellectual property, including ideas, images, physical assets and music. It offers a solution for intellectual property management by integrating terms of use, ownership and royalty agreements directly on the blockchain.

This enables intellectual property owners to safeguard their creations and maximize revenue opportunities in what is increasingly becoming a more AI-driven economy. The coin is used for transaction fees and other utilities within the system, the company said.

As of 2:10 p.m. Tuesday on Bithumb, the coin was trading at 7,055 won ($4.93), marking a 17 percent increase from the previous trading day. After debuting on Feb. 13 at a reference price of 3,270 won, the coin surged 200 percent on Friday. Following profit taking by investors, it has since settled at a price reflecting a 100 percent rise over the 12 days since its listing.

Since last year, Story has been regarded as a promising blockchain project in the domestic crypto industry, primarily due to its leadership under Lee Seung-yoon, who previously sold the web novel platform Radish to Kakao for 500 billion won. As Lee's second startup, Story garnered significant attention early on, securing a $2.25 billion valuation during its initial investment stage.

Its key investor is a16z, a prominent U.S. venture capital firm known for backing Sam Altman's Worldcoin. Other notable investors include Samsung Next, Samsung’s global investment arm, and Bang Si-hyuk, chairman of K-pop behemoth HYBE.

However, for Story to maintain its position as a leading project, analysts say that onboarding major content creators and AI platforms capable of generating large volumes of intellectual property will be key.

The company is also expanding its reach by acquiring major intellectual property. On Feb. 18, it announced the acquisition of partial music rights for over 50 songs by global artists, including the chart-topping K-pop group BLACKPINK.

As of August 2024, the firm reported that more than 200 entities, including David Goyer, who wrote the script for "The Dark Knight" trilogy, had registered over 20 million pieces of intellectual property on the platform.

"Story has emerged as one of the most highly anticipated projects in the first quarter of 2025, driven by its innovative approach as a layer for programmable IP, the active social media presence of co-founder Jason Zhao and its keen understanding of industry trends," Declan Kim, research analyst at DeSpread, said.

"This positioning could enable Story to build a strong moat in a rapidly expanding digital content environment driven by the proliferation of AI agents," Kim said.