Story Protocol (IP) Joins Top 10 AI Projects by Market Cap, Surpassing Virtual Protocol

Story Protocol (IP) is currently trading for $5.23, up 55% in the past 24 hours and 186% in the past week, with a market cap of over $1.2 billion.

Story Protocol (IP) has joined the top 10 AI projects by market cap, surpassing Virtual Protocol, following a 55% surge in the past 24 hours.

According to CoinGecko, Story Protocol (IP) is currently trading at $5.23, with a market cap of over $1.2 billion. This marks a significant increase from the previous day, when the token was trading at $3.37.

The price surge comes after the platform shared more details about its technical roadmap on Thursday. As per the roadmap, the network plans to roll out the public beta for its IP Portal and decentralized oracle network in Q2.

Our Technical Roadmap is Live!

Story is committed to driving continuous improvements to L1 performance, reliability, and decentralization.

And built on top of our L1 infrastructure is a unique stack of IP-focused product features and applications.

Dive in ↴ pic.twitter.com/Eyns5HhkQH

The price surge also follows a series of recent listings on major exchanges, including crypto.com, MEXC and KuCoin.

Story protocol officially launched its public mainnet just over a week ago, following a six-month testnet phase. Alongside its mainnet launch, Story Protocol conducted its first unlock event, releasing 25% of the initial 1 billion IP tokens. Out of the total supply, 58.4% is allocated to the ecosystem, foundation, and initial incentives over a four-year period.

Developed by PIP Labs, Story Protocol (IP) is a Layer 1 blockchain that aims to revolutionize intellectual property management. The platform offers creators the ability to register their intellectual property as “IP Assets” on the blockchain, allowing them to set programmable usage terms and directly monetize their content without relying on intermediaries.

The platform’s native token, IP, announced on Feb. 7, is used for transaction fees and governance voting. The project had a strong presale, securing $80 million in a Series B funding round led by Andreessen Horowitz (a16z), bringing its total funding to $140 million.