Story Protocol Launches Public Mainnet, Marking the First-Ever Global, Programmable Market for IP

Story Protocol, a layer-1 blockchain, has announced the launched its public mainnet, marking the first-ever global, programmable market for IP.

Story Protocol, a layer-1 blockchain, has announced the launch of its public mainnet, marking the first-ever global, programmable market for IP.

The platform aims to transform the $61 trillion IP asset class by giving IP holders and AI-driven products the tools to manage, trade, and monetize creative assets.

Homer, our Public Mainnet, is live.

Welcome to a new era of ꧁IP꧂

Learn more ↴ pic.twitter.com/u3BkW5WJYj

The launch follows a six-month testnet phase that began with the “Iliad” testnet on Aug. 27, 2024. Now live, the mainnet provides a decentralized platform where IP owners can set up licensing rules and transact without any middlemen.

The network will be secured by the IP token, which is used for transactions, governance, and creator rewards. IP owners can register and tokenize their work on the blockchain, setting rules for how it can be used, modified, or monetized. Developers can build apps on the network, creating new AI tools, licensing platforms, and IP marketplaces.

IP has debuted with an initial supply of 1 billion tokens, and a 30-day rewards portal has been set up to allow testnet participants to claim IP tokens. Those who wish to contribute to network security can stake IP, with the staking phase — called “Singularity” — having kicked off on Feb.1. However, rewards will be distributed starting March 2.

Notably, tokens allocated to early backers and core contributors will be locked for one year.

Several major exchanges, including Coinbase, OKX, KuCoin, Bybit, Bitget, and Bithumb, have announced the listing of IP.

Story Protocol has raised $140 million from investors such as Samsung Next and a16z. Several IP-focused projects are already building on the network. One such project, Aria, recently raised $7 million to purchase the rights to Justin Bieber’s song “Peaches” and divide the proceeds among the IP asset’s fractional owners.