Story Protocol Launching Story L1
Story Network is introducing Story L1, an innovative blockchain solution designed to tokenize and monetize creative assets in the AI era.
The Deets
- IP Blockchain: Story L1 enables the tokenization of IP into Programmable IP legos.
- Proof of Creativity Protocol: Allows creators to set terms for IP usage and monetization.
- Programmable IP License: Ensures legal redemption of tokenized IP.
- EVM and Cosmos SDK: Combines the best features for optimal performance.
The Bulk
Story Network announced the upcoming launch of Story L1. This Layer 1 blockchain solution aims to revolutionize how creative assets are managed and monetized, addressing the growing need for fair compensation in the age of AI-powered creativity.
At its core, Story L1 is designed to tokenize IP (Intellectual Property) into programmable assets, aptly called "Programmable IP legos." These digital legos can be traded, monetized, and utilized across various platforms, providing creators with unprecedented control over their work.
One of the standout features of Story L1 is the Proof of Creativity Protocol. This protocol allows creators to set the terms for how their tokenized IP can be used and monetized. Transactions are facilitated automatically based on these terms, ensuring that creators are fairly compensated for their contributions.
To bridge the gap between the digital and legal worlds, Story L1 introduces the Programmable IP License (PIL). This legal contract allows for the off-ramping of tokenized IP into traditional legal systems, much like how USDC can be redeemed for fiat currency.
Story L1 is built on a robust foundation that combines the best of Ethereum Virtual Machine (EVM) and Cosmos SDK. This ensures full EVM equivalence and deep execution layer optimizations, supporting complex graph data structures inherent to IP networks.
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