Story Raises $80 Million for IP Protection Blockchain

San Francisco-based startup Story has raised $80 million in a Series B funding round led by Andreessen Horowitz, valuing the company at $2.25 billion. The funding will support the development of a blockchain designed to protect creators' intellectual property (IP) from unauthorized use by AI companies, which Story describes as one of the world's largest asset classes. By utilizing smart contracts, Story's technology allows creators to embed licensing terms and royalty arrangements directly into their IP, effectively eliminating intermediaries in copyright disputes. Co-founder SY Lee emphasized that this makes IP 'programmable', allowing creators to set conditions for the use of their works. As AI becomes increasingly reliant on existing content, Story aims to offer a solution that empowers creators to control and monetize their contributions. The startup's innovative approach seeks to adapt the outdated IP regime to today's digital landscape, where content ownership is under threat from AI advancements.