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Story's Layer 1 (L1) network's native currency $IP was introduced. Story is a next-generation blockchain platform. Artificial intelligence (AI) is revolutionizing various industries, while $IP will be essential for tokenizing the $61 trillion intellectual property (IP) asset class.
An important 58.4% of $IP is allocated to the ecosystem, community, foundation, and initial incentives. This move aims to encourage widespread adoption and provide a solid foundation for the Story network.
The current IP system is struggling to scale with AI-supported innovations. From scientific discoveries to creative works, AI is reshaping the $61 trillion IP market. However, traditional IP structures have become outdated and ineffective, continuing to limit the potential of new innovative breakthroughs.
Story Protocol's IP Network aims to uncover the hidden potential of intellectual property. The platform provides creators with direct control over their work and enables easy marketing and sale of ideas. Like Bitcoin emerged to address the financial crisis, Story aims to solve inefficiencies in the AI-supported IP environment.
Story democratizes access to IP by removing central intermediaries from the equation. The platform creates a programmable market for intelligence and provides an environment where innovation thrives and intellectual contributions are maximized.
https://www.gate.io/pre-market/IP
https://www.gate.io/learn/articles/ip-overview/6365