Story Protocol is a blockchain tool like a digital library that keeps track of all kinds of creative work (like stories, pictures, music) and how they change over time. This tool makes sure artists get credit for their work and helps people add their own ideas to these creations easily.
What is Story Protocol
Here's how it works:
- Keeps Track of Creative Work: Just like how some tools keep track of changes in computer code, Story Protocol does this for creative content.
- Easy to Add New Ideas: People can easily add to or change the creative work, and the tool keeps track of who did what.
- Fair Credit and Payment: It makes sure artists and contributors get recognized and can make money from their work.
- Useful for Lots of Projects: Story Protocol can be used for many different things like raising money, finding creative work, and making sure content is original.
In summary, Story Protocol is like a big, evolving digital canvas where artists and creators can work together, share ideas, and get the credit and payment they deserve.
Team of Story Protocol
Seung Yoon “SY” Lee
CEO and Co-founder
SY Lee is the CEO and Co-founder of Story Protocol. Before this, he was the Global Strategy Officer at Kakao Entertainment. He sold his initial venture, Radish, a widely downloaded fiction app, to Kakao for $440M in 2021. An accomplished entrepreneur, Lee is affiliated with Hashed, Asia Society’s Asia 21 Young Leader program, and Trilateral Commission's David Rockefeller Fellowship. He made Forbes 30 Under 30 Asia in 2016 and later became an All Star alumnus. Lee was also the first Asian President of the Oxford Union during his time at Oxford.
Jason Levy
COO and Co-founder
Jason Levy, COO and Co-founder of Story Protocol, formerly directed at Pocket Gems, leading the content team for Episode, a mobile app with 200+ million downloads and over $100M yearly revenue. He was a financial analyst at Apple for 5 years, founded the mobile startup Worlds Between Worlds, and holds an MBA from Stanford and a dual degree from USC, where he was a Renaissance Scholar.
Jason Zhao
Head of Protocol and Co-founder
Jason Zhao, Head of Protocol and Co-founder of Story Protocol, formerly worked as a Product Manager at DeepMind, aiding in the rollout of Google’s advanced AI models for industrial use. He's an avid investor in pioneering tech startups and was the inaugural Editor in Chief of Stanford Rewired, a tech-storytelling magazine. At IDEO as a Design Fellow, he developed a course for Stanford's d.school. Jason holds a Bachelor's in Philosophy and a Master's in Computer Science from Stanford.
Funding of Story Protocol
$80,000,000
Series B
Led by a16z.
$25,000,000
Series A
Led by a16z. Other investors were Two Small Fish Ventures, Sean Hyunil sohn, Samsung NEXT, Mirana Ventures, Insignia Ventures Partners, Hashed and agel investors.
$29,300,000
Seed Round
Led by a16z. Other investors were Two Small Fish Ventures, SLVC, Samsung NEXT’s Q Fund, Mirana, Hashed, dao5 and Berggruen Holdings.
Story Protocol review
Pros
Open IP Model
Fosters transparent and easy sharing of creative content by focusing on open intellectual property.
Revenue Tracking
Creators can monitor the use of their intellectual property and secure fair revenue across platforms.
Authenticity Assurance
AI-driven content authentication helps in reducing plagiarism, ensuring original creators get their due credit.
Ecosystem Interoperability
Its openness allows for the integration of various decentralized applications, enriching the ecosystem.
Cons
Adoption Hurdles
New protocols often face initial resistance or slow uptake from creators and developers.
Integration Complexities
Seamlessly integrating features, particularly AI for content validation, presents technical challenges.
Security Risks
Handling IP and financial transactions makes it a prime target for security threats, necessitating strong protective measures.
Dynamic IP Regulations
Needs to continually adapt to changing intellectual property laws and norms to remain compliant and effective.