WOO X Research: Another "Dead" Project? Story Launching Soon, Overview of Ecosystem Projects
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WOO X Research: Another "Dead" Project? Story Launching Soon, Overview of Ecosystem Projects
Can Story escape the curse as high-funded projects launch one after another recently?
Navigating Web3 tides with focused insightsRecently, high-profile funded projects have launched tokens one after another, including Solv, Berachain, Solayer, and B3. Due to weak overall altcoin market sentiment, the price performance of most newly listed tokens on exchanges has fallen short of expectations. Can Story Protocol, backed by renowned investors such as a16z and Polychain, break through this stalemate?
What is Story?
Story Protocol is a Layer 1 blockchain specifically designed for intellectual property (IP). Its core idea is to leverage blockchain technology to digitize IP assets, bring them on-chain, and enable automated management. Specifically:
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IP Asset Digitization: Each IP asset is represented by an ERC-721 standard NFT, ensuring uniqueness and immutability; combined with Token Bound Accounts (TBA) based on the ERC-6551 standard as dedicated IP accounts, used to store and manage metadata, licensing information, and royalty records related to the IP.
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Modular Design: Story Protocol establishes multiple functional modules, including licensing, royalty, dispute resolution, and segmentation modules, enabling smart contract-based automation for IP licensing, revenue distribution, and dispute handling.
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AI Agents and Marketplace: Its proprietary Agent TCP/IP protocol enables AI agents to interact and trade IP assets—such as training data and creative styles—further advancing the financialization and marketization of IP.
Story Protocol is more than just a typical IP blockchain—the key innovation lies in its integration with AI agents:
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ATCP/IP Protocol: Grants legal identity to AI agents and establishes a decentralized IP transaction workflow, automating processes from request and term negotiation to payment and delivery;
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AI Agent Use Cases: Whether AI artists (e.g., Zerebro), virtual idols (e.g., Luna), or crypto market analysts (e.g., AIXBT), all can achieve autonomous collaboration and efficient IP transactions via Story.
IP Tokenomics & Valuation
Core Functions of $IP
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Staking: Users can stake $IP to participate in PoS consensus, securing network stability and security;
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Transaction Gas: $IP serves as the network's gas token for paying various transaction fees (e.g., licensing fees, royalty distributions). A portion of $IP is burned with each transaction, potentially creating deflationary pressure under certain conditions;
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Governance: $IP holders participate in ecosystem governance, making decisions on future development directions.
$IP Allocation Structure
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38.4% for Ecosystem and Community: This portion supports community building, incentive programs, and ecosystem project development;
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10% for Initial Incentives: Rewards early users who actively participate in and use the ecosystem;
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10% allocated to the Foundation: Supports long-term project development, research, and reserve of ecological resources;
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21.6% for Early Backers: Rewards early investors and risk-takers;
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20% for Core Contributors: Rewards the core team and individuals who have made significant contributions to the project.
In addition, the initial supply of $IP is set at 1 billion tokens, with only 25% unlocked at launch and the remainder gradually released over a 48-month vesting schedule.
According to Rootdata, Story Protocol's last-round valuation was $2.25 billion FDV, with a total supply of 1 billion tokens, implying a per-token price of $2.25, ranking approximately #68.
Based on a price of $2.25 and 25% initial circulating supply, the market cap would be around $562.5 million, placing it at rank #143. The current OTC price stands at $3.5, making it crucial to observe whether the price drops below $2.25 upon listing.
Ecosystem Projects Overview
Story Protocol's ecosystem is highly diverse, spanning AI/AIGC, DeFi/IPFi, Metaverse and GameFi, RWA (real-world assets), social applications, and infrastructure. Based on various sources, here are brief introductions to some key ecosystem projects:
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AI / AIGC Sector
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Stability AI: Well-known developer of generative AI models supporting image and media generation;
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Flock.io: Decentralized AI training platform based on federated learning;
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Dria: Decentralized multi-agent network that generates synthetic data using idle computing power;
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Ritual: Dedicated to integrating AI into blockchain, protecting model developers' ownership;
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Holoworld: Multimodal AI agent launch platform supporting text and voice interaction;
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Mahojin.ai: Search-to-generate AI platform leveraging Story's IP library for enhanced creative inspiration;
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MyShell, Poster, SoloAI: Exploring no-code AI app development, on-chain meme creation, and music composition respectively;
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BlockBook, Sekai, PlayArts, Morphic, and others empower creators in their respective fields using Story’s IP mechanisms.
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DeFi / IPFi Sector
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Mycelium Network: Provides cross-chain IP asset management and trading infrastructure;
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1Combo, PIPERX, Unleash Protocol: Building decentralized IP trading and licensing platforms;
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Verio: Launches the world’s first IP verification service, supporting liquid staking of IP;
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Color Marketplace, Storight, Story Hunt, and others focus on buying, selling, and providing liquidity for IP assets.
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Metaverse and GameFi Sector
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Emergence, EON RIFT, Gomble Games: Combine sci-fi, comics, and gaming elements to build digital universes on Story;
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PunkgaMe, Globkins, Jutsu World, Infinite Seas, Pixelmon, and others explore IP applications in comics, card games, and virtual trading.
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RWA Sector
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Aria: Tokenizes music and other IP assets via Story Protocol to achieve financialization;
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Zeal, Rightsfully, Singular, Loudr, and others work to bring real-world assets like traditional culture, film, and music onto the blockchain, safeguarding creators’ rights.
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Social and Infrastructure Sector
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Koniverse, orb.club, Spotlight Protocol, Magma, and others support social interaction and content sharing, further promoting widespread circulation of IP;
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LayerZero, Goldsky, Stakeme, Pimlico.eth, Privy, Blockdaemon, RedStone, Dynamic, Kaito, and others form a robust cross-chain, data indexing, authentication, and security infrastructure within the Story ecosystem.
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