TechFlow news, on August 21, according to Decrypt, PIP Labs, the developer of the on-chain IP protocol Story Protocol, announced it has raised $80 million in a Series B funding round led by Andreessen Horowitz (a16z), with participation from Polychain and other institutions. This round brings PIP Labs' total funding to $140 million.
Story Protocol aims to revolutionize intellectual property management and licensing through blockchain technology. The platform plans to launch its public testnet next week, enabling users to register intellectual property, set licensing parameters, and tokenize IP assets. Jason Zhao, co-founder and Chief Product Officer of PIP Labs, said blockchain systems can replace "medieval outdated systems" to better capture and distribute creative value.
