A16Z is a venture firm that leverages future technology. In the world of digitalization, A16Z is backing a revolutionary project known as Story Protocol, which is the next internet. This Web3-based technology is entering us into a realm of creativity and innovation.
Hashed’s CEO and directing Partner, Simon Kim, claims the Story Protocol transforms IP creation and offers transparent ownership features. The primary purpose of developing the Story Protocol is to establish global accessibility to open IP repositories.
Story protocol employs a standardized framework to control and manage each stage of IP formation. This framework provides verification features, transparency for tracing, exchange of funds, and accurate documentation.
According to Seung Yoon, the Story Protocol has the potential to usher in a new era of innovation. It offers current IP owners a new approach to captivating audiences and expanding their IPs.
This protocol has been specifically designed for the diversion and media sectors. It allows authors, writers, journalists, artisans, and musicians to maintain the originality of their creative works.
Thus, Protocol enables individuals to effectively manage and monetize their authorization within the field of AI. As an illustration, a registered writer on the platform can use other services by selling their license.
The project has captured the attention of numerous experts who contribute value to its development. These include certifying modules, investment support, IP discovery, crowdsourcing for AI advancements, and fostering community growth. The decentralized nature of Story Protocol ensures a secure platform for the community.
A16Z Raised $54M For The Project
A16Z has raised over $54 million through a consortium of financiers to launch Story Protocol Stage A. This group of investors includes prominent names. Such as Samsung Next, Insignia Venture Partners, Hashed, Nicolas Berggruen, Paris Hilton’s 11:11 Media, Endeavors, Dao5, the CEO of TPG Group and Allen from Wattpad Co-founder and Eva Lau’s Two Small Fish Ventures. Alongside other contributors like Chang Kim and Sanghun Kim.
Jashon Zhao, one of the co-founders of A16Z, expressed that in early 2024, the company plans to use these funds to kickstart the implementation of the protocol.
Ben Enowitz, SVP at Endeavor, emphasizes the irreplaceable role of genuine human innovation and creativity in the face of advancing technology. This platform aims to unite industries and unlock the promising advantages of emerging IP.
Enthusiastically supporting Story Protocol’s mission, he expresses the organization’s eagerness to generate and disseminate new IP on a global scale
A16Z, the prominent investment company, focuses on high-value projects with significant potential. The majority of investment proposals receive strong support from A16Z. In the eyes of the audience, Andreessen Horowitz is widely acknowledged as a highly skilled venture capital company with a comprehensive investment strategy.
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“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”
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