A New Paradigm for Intellectual Property Management in the Web3 Field

In recent years, the intellectual property ( IP ) market has shown a vigorous development trend. Statistics show that the global intellectual property market size was approximately $180 billion in 2020, and it is expected to maintain a compound annual growth rate of about 8.5% in the coming years. The global number of patent applications exceeded 3.27 million in 2020, a year-on-year increase of 1.6%; trademark applications saw a significant increase of 13.7%, reaching about 17.1 million. It is worth noting that the Asia region has performed prominently in intellectual property activities, accounting for 64% of the total global patent applications.

However, as the scale of the IP market continues to expand, traditional IP management models also face numerous challenges. For example, there is insufficient liquidity for IP, issues of protection and transparency, and a lagging legal system. Against this backdrop, tokenizing IP and introducing blockchain technology may provide new solutions to these problems.

As a blockchain-based IP management platform, Story aims to revolutionize the way of creation. The project aims to achieve full lifecycle management of IP creation, management, and licensing through blockchain technology, forming a reconfigurable "story legos" ecosystem. The Story platform supports features such as source tracking, frictionless licensing, and revenue sharing, allowing creators to create more freely and benefit from it.

Story Network is a general-purpose Layer 1 blockchain specifically designed to handle complex IP data. It combines compatibility with the Ethereum Virtual Machine (EVM) and the scalability of the Cosmos SDK, supporting not only efficient processing of complex IP data structures but also interoperability with other blockchains. The execution layer of Story Network introduces a graph data storage mechanism, allowing for rapid and cost-effective traversal of large IP relationship networks.

One of the core innovations of Story is the Proof-of-Creativity protocol. This protocol enables the digitization and automated management of IP, supporting features such as permissionless licensing and automatic royalty payments. On the Story Network, IP is no longer just static legal terms, but rather smart contracts that can take autonomous actions.

Story has also launched a programmable IP license (PIL), which serves as an important bridge connecting blockchain and real-world law. PIL offers a range of pre-configured options, allowing creators to easily set the usage conditions of their works, while also supporting custom licensing agreements.

In order to promote the development of the ecosystem, Story has established the Story Academy program to provide comprehensive support for builders and innovators. With the assistance of this program, several projects have successfully applied the relevant protocols of the Story Network, such as the design tool Magma, which supports over 2 million users, and Mahojin, which focuses on AI training data IP tagging.

Although Story has performed well in terms of financing, technology, and implementation, the IP market is still in its early stages, and the long-term development of the project requires the test of time. With the continuous advancement of Web3 technology, it is believed that innovative projects like Story will bring more possibilities for intellectual property management.