A beginner's guide to Story Network, the programmable IP blockchain that transforms intellectual property (IP) into liquid, digital assets.
What is Story Network?
Story Network is a blockchain designed specifically for bringing IP onchain, making it easier to manage and monetize. It represents IP as onchain assets called IP Assets (NFTs), which carry detailed metadata and serve as digital representations of the underlying IP.
Each IP Asset is linked to an IP Account, a specialized smart contract that manages interactions and data related to the IP.
Core Components of Story Network
Proof-of-Creativity (PoC) Protocol
- Facilitates the creation and management of IP Assets.
- Enables use cases like permissionless licensing and automated royalty payments.
Programmable IP License (PIL)
- Bridges onchain and traditional legal systems.
- Ensures enforceability of digital IP representations in real-world scenarios.
How is Story Network Designed?
Story Network is a Layer 1 (L1) blockchain optimized for handling complex IP data. It combines elements from:
- Ethereum Virtual Machine (EVM) for compatibility with Solidity smart contracts.
- Cosmos SDK for scalability and interoperability within the Cosmos ecosystem.
Nouns and Verbs Architecture
- Nouns (IP Assets): NFTs representing IP (e.g., art, music, patents).
- Verbs (Modules): Customizable programs extending IP Account functionality.
Key Modules
| Module | Functionality |
|---|---|
| Licensing | Defines terms for IP use (e.g., commercial rights, royalties). |
| Royalty | Automates payments to creators and tracks derivative works. |
Why Tokenize IP on Story Network?
- 🌊 Liquidity: Trade IP or use it as collateral.
- 🧱 Programmability: Embed automated actions (e.g., royalties).
- 🔍 Transparency: Immutable ownership records onchain.
Use Cases
- Creators: Register IP as NFTs, set licensing terms, and monetize work.
- Developers: Build apps like AI marketplaces or remix platforms.
👉 Explore Story Network’s early apps
FAQs
1. How does Story Network handle offchain IP?
IP Assets can represent offchain items (e.g., patents, trademarks) by linking metadata to NFTs.
2. What’s the role of PIL?
The Programmable IP License ensures onchain IP terms are legally enforceable.
3. Is Story Network EVM-compatible?
Yes, it supports Ethereum smart contracts with minimal changes.
4. How are royalties automated?
The Royalty Module distributes payments based on predefined terms.
Conclusion
Story Network pioneers programmable IP by merging blockchain with creative ownership. Its success hinges on adoption across global legal systems—especially for AI-generated content.
👉 Follow Story Network’s updates to stay informed!
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