Story Protocol is implementing the integration of blockchain technology into intellectual property (IP) management. By leveraging blockchain’s decentralized and immutable ledger, Story Protocol offers a comprehensive framework for creators to register, license, and monetize their IP assets efficiently and transparently. Cool right?
Key Features of Story Protocol:
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Tokenization of IP Assets: Creators can represent their intellectual property as NFTs on the Story protocol’s mainnet, providing a unique and verifiable identity for each IP asset. This tokenization ensures secure ownership records and facilitates easier transfer and licensing of IP rights.
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Programmable IP Licensing (PIL): The protocol introduces Programmable IP Licenses, which are smart contracts that automate and enforce licensing terms. These licenses allow creators to set customizable terms, such as usage rights, royalties, and distribution channels, ensuring that agreements are executed automatically and transparently. Agreements on Blockchain cool right?
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Automated Royalty Distribution: Through smart contracts, Story Protocol automates the distribution of royalties to creators whenever their IP is used or monetized. No worries, upload your IP, let them use your IP ,get paid as royalty,fees for their usage of your IP.
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Integration with AI and Digital Platforms: Story Protocol is designed to work seamlessly with AI applications and digital platforms, enabling creators to manage and monetize their IP in various digital contexts. For instance, it allows for the tracking and licensing of AI-generated content, ensuring creators retain control and receive compensation for their works.
THIS IS ALL WHAT STORY PROTOCOL DOING,
Thanks to Jason for bringing IP into the Blockchain.