PIP Labs, the developer of Story, an IP blockchain platform leading the AI era, has partnered with STR8FIRE, an IP RWA project that combines fan participation and blockchain technology, to support more transparent and seamless tokenization and monetization of entertainment IP.
STR8FIRE tokenizes Hollywood-grade entertainment IP real assets (RWAs) to allow fans and investors to freely buy, sell, and trade entertainment assets such as movies, comics, and games on-chain. Story is a blockchain platform that tokenizes knowledge in the AI era into IP to protect, share, and monetize it, enabling automated monetization of not only humans but also AI agents.
Through this collaboration, STR8FIRE will build an IP monetization platform for stories and provide a transparent and fair IP marketplace. Combining STR8FIRE’s expertise in entertainment IP development and management with an IP tokenization framework that guarantees proof of story origin and monetization, IP owners and investors will be able to generate revenue more smoothly through transparent ownership management and an automated revenue distribution system.
Starting with the digital universe project of legendary Wu-Tang Clan member Ol' Dirty Bastard, STR8FIRE will continue to add major IPs to the platform. The upcoming IP Launchpad will allow fans to directly own content shares of their favorite artists, while investors will be able to easily trade their IP shares.
“Innovative projects like STR8FIRE that combine famous IPs with blockchain through stories are a sign that the digital transformation of the IP industry is in full swing,” said Jason Zhao, co-founder of PIP Labs. “Storytelling creates a marketplace that can expand human knowledge and creativity, laying the foundation for a new type of knowledge economy where IP encompasses AI and decentralized finance (DeFi).”
“We are going beyond simple asset tokenization with Stories to create an ecosystem where IP management and revenue distribution are automated and transparent,” said Chris Eisberg, CEO of STR8FIRE. “This collaboration provides IP owners with new revenue opportunities and fans with the opportunity to directly invest in the IP they love.”
Meanwhile, PIP Labs, established in San Francisco, USA, is a core developer of stories. It was co-founded by Jason Zhao, a former Google AI subsidiary DeepMind employee, at the age of 22, and has attracted a total of $140 million (about 190 billion won) in investment. In particular, the world's largest venture capital Andreessen Horowitz (a16z) led three consecutive investment rounds, which is a very rare case, with Coinbase being a representative example. The company's current value is $2.25 billion (about 3 trillion won).
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