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Story Network: IP Blockchain Explained
Intellectual property (IP) includes creations such as artistic works, designs, images, inventions, names, and symbols.
This includes a wide range of assets, from AI models to game assets.
Despite its enormous value, estimated to be in the trillions of dollars, intellectual property often remains locked into an outdated legal system that makes it difficult to license, monetize, and trade effectively.
Here’s where the new comes in Network of stories Here comes a new blockchain that aims to transform intellectual property into liquid, programmable, and proprietary digital assets.
Since the chain is completely new and focused on NFTs, let’s dive into its design, how it works, and the potential applications it offers.
What is Story Network?
through History
Network of stories It was created specifically to bring IP onchain, making it easier to manage and monetize.
On Story Network, intellectual property is represented as onchain assets called IP Resourceswhich are NFTs. These NFTs contain detailed metadata about the underlying IP and serve as digital representations. They can be linked to existing NFTs, such as a CryptoPunk, or issued to represent off-chain items.
Each IP resource is linked to a IP Account, a specialized smart contract that manages interactions and IP-related data.
Even in the heart of 
Another key pillar here is the Programmable IP License (PIL)a legal framework that connects the onchain world with traditional legal systems, ensuring that the digital representation of intellectual property on Story Network is enforceable in the real world.
How is Story Network designed?
Story Network is a Level 1 (L1) blockchain optimized to efficiently handle complex IP data structures that relies on elements from both Ethereum Virtual Machine (EVM) and the Cosmos Development Kit.
In particular, Story Network is EVM Equivalentwhich means it supports the same code execution environment as Ethereum. This compatibility allows developers to port existing applications and smart contracts written in Ethereum’s popular Solidity programming language to Story Network with little to no changes.
As for Cosmos SDK, it provides the basic framework for Story Network consent AND network levelsoffering high scalability and low transaction costs. This design choice also allows Story Network to interact with other blockchains within the Cosmos ecosystem, improving its flexibility.
The architecture of nouns and verbs
Story Network employs a names AND verbs architecture in its approach to intellectual property.
IP Assets are the names, aka the things. Remember these are the NFTs that represent pieces of intellectual property on Story Network. These assets contain metadata and are associated with IP Accounts that manage their data and interactions.
On the other hand, Story modules are verbs. Modules are customizable programs that define and extend the functionality of IP accounts. Developers can create modules to meet various business logic needs.
For example, the License form on Story Network simplifies the licensing process. Creators can define license terms and attach them to their IP Assets, allowing others to mint License Tokens.
The aforementioned PIL framework then provides a standardized and customizable legal contract that defines how such intellectual property can be used, covering aspects such as commercial use, attribution and royalty terms.
In addition, there is the Royalty Formthat automates royalty distribution. When an IP Asset is used or generates revenue, the Royalty Module ensures that payments are automatically distributed according to predefined royalty terms.
This module also tracks relationships between original and derivative works, ensuring that all contributors receive their fair share of royalties. This feature is especially useful for complex IP relationships involving multiple creators and remixers.
Why tokenize IP on Story Network?
IP tokenization on Story Network offers several notable benefits:
- 🌊 Liquid assets — Intellectual property can be traded or used as collateral, creating new financial opportunities.
- 🧱 Programmability — Automated actions such as royalty payments can be integrated into NFT IPs, making them easier to manage.
- 🔍 Transparency — The underlying blockchain provides a clear and immutable record of intellectual property and transactions.
These are compelling pillars for content creators, but what will the concrete use cases be?
For example, artists, musicians, writers, and more can register their intellectual property as NFTs on Story Network, set licensing terms, and automate royalty payments. This makes it easier to control and monetize their work.
For developers, they can build applications that leverage tokenized IPs. Think of things like AI model marketplaces, content remixing platforms, and DeFi apps that use NFT IPs as collateral.
Two of the first examples of apps in the Story ecosystem are Magma and MohojinThe first is a collaborative design tool that uses Story Network to manage and monetize creative works through NFTs, while the second is a platform for AI data and training models.
Zoom out
How might making IP programmable and liquid affect the interaction between creators and consumers? Will tokenization and IP exchange democratize access to creative works? And how effectively can the PIL system adapt to different global legal landscapes, especially as AI-generated content becomes more widespread?
The answers to these questions are yet to be seen, but Story Network is diving in here in an unprecedented way and is looking to disrupt the future of digital intellectual property through cryptoeconomics. As the chain evolves and gains traction, its positive case is its potential to redefine intellectual property management to better align with the challenges of 21st century content.
Will Story win, then? We’ll see, but this innovative take on new territory is still exciting — stay up to date on the project accordingly!