WOO X Research: Another 'WOO' Level Project? Story is coming online soon, overview of ecosystem projects

Recently, a series of high-financing projects have launched coins, including Solv, Berachain, Solayer, and B3. Due to the recent overall poor sentiment of altcoins, the performance of most new coins on exchanges is not as expected. Can Story Protocol, backed by a16z, polychain, and other star investment institutions, break the deadlock?

What is Story?

Story Protocol is a Layer 1 blockchain designed specifically for intellectual property (IP). Its main idea is to digitize and put intellectual property on the chain for automated management using blockchain technology. Specifically:

Digitalization of IP assets: Each IP is represented by an NFT that complies with the ERC-721 standard, ensuring the uniqueness and tamper resistance of each IP; meanwhile, combining the Token Bound Account (TBA) based on the ERC-6551 standard as a dedicated IP account, used to store and manage metadata, authorization information, and royalty records related to IP.

Modular design: Story Protocol has established multiple functional modules, including authorization module, royalty module, dispute resolution module, and grouping module, allowing IP authorization, revenue distribution, and dispute resolution to be automatically executed through smart contracts.

AI agents and the exchange market: Its innovative Agent TCP/IP protocol allows AI agents to interact with each other, trade IP assets, such as trading training data, creative styles, etc., further promoting the financialization and marketization of IP.

Story Protocol is not just an ordinary IP public chain. Its innovation lies in its combination with AI agents:

ATCP/IP Protocol: endows legal personhood to AI agents and establishes a decentralized IP exchange process, enabling automatic execution from request, clause formulation to payment and delivery;

AI agent application cases: Whether it's AI artists like Zerebro, virtual idols like Luna, or crypto market analysts like AIXBT, all can achieve efficient transactions of autonomous collaboration and intellectual property rights through Story.

IP Token Economy & Valuation

The core function of $IP

Staking: Users can stake $IP to participate in PoS consensus, ensuring network security and stability;

Gas Trading: $IP serves as the Gas token of the network, used to pay various transaction fees (such as authorization fees, royalty distribution, etc.), and a portion of $IP will be burned in each transaction, which may generate deflationary effects in some cases;

Ecological governance: Users holding $IP participate in ecological governance, deciding the future direction of development.

The allocation structure of $IP

38.4% for the ecosystem and community: This part will support community construction, incentive plans, and the promotion of ecological projects;

10% as initial incentives: to reward early actual participants and users of the ecosystem;

10% allocated to the Foundation: reserved for supporting the long-term development, research, and ecological resources of the project;

21.6% to early backers: rewarding early investors and risk takers;

20% is allocated to core contributors: rewarding the core team and individuals who have made significant contributions to the project.

In addition, the initial supply of $IP is set at 1 billion, with only 25% being unlocked initially, and the remaining portion being gradually released according to a 48-month unlocking schedule.

According to Rootdata data, the final valuation of Story Protocol's last round is 22.5 billion US dollars FDV, with a total supply of 1 billion coins and a single coin price of 2.25 US dollars, ranking approximately 68th.

If calculated with an initial circulation of 25% at a price of 2.25, the market value would be approximately 562.5 million US dollars, ranking 143rd in market value. The current off-exchange price is 3.5 US dollars, and it is crucial to observe whether it will fall below 2.25 US dollars after listing.

Ecological Project Overview

Story Protocol ecosystem is extremely rich, covering multiple areas from AI/AIGC, DeFi/IPFi, Metaverse and GameFi, RWA (Real World Assets), social applications to infrastructure. According to various reference materials, here are brief introductions to some of the main ecological projects:

AI / AIGC field

Stability AI: Well-known generative AI model developer, supporting image and media generation;

Flock.io: Decentralized AI training platform based on federated learning;

Dria: Decentralized multi-agent network, can convert idle computing power to generate synthetic data;

Ritual: Committed to integrating AI into blockchain, maintaining ownership of model developers;

Holoworld: multimodal AI agent launch platform, supporting text and voice interaction;

Mahojin.ai: Search and generate AI platform, combined with Story's IP library to provide more creative inspiration;

MyShell, Poster, SoloAI: exploring no-code AI application building, on-chain emoji creation, and music creation, respectively;

BlockBook, Sekai, PlayArts, Morphic, etc. are also empowering creators in their respective fields using the IP mechanism of Story.

DeFi / IPFi field

Mycelium Network: Providing infrastructure for cross-chain IP asset management and trading;

1Combo, PIPERX, Unleash Protocol: Building a decentralized IP trading and licensing platform;

Verio: Launches the world's first IP verification service, supporting IP collateralization;

Platform such as Color Marketplace, Storight, and Story Hunt focus on the trading and liquidity provision of IP assets.

Metaverse and GameFi field

Emergence, EON RIFT, Gomble Games: Combining elements of science fiction, comics, and games to build a Story-based digital universe;

Projects such as PunkgaMe, Globkins, Jutsu World, Infinite Seas, Pixelmon, etc. are exploring IP applications in the fields of comics, card games, virtual trading, and more.

RWA field

Aria: Using the Story protocol to tokenize intellectual properties such as music, achieving asset securitization;

Zeal, Rightsfully, Singular, Loudr, etc. are committed to putting traditional culture, film and television, music and other real-world assets on the chain to protect the rights of creators.

Social and infrastructure sector

Applications such as Koniverse, orb.club, Spotlight Protocol, Magma support social interaction and content sharing, further promoting the widespread circulation of IPs;

LayerZero, Goldsky, Stakeme, Pimlico.eth, Privy, Blockdaemon, RedStone, Dynamic, Kaito, etc., constitute a complete cross-chain, data indexing, authentication, and security infrastructure in the Story ecosystem.