To Understand Story, First Understand IP

• IP Itself is a Valuable Asset

Story is an L1 chain designed specifically for IP. To understand Story, we must first understand IP. IP is a vast market that encompasses brands, creative works, technological achievements, and more. Specifically, it can be a song, a game, a brand, a technology patent, or even something common in the crypto world like a meme or AI training data.

In other words, IP is a type of asset. As with any asset, there are needs for asset issuance, asset trading, and other related activities. This opens up a wide range of application scenarios for IP. For instance, it can be integrated with DeFi, and it can also be combined with AI agents, which will be discussed later.

• The Essential Difference Between Off-Chain and On-Chain IP Assets

On-chain IP is programmable, allowing the IP owner to control, own, and earn revenue through the IP. This contrasts with off-chain IP, which typically lacks these programmable features.

The Significance of Story for IP Assets

Since IP is an asset, the use cases available off-chain are fewer compared to those on-chain, particularly in terms of asset liquidity. On-chain, IP owners can not only retain control but also generate additional revenue through the market. This is the core significance of Story for IP assets. For Story, there are two types of IP markets: one is the off-chain IP asset tokenization market, similar to Real-World Assets (RWA); the other is the on-chain IP market that involves issuance, trading, and management of IP assets.

Market Economy Between Story and AI Agents

Story’s integration with AI is extensive. This includes: becoming an important source of training data with shared revenue among multiple parties; AI agents generating on-chain IP assets; AI agents utilizing Story’s on-chain IP assets; and commercial transactions between AI agents (such as trading training data, creative works, etc.). In other words, it forms an on-chain market that combines IP and AI agents.

The key reason why Story and AI agents can be integrated is the uniqueness of IP. Uniqueness is akin to DNA. This creates an excellent synergy for AI agents and model training.

It was previously mentioned that the collaboration between Story and Stability is a win-win for both parties. From Story’s perspective, it can use Stability’s AI models to provide a measurable contribution model for creators (including artists, developers, etc.). For example, one use case is: registering an artist’s unique style (whether a writer, painter, musician, etc.) as IP data that can be transparently used. This data can then serve as training data. For Stability, it can use Story’s IP data for fine-tuning and training its models. Once this collaboration generates income—for instance, when creators use the IP data to train and fine-tune their models—the participants in this ecosystem can all share the revenue.

Story’s goal with the introduction of its AI agents’ TCP/IP framework is to build a market for transactions between AI agents. This is key to maximizing Story’s IP characteristics and represents an important step in determining the future scale of its market.

From the current disclosures, Story’s TCP/IP is a framework that supports the exchange of IP between agents. Agents can trade training data, creative styles, investment strategies, and more with one another. Story plans to integrate frameworks like ai16z’s Eliza and Virtual’s GAME, and may also integrate others such as swarms and arc. The primary goal is to enable all agents to trade IP assets with one another.

For example, a human user or an institution could place a creative order with an AI agent known for its unique music style (IP). Based on the customer’s requirements, the AI agent might decide to purchase IP from another agent with a different music style (another unique IP) to merge and create a new music style (new IP), which it would then submit to the client. In this case, not only would there be interaction between humans and AI agents, but also between AI agents themselves.

This will create various types of interactions and transactions, ultimately forming a market filled with IP-based innovative assets. Additionally, Story has hired AI agent LUNA as its promotional intern, with a salary of up to $300,000. This also serves as a demonstration of how transactions can occur between AI agents on the Story platform.

Given that there will soon be countless on-chain AI agents, these agents will have a need for interaction and transactions with one another. The content of these transactions often involves IP. Story aims to capture this market, where, through its TCP/IP framework, it can manage a vast amount of IP, enabling AI agents to interact and trade without the need for trust or intermediaries. This will facilitate the thriving market for AI agent transactions.

In summary, the future will see an explosion of AI agents, and there will be a growing demand for transactions between them. Story’s framework is designed to help these AI agents interact and trade IP, thus creating a new type of on-chain economy. Ultimately, the success of Story will depend on the scale of IP transactions between AI agents based on its platform.

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