Layer 1 IP blockchain Story Protocol completes $80 million Series B financing, led by a16z Crypto

BlockBeats news, August 21, according to The Block, Intellectual Property Blockchain Story Protocol developer Programmable IP (PIP) Labs completed $80 million in Series B financing, led by a16z Crypto, with participation from Polychain Capital and others, and angel investors including Stability AI senior vice president and board member Scott Trowbridge, K11 founder and billionaire Adrian Cheng, and digital art collector Cozomo de' Medici.

It is reported that the company raised $54 million in Series A last year, led by a16z crypto. Jason Zhao, co-founder and chief product officer of PIP Labs, said: "There were some smaller angel investments between Series A and Series B," which brought the total financing to $140 million.

In addition, according to techcrunch, citing sources, PIP Labs is currently valued at $2.25 billion.

The "IP blockchain" that Story Protocol is building is a system and platform where creators can claim ownership of a piece of content, set usage parameters around that IP, and allow others to obtain permission and use it.