Story Protocol Delays Major IP Token Unlock, Focuses on AI Data Licensing
- Story Protocol’s co-founder SY Lee announced a six-month delay for the first major IP token unlock, now set for August.
- The project aims to pivot from a general IP registry to licensing human-generated datasets for artificial intelligence training.
- Daily revenue peaked at $43,000 in September but currently stands at $0, raising investor concerns.
- Lee emphasized that much of the monetization occurs offchain through licensing agreements rather than onchain transactions.
- The low gas fee structure reflects Story’s focus as an IP chain, not a DeFi platform.
The decision to delay the token unlock is framed as a commitment to long-term growth rather than immediate liquidity, with Lee comparing it to Worldcoin’s recent lockup extension strategy. This approach aims to stabilize supply while developing partnerships in AI data licensing.
As Story Protocol shifts its focus, the current lack of onchain income highlights the challenges faced by projects transitioning away from traditional revenue models in favor of enterprise-level deals.(Source)
