Paris Hilton, a16z back IP ownership network Story Protocol
Andreessen Horowitz, Paris Hilton and Samsung have invested in the new blockchain-based open IP collaboration network, Story Protocol. The new blockchain-based IP ownership network Story Protocol closed a $54 million funding round on Sept. 7, which included investments from big names like Paris Hilton’s 11:11 Media, and Andreessen Horowitz, also known as a16z. The platform uses blockchain technology to help content creators oversee and monetize their content in the face of fakes generated by artificial intelligence (AI). It plans to serve as a blockchain-based IP ownership repository for all types of content including text, image and audio. If artists eventually register with the protocol they can use connected services to sell the licensing rights for various other uses. The other co-founder of the project Seung-Yoon Lee estimated that in “in a year or two the level of remixed content through GenAI is going to be so much higher.” “In a world of total abundance catalyzed by gene...