Source: The Block
Story Protocol, a San Francisco-based blockchain startup, raised $80 million in a Series B funding round, bringing its valuation to $2.25 billion in just two years. The investment, led by Andreessen Horowitz with support from cryptocurrency investor Polychain Capital and others, comes as AI poses unprecedented risks to intellectual property (IP) protection.
Founded in 2022, Story Protocol has since raised a total of $140 million, according to the company. This new investment round demonstrates the possibility for blockchain technology to address growing concern over IP rights in the age of AI.
Other investors in the most recent round included Stability AI Ltd. Vice President Scott Trowbridge, K11 Founder Adrian Cheng, digital art collector Cozomo de’ Medici, Hashed, and Brevan Howard, a European hedge fund founded by British billionaire Alan Howard.
Given that Story was co-founded by Seung Yoon Lee, a South Korean company developer, the current round included Korean investors such as Samsung Next, Samsung Electronics Co.’s overseas investment arm, and Bang Si-hyuk, founder of HYBE Co., the label behind boy band sensation BTS.
Read the full article: https://blockchaintechnology-news.com/news/story-protocol-secures-80m-to-combat-ai-driven-ip-theft/
