Lưu trữ cho từ khóa: fundraising

Công nghệ

Story Protocol maker secures $80m to transfer IP rights onto blockchain

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PIP Labs, the core contributor to layer-1 network Story Protocol, has raised $80 million to build an ecosystem where creators can “grow their IP in the age of AI.”

Programmable IP Labs, the mastermind behind the blockchain startup Story Protocol, has attracted $80 million in a series B funding round, bringing the total value raised to $140 million.

PIP Labs wants to tokenize the “multi-trillion-dollar asset class of intellectual property” as more than “200 teams, totaling more than 20 million addressable IPs, are already building on Story across various sectors.”

In an X announcement on Aug. 21, the firm said the funding was led by a16z crypto and participated in by Polychain Capital, Hashed, and Foresight Ventures, among others. According to reports, Story’s valuation soared to $2.25 billion following the latest funding.

“We hope for a future in which AI systems and creative people can happily co-exist. For this to work, creators need a modern way to ensure they get compensated for their work.”

a16z crypto in a press release

Story set to launch mainnet in Q4 2024

Although still in development, the funding is expected to assist PIP Labs in ensuring a smooth launch of Story Protocol’s mainnet, which is anticipated later this year. It remains unclear, though, if the startup plans to introduce a governance token for project management.

Founded in 2022, Story uses tokenization and a universal licensing agreement to onramp IP to the blockchain. Per the project’s official website, Story wants to bridge real-world assets to smart contracts by leveraging the Programmable IP License, a “license agreement template” that bridges real-world IP with its on-chain tokenization, the firm says. With the template, PIP Labs wants to provide a backstop to the on-chain asset, allowing it to onramp intellectual property to the blockchain.

In 2023, Story raised $25 million in a series A round backed by a16z crypto, Insignia Ventures Partners, DeFi Alliance, LLC, Foresight Ventures Investments, and Endeavor Group Holdings, among others, per data from Crunchbase.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Bitcoin layer-2 startup Bitlayer raises $11m

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Bitlayer says it has raised $11 million in its series A round led by Franklin Templeton and ABCDE, bringing its total funding to $16 million.

Bitcoin-focused layer-2 solution Bitlayer has secured $11 million in a Series A funding round led by Franklin Templeton and ABCDE to expand the list of supported protocols with the ecosystem built atop BitVM, a system that allows smart contracts to be executed on the Bitcoin network.

Although the firm’s valuation wasn’t disclosed, the fresh capital is expected to bolster Bitlayer’s development of its Web3 platform, which operates atop BitVM, a system enabling smart contracts in the Bitcoin ecosystem.

Commenting on the funding, BMAN, managing partner of ABCDE Capital, explained that Bitlayer’s unique position in accumulating over $500 million in total locked value with approximately 300 projects underscores its pivotal role in the Bitcoin network.

“As it realizes native verification on Bitcoin, Bitlayer will become the first native Bitcoin layer-2, a seminal moment in the history of Bitcoin,” BMAN added in a Tuesday press release.

With the fresh capital, Bitlayer wants to expand its ecosystem by supporting the Web3 protocols built specifically within it. Additionally, the funds will go toward developing Bitlayer’s Mainnet-V2, a Bitcoin-native rollup in which layer-2 state transition is “guarded by a Bitcoin-friendly proof system that combines both ZK and fraud proofs,” the press release reads.

In February, crypto-focused venture capital giant Pantera Capital projected that the Bitcoin-based ecosystem of the decentralized finance sector could accumulate hundreds of billions of dollars in liquidity through Web3 protocols, particularly if it achieves similar market shares as those on the Ethereum blockchain.

Historically, decentralized applications on Ethereum have constituted between 8% and 50% of its market cap, with a current figure of around 25%. Based on these proportions, Pantera Capital estimates Bitcoin could see an influx of approximately $225 billion in value.

In the release, the startup revealed that Stake Capital Group, WAGMI Ventures, Skyland Ventures, and GSR Ventures, among others, also supported the funding.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News