Investors, led by well-known venture capital firm Andreessen Horowitz, have recently supported a blockchain company that aims to help content creators monetize their work in the era of artificial intelligence (AI). This tech firm plans to utilize blockchain technology to track and manage remixes and mashups that have become prevalent online with the rise of AI tools like Chatgpt.
Story Protocol, a U.S.-based blockchain company, has gained the backing of a group of investors, including Andreessen Horowitz, for its initiative to assist content creators in tracking and monetizing their work in the age of generative AI. Despite the decreased interest in crypto startups among investors, Story Protocol managed to raise an impressive $54 million in funding. Other notable investors include Hashed, Endeavor, Samsung Next, TPG Capital founder David Bonderman, and Paris Hilton’s 11:11 media.
To address the increasing number of remixes and mashups created with AI tools, Story Protocol plans to establish a blockchain-based repository of intellectual property for different types of content, such as prose, images, and audio. Content creators will be able to register their work in this repository and use affiliated apps to sell licensing rights. The investment received will enable Story Protocol to launch its blockchain technology in the first half of 2024.
Hashtags: #blockchain #AI #contentmonetization #technology
Keywords: blockchain company, content creators, monetize, artificial intelligence, AI tools, remixes, mashups, Andreessen Horowitz, investors, Story Protocol, generative AI
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