L1 blockchain Story Protocol developer PIP Labs has completed a $80 million Series B financing, led by a16z.

ChainCatcher news, Layer1 intellectual property blockchain Story Protocol developer PIP Labs announced the completion of a $80 million Series B funding round, led by a16z crypto, with participation from Polychain, Stability AI Senior Vice President and Board Member Scott Trowbridge, K11 founder Adrian Cheng, digital art collector Cozomo de'Medici, No Capital, and others. This new round of financing brings PIP Labs' total funding to $140 million.

According to Techcrunch, sources revealed that the post-funding valuation of Story Protocol developer PIP Labs is currently $2.25 billion.

Story Protocol is an intellectual property blockchain aimed at tokenizing trillion-dollar intellectual property assets, unlocking limitless creativity with programmable IP+AI. Currently, the number of IPs on the Story Protocol chain has surpassed 20 million, with over 200 teams building applications in IPFi, AI, and consumer markets.