Story Protocol plans to launch an IP-focused Layer 1 this year.

ChainCatcher news, Jason Zhao, co-founder of the blockchain startup Story, stated that the Layer 1 network customized for intellectual property management is expected to launch later this year.

The project is backed by prominent venture capital firms, including Paris Hilton's 11:11 Media, Samsung Ventures, and Andreessen Horowitz.

Jason Zhao mentioned that Story was founded in 2023 and has already accumulated over 50 clients who are looking to integrate IP-centric tools into their businesses, including some well-known NFT projects.