Story Protocol has announced a strategic collaboration with OKX Ventures.
Story Protocol is an L1-blockchain specialized in resolving intellectual property (IP)-related matters through programmability (AI) and blockchain technology.
On the other hand, OKX Ventures is a venture fund focusing on investing in early-stage firms within the gaming, crypto, and blockchain industries.
The Fund is Supporting Exceptional Teams
Based on this partnership, Story Protocol and OKX Ventures have launched a $10 million fund to invest in (support) early-stage projects working in the overlap between AI (artificial intelligence) and IP (intellectual property). Applications are now open, according to the announcement. This means that projects operating in the intersection of these two sectors can now send their applications.
The fund wants to support early-stage companies of what it believes are some of the most disruptive firms in the AI and IP sectors – those developing the future of finance.
Projects working in these categories: Cultural IP marketplaces, AI licensing engines, IP RWA protocols, and protocols for monetization, attribution, and tracking of derivative works, are targeted to be supported by this fund.
The merger of these areas is developing unique opportunities for internationally linked, user-focused financial experiences. OKX Ventures and Story Protocol are ready to back projects developing these innovations.
Laying the Foundation for a Decentralized Internet
The collaboration between the two firms holds immense importance in the Web3 sector, particularly for issues dealing with IP (intellectual property).
The fund is set to pump money and support into early-stage projects working in the IP sector amid the era of AI. The fund will help projects with potential innovations to build their prototypes into completely developed products. This helps to promote innovations within the sector.
This establishment of the fund broadens OKX Ventures’ long-established recognition of its support for transformative markets. Together with OKX Ventures’ robust reputation in venture capital, this collaboration positions Story Protocol as an important partner for emerging innovative startups.
