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Explain like I’m a kid

Imagine you are living in a world where music, art, and game creators can easily protect and share their work. That’s the world Story is building! It’s like a giant Lego set for creativity, where every piece of intellectual property (IP) fits together smoothly.

Right now, protecting and sharing your IP is complicated. Story makes it easy by putting IP on the blockchain, allowing creators to license their work and get paid when others use it.

Story is doing for intellectual property like Bitcoin and Ethereum did for money. It’s creating a space where artists can freely express themselves and be treated fairly.”

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What is Story?

The Story is a system that helps creators manage their intellectual property (IP) more easily. Story uses blockchain technology to make tasks like registering, licensing, and managing payments for IP simple, clear, and automatic.

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The problem with IP systems at the moment

Currently, IP management can be challenging. The traditional legal system is outdated, slow, and expensive, especially for freelance writers. Since licensing and ensuring fair pay are often complex and challenging procedures, many creators are vulnerable to exploitation.

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The Story Solution

Story make IP management easier by using blockchain technology. Here’s how it works with:

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1. Story (Layer 1)

The Story is the core of the platform. This is designed to manage complex intellectual property (IP). It offers fast, affordable transactions and is compatible with Ethereum, allowing seamless integration with other blockchain systems. The network also features a graph-like storage system, which makes managing IP assets more organized and efficient, and enables developers to easily port their applications written in Solidity.

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2. Proof of Creativity Protocol

The Proof of Creativity Protocol simplifies how creators manage and protect their work. It allows them to register their creations on the blockchain, where they receive a digital certificate to confirm ownership. It guarantees that creators are always recognized and compensated fairly when their work is used.

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3. Programmable IP License (PIL)

The Programmable IP License (PIL) is a smart contract that automates the use and sharing of IP on the blockchain, linking real-world IP to its digital version with customizable rules. Through Onramps & Offramps, creators can convert their IP into digital assets with legally binding terms, removing the need for lawyers and paperwork.

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Why Story Matters?

Story offers:

  • Transparent transaction: Every IP transaction is recorded on the blockchain, providing a tamper-proof record of everything about that IP.
  • Simplification: With everything automated on the blockchain, licensing and royalty distribution happen automatically.
  • Collaboration: Creators can easily collaborate with others based on Story’s terms, promoting an open and dynamic creative ecosystem.

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Real-World Applications

  • Artists can upload their IP to Story, set licensing terms, and receive automatic royalties whenever their IP is used.
  • Researchers and AI creators can use Story to register their datasets or models, ensuring they are credited and compensated whenever their work is used in AI training or commercial products.
  • Independent Creators can easily license their work, collaborate with others, and receive fair compensation for their IP use on Story.”

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The Concept of Story

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Overview

Story converts intellectual property (IP) into a dynamic, programmable asset on the blockchain. Central to this is Proof-of-Creativity, which features an open and programmable IP layer that simplifies the management, licensing, and monetization of IP for creators, eliminating the complexities and costs of traditional systems.

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Key Features of Story

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🧩 IP Asset

An IP Asset is a digital representation of intellectual property (IP). Whether your IP is already on-chain or off-chain, you can easily register it on Story. Once registered, it becomes an on-chain asset (NFT), which has a unique identity on the blockchain.

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⚙️ IP Account

The IP Account is a smart contract linked to each IP Asset. It does two main feature:

  • Stores Information: It holds essential details like licensing and royalty terms.
  • Enables Interaction: It makes your IP interactive by allowing actions like licensing, sharing revenue, and remixing through modules.

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🧱 Modules

Modules are customizable contracts that add extra functionality to your IP Account. These allow creators to decide how their IP is used, licensed, and monetized. Some important modules include:

  • Licensing: Automatically manages licensing and usage rights.
  • Royalty: Guarantees automatic payments to creators.
  • Dispute: Helps resolve disagreements about IP usage.
  • Grouping: Helps organize IP assets for better management and collaboration.

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🗂️ Registry

The Registry is a global directory that helps manage and store IP assets, ensuring they are accessible and correctly handled.

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💊 Programmable IP License (PIL)

The PIL is a legal contract that defines how an IP can be used. It specifies conditions like whether an IP can be remixed or commercialized, who can use it, and under what terms. These terms are encoded both off-chain (as a legal document) and on-chain, making licensing simple, transparent, and automated.

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Why It Matters

Story democratizes the control and use of IP. By bringing IP onto the blockchain, it removes traditional barriers like expensive legal processes and lack of control. Creators can now easily license, remix, and share their work on their own terms—automatically, transparently, and fairly.

Story’s programmable IP assets, automated royalties, and decentralized licensing systems create a new ecosystem where IP can thrive freely, enabling more innovation, collaboration, and opportunity for creators around the world.”