San Francisco-based startup Story has raised $80 million to develop a blockchain designed to protect creators' intellectual property from being used without permission by AI companies like OpenAI. Story raised funds in a Series B round, led by Andreessen Horowitz. Other investors included crypto-focused firm Polychain and Brevan Howard, the investment fund of billionaire Alan Howard. Story aims to prevent copyright infringement by embedding licensing and royalty terms into smart contracts on its platform. The funding will help Story expand its IP network and onboard more developers. The technology allows creators to safeguard their work in an increasingly AI-driven world.
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00:00It's Benzinga, and here's what's on the block.
00:03San Francisco-based startup Story has raised $80 million to develop a blockchain designed
00:08to protect creators' intellectual property from being used without permission by AI companies
00:12like OpenAI.
00:14Story raised funds in a Series B round led by Andreesen Horwitz.
00:18Other investors included crypto-focused firm Polychain and Brevin Howard, the investment
00:23fund of billionaire Alan Howard.
00:25Story aims to prevent copyright infringement by embedding licensing and royalty terms
00:29into smart contracts on its platform.
00:32The funding will help Story expand its IP network and onboard more developers.
00:36The technology offers a way for creators to safeguard their work in an increasingly AI-driven
00:41world.
00:42For all things money, visit Benzinga.com.