PIP Labs Partners with STR8FIRE to Tokenize Entertainment IPs

Palo Alto, CA — PIP Labs, the developer behind the blockchain-based intellectual property (IP) platform Story Protocol, has announced a strategic partnership with STR8FIRE, a project dedicated to tokenizing Hollywood-level entertainment IPs. This collaboration aims to merge fan engagement with blockchain technology, facilitating transparent and efficient tokenization and monetization of entertainment assets.

STR8FIRE enables fans and investors to own, trade, and profit from their favorite movies, comics, games, and more by tokenizing these assets on-chain.

Story Protocol supports this initiative by providing a blockchain platform that allows for the protection, sharing, and monetization of IPs in the AI era.

Through this partnership, STR8FIRE will integrate its IP monetization platform with Story Protocol, offering a transparent and equitable IP marketplace. By combining Story Protocol's IP tokenization framework with STR8FIRE's expertise in entertainment IP development and management, IP owners and investors can benefit from transparent ownership management and automated revenue distribution systems.

The collaboration is set to launch with a digital universe project featuring Ol' Dirty Bastard, a member of the legendary hip-hop group Wu-Tang Clan. STR8FIRE plans to continually add major IPs to the platform, allowing fans to directly own shares of content from their favorite artists and enabling investors to easily trade their IP holdings.

Jason Zhao, co-founder and Chief Product Officer at PIP Labs, stated, "Innovative projects like STR8FIRE integrating renowned IPs with blockchain through Story Protocol signal a significant digital transformation in the IP industry." He added that Story Protocol is creating a market that expands human knowledge and creativity, laying the foundation for a new type of knowledge economy encompassing AI and decentralized finance.

Chris Eisberg, CEO of STR8FIRE, commented, "Together with Story Protocol, we are creating an ecosystem where IP management and revenue distribution are automated and transparent." He emphasized that this collaboration offers new revenue opportunities for IP owners and provides fans with the chance to directly invest in their favorite IPs.

PIP Labs, established in Palo Alto, is the core developer of Story Protocol. The company has raised a total of $140 million in funding, with a recent $80 million Series B round led by a16z Crypto and Polychain Capital, bringing its valuation to $2.25 billion.

The team comprises industry veterans with backgrounds in consumer tech, generative AI, and Web3 infrastructure.