Real World Assets (RWA), Artificial Intelligence (AI), and Intellectual Property (IP) are gradually becoming the three most imaginative main lines in the Web3 world.
RWA has sparked a wave of enthusiasm in 2023 and has now entered a more refined stage of asset classification; AI is set to fully explode in 2024, bringing historic market value leaps for Nvidia; and what was once considered a "niche track," IP, has been redefined as the "energy engine" of Web3 due to the rapid development of AI—serving as both the source of content and potentially the core structure of data assets. Grayscale has already listed the tokenization of IP as a key focus in its Q2 2025 report.
What would happen if these three paths were interconnected?
As a Layer 1 dedicated to building an open, programmable IP market, Story is attempting to provide an answer.
Recently, the Story ecosystem has been active, with projects like MUSIC, Aria, and Emergence exploring multidimensional avenues: from AI generation to on-chain rights confirmation, from music IP RWA tokenization to decentralized co-construction of franchise assets, a new world of IP creation, rights confirmation, splitting, profit-sharing, and inheritance is taking shape.
MUSIC: AI + Trending Posts = Tradable On-Chain Music Assets
Against the backdrop of the AIGC explosion, the issues of rights confirmation, ownership, and revenue distribution for AI-generated content have become increasingly prominent, especially in the field of music creation. Traditional music revenue paths rely on platform distribution, which is slow in payment and lacks transparency, leading to the common dilemma for creators of "having avenues for creation but no way to monetize."
To address this pain point, Story announced its partnership as the infrastructure collaborator for the AI-driven entertainment platform MUSIC (a Virtuals ecosystem project), supporting the launch of its Bangers feature: users simply need to mention @musicbyvirtuals in trending Twitter posts along with a prompt, and AI will automatically generate music or MV, which can then be registered, confirmed, and tokenized on-chain through Story, transforming it into tradable music IP assets.
Each IP corresponds to a token with asset attributes, built-in with a 1% transaction tax to incentivize original creators, secondary creators, and distributors; additionally, creators can earn revenue through licensing fees and derivative profit-sharing. Story's full-chain support enables MUSIC to achieve a conversion path from social media trending posts directly to on-chain assets for the first time, granting content immediate rights confirmation and monetization capabilities.
On May 28, MUSIC officially launched the tokenized asset $DRIP for the music IP "Drip Drip," a collaboration between top DJ R3HAB and WUKONG, and initiated a 20% airdrop, completing snapshots for Banger trading users, $MUSIC holders, and active Story addresses.
Currently, $MUSIC supports one-click cross-chain from Base to Story, with the platform using Story's native token $IP as gas. MUSIC has also partnered with Sony & Tencent's joint venture label Liquid State, integrating over 1,000 AI agents to promote large-scale generation and distribution of community-driven music IP.
Aria: Targeting Music IP On-Chain, Connecting the Long Tail of RWA
On-chain RWA (Real World Assets) continues to grow. According to data from rwa.xyz, as of the time of writing, the total market value of on-chain RWA has surpassed $23 billion, with a monthly increase of 6.4%. Although it is still primarily composed of U.S. Treasury bonds, private credit, and commodities, franchise-type assets and other non-standard assets are becoming new focal points.
In recent years, music assets have gradually gained favor among institutions due to their stable cash flow, significant long-tail value, and high returns, with Wall Street capital accelerating its layout: in 2021, Blackstone invested $1 billion in Hipgnosis to acquire music copyrights; the same year, KKR acquired Kobalt's music royalty portfolio for $1.1 billion; in 2024, Apollo provided $850 million to Concord to support its third issuance of music asset ABS.
Aria is the core protocol in the Story ecosystem focused on non-standard RWA, concentrating on music assets, and aims to assetize song copyrights, performance rights, and future royalty revenues, providing users with an entry point to participate in high-potential content IP.
According to the International Federation of the Phonographic Industry (IFPI) 2025 report, the global music industry’s annual revenue is approaching $30 billion, with performance rights revenue doubling since 2010, becoming an important source of stable cash flow. Aria is also aligning with this trend by converting music IP into composable and tradable on-chain financial assets.
Currently, Aria's asset library includes works from top artists such as Madonna, Justin Bieber, Katy Perry, Selena Gomez, Maroon 5, BLACKPINK, BTS, and Aespa, most of which have surpassed the royalty revenue decline period, with an average asset age of over 4 years, stable returns, and low volatility; it also includes some new works from 2024 with growth potential.
Aria integrates copyright, performance rights, and royalty revenues through a portfolio model, constructing standardized asset packages that support users in participating in early issuances with stablecoins. This path of music IP assetization effectively addresses the pain points of traditional music assets, which suffer from poor liquidity, opaque revenues, and low IP utilization:
SPV Structure: Encapsulates music copyrights within on-chain compliant entities, supporting partial tokenization for monetization, avoiding forced full sales by institutions;
Real-Time Royalty Distribution: Through smart contracts, royalty revenues can be automatically allocated to relevant parties, eliminating traditional distribution delays and intermediary losses;
Programmable IP Licensing: Allows for secondary creation and flexible commercial use, unlocking long-tail value (e.g., remixes, film scores, etc.).
In the future, Aria will achieve liquidity, staking, and lending through the RWIP token. The current portfolio is expected to yield an annualized return of 8–9%, projected to revert to a long-term average of 4–5% within three to five years.
Based on the Story protocol, Aria achieves transparent asset management from off-chain to on-chain, injecting a content-driven new path into the Web3 RWA market and revitalizing music IP with new financial vitality.
Additionally, Aria launched a points system in early May to provide exclusive incentives for OG users and opened the $IP airdrop claim on May 22. Users participating in the Aria Premiere Launch will receive the IPRWA token $APL starting June 25.
Emergence: AI + Blockchain, Reshaping the Logic of Franchise IP Production
In the traditional entertainment industry, IP is typically dominated by centralized teams, making it difficult for contributors to receive ongoing returns. The sci-fi project Emergence within the Story ecosystem is attempting to break this model.
Launched jointly by Incention and Story, Emergence is an open, decentralized "narrative sandbox," led by legendary screenwriter David S. Goyer (known for works such as "The Dark Knight Trilogy," "Blade," "Terminator," and "Foundation"), supporting audiences, creators, developers, and even introducing the AI agent A.T.L.A.S. to participate in world-building.
Its content rights confirmation, authorization, and profit-sharing mechanisms are entirely built on Story: users leave verifiable "creative traces" on-chain, and the system automatically allocates revenue based on content usage, ensuring that contributions receive sustainable returns. A.T.L.A.S. plays the role of "screenwriter partner," generating text and plots, organizing interactions, integrating clues, and dynamically expanding settings, becoming an important part of world-building.
At the beginning of this month, Emergence officially launched the Codex mission, encouraging users to create content such as characters, artifacts, myths, and locations. As of the time of writing, users have generated over 30,000 entries for characters, settings, and worldviews. These user creations will be formally incorporated into the Emergence universe after community voting and Goyer's review, with corresponding creators receiving ongoing rewards as the sci-fi universe ecosystem gradually unfolds.
As a decentralized "laboratory" that integrates AI collaboration with IP market mechanisms, it provides a new "multi-agent collaboration" paradigm for the development of Web3 native IP.
The Composable Future of AI + RWA + IP
In MUSIC, trending posts become assets; in Aria, songs turn into bonds; and in Emergence, AI and humans co-create content civilization. Supporting all of this is the "programmable IP" infrastructure provided by Story—the underlying bridge connecting AI, RWA, and IP.
Currently, Story is hosting its first annual global online Buildathon—"Surreal World Assets," focusing on the innovative direction of IP × AI × RWA, supported by leading crypto VCs such as Pantera Capital, OKX Ventures, and Polychain. This event is open to both developers and non-technical participants, with winning projects having the opportunity to present to investors and access ecosystem resources, with a total prize pool of $55,000.
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