The world's largest digital asset investment platform, Grayscale, today announced the establishment and launch of the Grayscale Story Trust, aimed at providing investors with exposure to the native token $IP of the Story network.

Story is a blockchain network designed for the era of artificial intelligence, with the core concept of incorporating real-world data into the realm of programmable intellectual property, enabling traceability, ownership verification, and tradability. The Story network is specifically designed to address the needs arising from the development of artificial intelligence, the rise of the creator economy, and digital rights management, striving to create a secure, scalable, and easily integrable intellectual property infrastructure. Through Story, intellectual property and real-world data in forms such as music, media, character images, videos, and voice can be tracked, enforced, and monetized on-chain.

The vision of Story is to assetize and chain real-world data, building the underlying architecture of a global intellectual property economy. According to relevant reports, the potential value of the global intellectual property market is as high as $80 trillion, and Story is a pioneer in promoting the comprehensive integration of intellectual property into the blockchain ecosystem against this backdrop.

The traditional intellectual property system has long suffered from severe fragmentation, reliance on intermediaries, and difficulties in adapting to the rapid development of digital content and artificial intelligence. The Story network seeks to break this old pattern by proposing a new solution. Its core lies in assetizing intellectual property through smart contract-driven non-fungible tokens (NFTs), embedding licensing mechanisms, signature rules, and royalty distribution logic within them. These mechanisms are built on existing intellectual property laws, aiming to enable creators, businesses, and even AI agents to register, recreate, and monetize their intellectual property in compliance with regulations.

Currently, Story is accelerating its application across multiple cultural and technological ecosystems, from top international artists and brands to the next generation of artificial intelligence platforms, with its ecosystem continuously expanding. As of now, the Story network has processed over 1.7 million intellectual property transactions, with more than 200,000 monthly active users, demonstrating a strong market demand for the "programmable intellectual property" infrastructure. The network's content includes works from artists such as Justin Bieber and BLACKPINK, commercial partners like Adidas and Crocs, and participation from AI institutions like Stability AI.

Story has also independently launched original projects such as "Poseidon," aimed at integrating real-world data into AI systems for cutting-edge technologies such as service robots, surgical assistance, and autonomous driving. These collaborations and projects fully demonstrate the broad applicability and far-reaching impact of the protocol.

"The Grayscale Story Trust provides investors with the opportunity to engage with the Story protocol, which is a key builder of the foundational layer of intellectual property in the information and artificial intelligence eras," said Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research. "This encompasses not only creative content but also real-world data resources—resources that drive today's most advanced intelligent systems."

SY Lee, CEO and co-founder of PIP Labs and an early core contributor to Story, also pointed out:

"The design intention of Story is to support the complete lifecycle of intellectual property—from music and media content to real-world data that supports intelligent systems. The establishment of the Grayscale Story Trust not only marks a key step for programmable intellectual property into the institutional market but also highlights the growing awareness that, in the era of artificial intelligence, intellectual property is becoming one of the most strategically significant core assets. By incorporating $IP into Grayscale's trust products, investors can now directly participate in this protocol layer that is building the future information infrastructure."

Disclaimer: The Story Foundation is an investor in the Grayscale Story Trust.

The Grayscale Story Trust is now officially open, and eligible accredited individual and institutional investors can subscribe on a daily basis. This trust product continues the basic structure of Grayscale's single-asset investment trusts, with its sole investment target being the native token $IP of the Story protocol. For information on the initial funding sources of this trust and any potential differences in its investment structure compared to other Grayscale single-asset trust products, please refer to the relevant Private Placement Memorandum.

This press release does not constitute an offer to sell or solicit the purchase of securities in any jurisdiction, nor does it constitute the basis for any securities transactions prior to the completion of registration or compliance under applicable laws. Any such actions may be considered illegal under the relevant jurisdictions.

Regarding the definition of "accredited investors": According to Section 501(a) of Regulation D of the Securities Act of 1933, accredited investors include but are not limited to the following situations:

Individuals with an annual income exceeding $200,000 for the last two years (or $300,000 together with a spouse);

Net worth exceeding $1 million (excluding primary residence);

Holding specific financial qualifications (such as Series 7, 65, or 82);

Institutions with total assets exceeding $5 million, or all equity owners being accredited investors.

Grayscale may attempt to obtain trading approval for new products in the secondary market, but there is no guarantee of success. Although some products have been approved for trading on over-the-counter markets (OTC Markets), this does not mean that all new products will receive the same approval. Relevant regulatory agencies (such as the SEC and FINRA) may question the product structure, which could affect the listing process. Therefore, investors should be adequately prepared to potentially hold the relevant trust shares for the long term and bear the associated liquidity risks.

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