Story partners with the American listed company Heritage Distilling to launch a $360 million $IP token reserve strategy, supported by top venture capital firms such as a16z crypto.

CN
5 hours ago

Heritage CEO stated: "This transaction is a breakthrough for Heritage and the entire listed company's digital asset strategy."

AI native infrastructure, programmable IP blockchain Story announced the launch of a $360 million $IP token digital asset reserve plan in collaboration with Nasdaq-listed Heritage Distilling Holding Company, Inc. (Nasdaq: CASK). This transaction is supported by the Story Foundation and several top investment institutions including a16z crypto, Amber Group, Arrington Capital, dao5, and Hashed.

The market believes this transaction is highly similar to the case of BitMine (Nasdaq: BMNR), which saw its stock price surge 30 times within days after announcing its Ethereum digital asset reserve (DAT) strategy. Notably, this is a16z's first involvement in a listed company's digital asset strategic allocation, and it represents the lowest market capitalization among Nasdaq-listed companies to introduce a digital asset strategy reserve, indicating significant potential value in the future.

To support the token reserve plan, Heritage will invest $82 million to purchase tokens from the Story Foundation, which will fully repurchase $IP in the secondary market within 90 days.

$IP is Story's native token, allowing users to register intellectual property on-chain and flexibly set usage terms through smart contracts, facilitating convenient transactions and monetization of IP between humans and AI agents. The Story ecosystem has already driven the tokenization of hundreds of thousands of digital assets through applications like Aria and Ablo, and has collaborated with globally renowned artists such as Justin Bieber, BTS, BLACKPINK, Adidas, and Crocs to continuously expand the application boundaries of IP.

In 2024, Story will partner with Stability AI to introduce transparent licensing and compensation tracking to support open-source AI model training; in the third quarter of 2025, Grayscale Investments will launch the Story Trust, providing regulated investment channels for institutional investors in $IP; the Poseidon incubation project launched in July will further expand the decentralized training data field, supporting AI scenarios such as robotics, AR/VR, and autonomous systems, and has already secured $15 million in seed funding led by a16z.

PIP Labs CEO and Story founder Seung Yoon Lee stated: "This is a golden moment for innovation in the tokenization of crypto, AI, and real assets. With the proliferation of AI, we believe $IP will become the new 'digital gold' with immense value potential. The Story Foundation will use all proceeds from this token sale to expand network scale and market repurchase, ensuring long-term consistency of the ecosystem." The launch of this reserve plan is also a disruptive innovation following S.Y. Lee's successful sale of the U.S. web novel platform Radish to Kakao for 500 billion Korean won.

Heritage CEO Justin Stiefel pointed out: "This transaction is a breakthrough for Heritage and the entire listed company's digital asset strategy. For over a decade, we have been industry pioneers, fully aware of the unique value of intellectual property, and view $IP as a new strategic reserve asset leading growth in the future AI era."

This strategic transaction is also supported by several senior experts in the crypto and technology fields, who will continue to provide professional guidance for Heritage's strategic development. The core team includes:

  • SY Lee (Founder and CEO of PIP Labs, Founder of Story)
  • Phil Blows (Co-founder of AQRU and B2 Capital Management, Chief Investment Officer candidate)
  • Ben Sternberg (CFO of PIP Labs, former CFO of Radish, Founder of Fexy Media)
  • David Lee (Former Google executive, former Chief Corporate Development Officer of 451 Media)
  • Erick Zhang (Founding Partner of Nomad Capital, former Head of Research at Binance and CEO of CoinMarketCap)
  • Ravi Kaza (CIO of Arrington Capital, Special Advisor to the Board)

Matt Shaw, Director of the Story Foundation, stated: "The mission of Story is to make intellectual property an investable and programmable asset, and this reserve plan reflects our ability to scale. Through this structure, public market investors can easily invest in $IP through equity investments without managing digital wallets. The Story Foundation plans to use 100% of the net cash proceeds from this transaction for public market repurchases, demonstrating responsible governance and deep collaboration, while bringing a leading advantage in the digital asset field to Heritage."

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