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What is IP?

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About IP

IP is the native crypto of Story Protocol, a blockchain infrastructure designed to manage and monetize intellectual property (IP) on-chain. Story Protocol enables creators to register their work—such as stories, art, music, or even memes—as programmable IP, allowing for transparent licensing, remixing, and revenue sharing across the internet.

Instead of relying on traditional legal systems to enforce rights, Story Protocol embeds rules and attribution directly into code. This makes it possible for creators to track the evolution of their content, enable community collaboration, and earn royalties as their IP expands.

 

Key Points of Story Protocol

  • Programmable IP: Register creative works on-chain with licensing rules embedded in smart contracts.

  • IP Graph: Tracks relationships between original content and all its derivatives.

  • Asset’s Utility: IP is used to pay protocol fees, stake, participate in governance, and reward creators.

  • Built for Builders: Open infrastructure for developers, platforms, and creators to build IP-native applications.

FAQ

1. What is IP used for?

IP serves multiple purposes within the Story Protocol ecosystem:

  • Registering IP: Used to mint and license creative workscontent.

  • Paying Protocol Fees: Required to use core services.

  • Staking: Used byFor validators and governance participants.

  • Incentives: Rewards for creators and contributors.

2. How does Story Protocol work?

Story Protocol turns creative works into modular, on-chain assets:

  • Creators register content and define how it can be reused.

  • Derivative works are linked to the original via the IP Graph.

  • Licensing terms and royalties are enforced through smart contracts.

  • Community governance helps shape the protocol’s evolution.

Example:


Diego publishes a digital comic via Story Protocol and allows others to remix it under specific conditions. One creator adapts it into a short film, which becomes popular and spawns NFTs. Each new creation generates royalties back to Diego, with everything transparently tracked on-chain.

3. How can I buy IP on Bitso?

To get started:

  • Log in to your Bitso account

  • Go to “Buy/Sell” and select USDC as your base currency

  • Choose IP as the crypto you want to purchase

  • Enter the amount, review the details, and confirm your transaction

Important: IP is currently available only for conversions on the Bitso app. 

This means:

  • External deposits and withdrawals are not enabled at the moment.

  • IP will not be available for trading on Bitso Alpha.

  • You can still send and receive IP via Bitso Transfer between Bitso users.

Disclaimer

This Help Center article is for informational purposes only and does not constitute financial advice. IP is the native crypto of Story Protocol, a Layer 1 blockchain designed to manage intellectual property through smart contracts. Its value is speculative and may fluctuate depending on network usage, ecosystem adoption, and market trends.
Always conduct your own research (DYOR) before trading any digital asset. Bitso encourages users to invest responsibly and stay informed.

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