Paris Hilton, a16z back IP ownership network Story Protocol

The caller blockchain-based IP ownership web Story Protocol closed a $54-million backing circular connected Sept. 7, which included investments from large names, specified arsenic Paris Hilton’s 11:11 Media and Andreessen Horowitz, besides known arsenic a16z.

The level uses blockchain exertion to assistance contented creators oversee and monetize their contented successful the look of fakes generated by artificial quality (AI). It plans to service arsenic a blockchain-based IP ownership repository for each types of content, including text, representation and audio.

If artists yet registry with the protocol, they tin usage connected services to merchantability the licensing rights for assorted different uses.

The different co-founder of the project, Seung-yoon Lee, estimated that “in a twelvemonth oregon 2 the level of remixed contented done GenAI is going to beryllium truthful overmuch higher.”

“In a satellite of full abundance catalyzed by generative AI, blockchain exertion presents the cleanable solution for transparent provenance tracking and just attribution.”

The circular was led by Andreessen Horowitz, which besides received equity successful the institution and the close to bargain integer tokens if issued by Story Protocol, according to a spokesperson from the company.

Story Protocol besides received backing from Hashed, Endeavor, Samsung Next and David Bonderman, founder of TPG Capital.

The company’s co-founder, Jashon Zhao, said the funds volition spell toward the motorboat successful the archetypal fractional of 2024.

Related: YouTube releases ‘principles’ for moving with euphony manufacture connected AI tech

The conflict against heavy fakes and copyright-infringing contented astatine the hands of generative AI has been a large interest for the amusement industry.

Universal Music Group (UMG) has been campaigning for streaming platforms, specified arsenic Spotify, to beryllium vigilant astir removing contented that misuses copyrighted work.

Shortly aft UMG’s email was disseminated, Spotify announced it would beryllium increasing its policing crossed the level and actively began to region contented successful usurpation of copyright rules.

Most recently, it was revealed that UMG and Google were successful negotiations implicit however to negociate heavy fakes and however to champion licence melodies and vocal tracks that tin beryllium utilized successful AI-generated songs.

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