Korean Wave + AI Agent, will Story’s new approach be successful?

@StoryProtocol, which was once heavily invested by a16z, has also performed exceptionally well since the TGE, with its FDV reaching $7 billion against the trend, and has even been dubbed the "web3 Hollywood". But many people have never thought about what variables this Korean wave combined with AI Agent will bring to the Crypto ecosystem? Here are my personal observations:

1) Obviously, Story’s TGE was launched under pressure amidst a chorus of pessimism. However, surprisingly, after its launch, it did not continue the VC coin’s doomed market trend that was infinitely close to zero. Instead, it became the “king of pulling up” of this round of VC new coins for the first time, and was therefore hailed as the “web3 Hollywood”.

2) The pull-up is just an appearance. In my opinion, Story chose to go against the trend and performed well after going online, all thanks to its finding the core narrative of "AI Agent". Because Story was originally designed as a layer1 public chain designed for intellectual property (IP), with the goal of moving the management and transaction of intellectual property to the chain to promote the prosperity of web3 in vertical industries such as culture and art.

In order to promote the AI Agent narrative, at the end of 2024, Story launched a set of AI Agent transaction frameworks (ATCP/IP), which enabled AI agents to autonomously exchange intellectual property assets, including AI Agent identity ID, artwork creation incentive and traceability verification network, AI autonomous investment decision-making legal personality and IP license framework, etc.

In short, relying on the framework and standards defined by Story in terms of IP, combined with the application of AI Agent and the focus on narrative, Story naturally took over the gap in the narrative of NFT digital artworks. With the new on-chain IP backend framework standard + AI Agent front-end practical application, Story continues to realize its on-chain Renaissance dream.

Imagine that when AI Agent has legal personality, it can be packaged through off-chain laws and executed through on-chain contracts, including "information request, clause formulation, negotiation, acceptance, information transmission, confirmation of receipt and other steps. At the same time, AI Agent can freely price and trade its trained and fine-tuned data, algorithms and models. Artists can use AI Agent to create more efficiently and form a decentralized intellectual property market that can share profits with other AI Agents.

3) In fact, since the launch of Story mainnet, some new features have indeed emerged in the areas of AI Agent and IPFi:

1. @SoloAI_Agent, as the leading AI Agent project in the Story ecosystem, focuses on enabling music works created by AI Agents to be converted into on-chain assets for free circulation within the ecosystem. Compared with the current situation where most AI Agents in the Solana ecosystem are too MEME-like, Solo has grasped the vertical direction of AI music creation as soon as it appeared, focusing on exploring the possibility of practical implementation of AI Agents, which is similar to the exploration of AI multimodality by web2 projects such as HeyGen. Currently, the token $Sona has been launched, but it has not been over-Fomoed;

2. @verio_story is Story Protocol’s IP trust engine, which aims to provide a financial and legal governance system for Story’s newly proposed IP system. It adopted a dual pledge model when it went online, and designed a set of verification and governance mechanisms to help creators and investors ensure the authenticity and value of IP assets;

3. @PiperxProtocol / @0xStoryHunt, similar to the core axis of the Solana ecosystem, Radium and Jupiter, are both ecologically leading decentralized exchanges, allowing the operation of on-chain yield systems such as MEME transactions, DeFi liquidity mining, and IPFI income. If the Story ecosystem takes off in the future, the value of its core DEX niche will naturally emerge accordingly;

4. @Aria_Protocol, a Story-based IP RWA protocol, focuses on tokenizing top IP resources, and ultimately enables musicians and artists to create IP-based on-chain assets, so that songs, books, movies, artworks, patents, brands, AI training data, AI Prompt, etc. can be tokenized, circulated online, and traded.

Recently, Aria announced that it had acquired some copyrights of the debut song "Black Mamba" by the Korean girl group Aespa and the single "The Truth Untold" by the world's top boy group BTS and Steve Aoki, and tokenized them. Other songs include works by top global artists such as BLACKPINK, Justin Bieber, Miley Cyrus, Dua Lipa, Katy Perry, BIGBANG, etc., which truly contributed to the value of "Korean Wave is Coming" on Story;

In addition, Story's ecosystem has expanded rapidly since its launch, and there are projects in various categories, including WTF, Mimboku NFT, ipWorld, Spotlight, Unleash, Lewis, etc. There are undoubtedly some flaws, but fortunately, the siphoning potential of its ecosystem has initially emerged.

In fact, the enthusiasm for Story is also becoming popular among young people in South Korea. Many people regard Story as an opportunity to change their destiny. There is even an exaggerated statement that "without Story, you can't afford a house."

This is actually Story's plan for community building. With the help of Korea's mature star fan economy system and the digital craze of everyone speculating in cryptocurrencies, it attempts to deeply integrate project ecological construction with Korean culture, which can not only bring in incremental users, but also give birth to innovative web3 cultural product forms. By then, it is probably only a matter of time to complete the listing puzzle of Upbit and other exchanges.

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Back to the beginning, why is it said that the combination of "Korean Wave + AI Agent" will be a new variable under the AI Agent trend? In fact, the crux lies in whether AI Agent can be put into practical application.

Judging from the current Story ecosystem distribution projects and development potential, there is a trend of bringing new "Utility" to AI Agents, especially from the performance of projects such as SoloAI and Aria. However, whether Story can ultimately challenge the Solana ecosystem in the direction of AI Agents still needs more time to ferment.