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  • Writer's pictureJamal Saafir

Paris Hilton and a16z In $54 Million Fight Against Artificial Intelligence

Updated: Sep 25, 2023

As reported by BeInCrypto, Story Protocol, a San Francisco-based tech firm, has received $54 million in funding to battle copyright infringement augmented by generative AI technology.

Andreessen Horowitz heads the investment round, with noteworthy supporters like Hashed, Samsung Next, Endeavor, and David Bonderman of TPG Capital and the celebrity involvement of Paris Hilton’s media venture 11:11 participating in the funding as well.

Undeterred by a decline in investor sentiment in the crypto space, Story Protocol’s fundraising signals a change in sentiment towards artificial intelligence.

With the ascension of platforms like OpenAI’s ChatGPT, the digital world has observed a rise in remixes and mashups, fueling copyright litigation.

In a recent press release, the U.S. Copyright Office states:

“These issues include the use of copyrighted works to train AI models, the appropriate levels of transparency and disclosure with respect to the use of copyrighted works, the legal status of AI-generated outputs, and the appropriate treatment of AI-generated outputs that mimic personal attributes of human artists.”

Acknowledging this, venture capitalists progressively redirect their thoughts and capital to AI-focused initiatives.

Story Protocol’s co-founder Jason Zhao confirmed that the recently injected funds will speed up the launch of its blockchain-based technology scheduled for next year. Andreessen Horowitz received equity and an option to buy digital tokens, should the company decide to issue them. Nevertheless, Zhao clarified that, at present, there are no conclusive plans to do so.

Story Protocol’s new blockchain technology aims to be a diverse content intellectual property storehouse. An author can register their novel on Story Protocol, then sell rights for translations, spin-offs, or adaptations.

Co-founder Seung-Yoon Lee, formerly the brains behind mobile serial fiction platform Radish, referenced the example of a viral song that used AI-generated voices of Drake and the Weeknd. The song was removed by Universal Music Group, illustrating the increasing agitation between creative freedom and copyright laws.

“You can’t go and cease and desist everything,” Lee emphasized.

Not only moved to create a digital citadel for existing intellectual property, Story Protocol sees a larger role for itself. It seeks to serve as an infrastructure layer that brings about a new era of open and collaborative intellectual property.

“Just as Git revolutionized software development, Story Protocol is transforming the development of creative IP,” said Simon Kim, CEO and Managing Partner at Hashed.

Story Protocol promotes third-party developers to build services such as crowdfunding and IP licensing through its open structure.

This sizable investment round also received participation from global entities such as Si-hyuk Bang, founder and chairman of HYBE/BTS, and CH Kim, CEO of Krafton/PUBG. Along with them, David S. Goyer, best recognized for his screenwriting in the “Blade” and “The Dark Knight” trilogies, has gotten involved as an advisor.

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