Futureverse, a AI and metaverse technology company, has signed a memorandum of understanding to do an intellectual property deal with Web3 firm PIP Labs, the core contributor to Story.This strategic partnership will focus on integrating Futureverse’s technology and extensive IP portfolio along with The Root Network to Story. Story, is a purpose-built Layer 1 blockchain designed to tokenize intellectual property into programmable digital assets, pioneering new ways for creators and brands to register, manage, and commercialize digital assets on-chain.The Root Network is purpose-built to deliver on the promise of interoperability for IP assets wherever they are created, enhancing the value of owners and collectors.Intellectual property has traditionally been managed through fragmented, centralized systems that limit the ability of IP holders and creators to fully control, license, and monetize their work. As digital content continues to expand, ensuring that IP ownership remains transparent, enforceable, and interoperable across multiple platforms is increasingly important. This partnership addresses these challenges by leveraging blockchain technology to create a decentralized, programmable framework for IP, fostering a more open and creator-centric digital economy.Through this collaboration, Futureverse and PIP Labs, Story’s initial core contributor, will work together to onboard, grow, and monetize Futureverse’s extensive IP portfolio within Story’s blockchain ecosystem. Futureverse, through Readyverse Studios, holds exclusive licenses for blockbuster IPs such as Ready Player One/Two. The partnership will also explore the integration of Story-powered applications into Futureverse’s The Readyverse platform, enhancing interoperability across metaverse experiences, games, and applications

PIP Labs has secured $80 million in a Series B funding round co-led by 16z Crypto and Polychain Capital to support Story Protocol, a layer-1 blockchain intellectual property tokenization.