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The brand new blockchain-based IP possession community Story Protocol closed a $54 million funding spherical on Sept. 7, which included investments from massive names like Paris Hilton’s 11:11 Media, and Andreessen Horowitz, also referred to as a16z.
The platform makes use of blockchain know-how to assist content material creators oversee and monetize their content material within the face of fakes generated by synthetic intelligence (AI). It plans to function a blockchain-based IP possession repository for every type of content material together with textual content, picture and audio.
If artists ultimately register with the protocol they’ll use linked companies to promote the licensing rights for numerous different makes use of.
The opposite co-founder of the mission Seung-Yoon Lee estimated that in “in a yr or two the extent of remixed content material by GenAI goes to be a lot larger.”
“In a world of whole abundance catalyzed by generative AI, blockchain know-how presents the proper resolution for clear provenance monitoring and honest attribution.”
The spherical was led by Andreessen Horowitz, who additionally obtained fairness within the firm and the best to purchase digital tokens if issued by Story Protocol, in line with a spokesperson from the corporate.
Story Protocol additionally obtained backing from Hashed, Endeavor, David Bonderman – the founding father of TPG Capital- and Samsung Subsequent.
The corporate’s co-founder Jashon Zhao stated the funds will go in the direction of the launch within the first half of 2024.
Associated: YouTube releases ‘ideas’ for working with music trade on AI tech
The battle towards deep fakes and copyright-infringing content material by the hands of generative AI has been of main concern for the leisure trade.
Common Music Group (UMG) has been campaigning for streaming platforms resembling Spotify to be vigilant about eradicating content material that misuses copyrighted work.
Shortly after UMG’s e-mail was dispersed, Spotify introduced it will be growing its policing throughout the platform and actively started to take away content material in violation of copyright guidelines.
Most not too long ago, it was revealed that UMG and Google had been in negotiations over find out how to handle deep fakes, together with find out how to finest license melodies and vocal tracks that can be utilized in AI-generated songs.
Journal: BitCulture: Nice artwork on Solana, AI music, podcast + guide opinions
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