IP Rallies 15% as Story Protocol Abandons Broad Vision for AI Data

Story Protocol has rebranded as the DATA Foundation, shifting its blockchain toward verified data for training artificial intelligence (AI). The project’s token, which trades as IP rose almost 15 on the news.

The change renames Story Network as DATA Network and converts IP into a new token, DATA, through a one-to-one migration. The foundation said demand for AI training data outpaced its earlier bets on entertainment and gaming.

DATA Price Performance. Source: BeInCrypto

Why Story Protocol Shifted to Data

The foundation announced the change after concluding that companies behind valuable music, games, and brands guarded their rights and resisted open licensing.

That resistance clashed with Story’s original goal of making all intellectual property programmable. The project had already tokenized music rights from major artists, but most owners stayed cautious.

By contrast, an incubated data project called Poseidon signaled stronger demand. It raised a $15 million seed led by a16z. The same firm backed Story’s roughly $134 million across three funding rounds.

“Labs have effectively run out of internet to scrape,” Andrea Muttoni, the DATA Foundation’s CEO, explained.

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Muttoni, previously the company’s president, had explored how AI reshapes IP before the rebrand. IP launched in February 2025 and peaked at $14.78 that September, but now trades about 98% lower.

What the Shift Means for Holders

Story Network becomes DATA Network, and the migration requires no immediate action from holders. The foundation said integrations and validators continue without interruption.

The reshuffle follows other recent leadership changes at the project.

The rebrand also brings a partnership with Kled, billed as the largest opt-in human data marketplace. The foundation said Kled adds more than 1.5 billion images, videos, and files to the network. Its founder Avi Patel joins as chief data officer.

Two tools anchor the network, an audit platform called Trace and the Poseidon processing layer. Together they aim to prove where data came from and confirm its quality for buyers.

Meanwhile, Story’s IP token traded near $0.34, a market value of about $121 million on $95 million in daily volume.

Confidential Data Rails are due on mainnet in the third quarter. Whether major AI labs adopt the network will determine if the data pivot can outlast the decline that preceded it.

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