Feb 18, 2023

StoryCo: Unlocking Accessibility to Create IP with Soulbound Tokens

This week’s edition of NFT Steez sees co-hosts Alyssa Expósito and Ray Salmond in conversation with Justin and J.P. Alanis, co-founders of StoryCo, an open media platform that enables a community of creators to franchise intellectual property (IP) through collaboration and soulbound tokens.

J.P. Alanis discussed the importance of content creation being open to all types of creators, including fans, and how StoryCo seeks to incentivize creators and navigate the bureaucratic nature of centralized institutions.

Justin explained that StoryCo is an open, permissionless platform that allows anyone to explore, create, and potentially franchise IP with a story or piece of content they “vibe” with. He went on to say that value is created through user-generated content contribution, story or funding proposals, completing an activation, or even viewing a story.

The StoryPass is a free NFT that gives StoryCo insights on the community’s “nucleus”, according to J.P. Alanis. It also allows users to unlock achievements with their StoryPass, whether via consuming or contributing, and their StoryPass is altered to reflect that.

Soulbound tokens, which are “non-transferable nonfungible tokens”, are used to authenticate and verify someone’s identity, actions or achievements in Web3. StoryCo intends to integrate soulbound tokens to widen the accessibility to collaborate and begin creating IP.

The Disco Ball is the first community story to be released by StoryCo and fifty percent of its net proceeds will be allocated to a shared treasury whereby the community will begin to propose and vote on the platform’s evolution, similar to the Nouns DAO Proposal House.

StoryCo has the potential to revolutionize the way digital creation is approached, by allowing anyone to contribute value in different ways and unlocking the ability for people to be part of a creative marketplace. To hear more on this topic, tune in to Part 2 of NFT Steez’s conversation with StoryCo’s founders on the new Cointelegraph Podcasts page or Spotify, Apple Podcasts, Google Podcasts, or TuneIn.

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