Market Metrics

Total Crypto Market Cap: down 0.4% to $2.544T
Total AI Sector Market Cap: down 2.1% to $32.7B

Top Movers (24 hours):

📈 DeepFakeAI (FAKEAI): up 15.9% to $0.007776
📈 Image Generation AI (IMGNAI): up 14.2% to $0.02024
📈 NetMind Token (NMT): up 11.2% to $8.77

Weekend News

🟠 BlackRock is discussing potential investments with governments to support the infrastructure needed for artificial intelligence, including increasing power supply, according to the company's CEO.

🟠 Virtuals Protocol has integrated OpenLM's models, allowing users to build AI agents for onchain use while generating fees for OLM token holders.

🟠 Dither AI founder @0xMattness announced significant progress in Dither’s dataset expansion, model training, partnerships, and backend development for their AI-based price forecasting and trading tools.

Sound Bites 🎧

In this week's edition of Sound Bites, we listened to a podcast featuring Jason Zhao, the co-founder of Story Protocol. The podcast covered the project's mission to create a programmable IP layer that can keep pace with the rapid advancements in AI and the creative landscape. Here were our key takeaways 👇

Key Takeaways

• Story Protocol introduces the concept of Programmable IP to manage the complexities of AI-generated content, aiming to make the legal system for creative IP more efficient and accessible.

• In the context of AI, the spread of ideas and creations has accelerated rapidly. AI platforms, like generative models, can produce a tremendous volume of content inspired by existing works.

• The current copyright system, built around human creation and direct copying, struggles to accommodate the unique challenges posed by AI-generated content, leading to a growing demand for a new IP regime.

• Jason talked about how generative AI challenges current copyright laws. AI can generate new, original content that is not a direct copy, leading to grey areas around IP rights. For example, if an AI generates a poem using widespread styles and phrases, who holds the copyright?

• Story Protocol allows creators to register their IP as "IP Assets" on the blockchain, which consists of an on-chain NFT and its associated IP Account, enabling people or programs to license, remix, and monetize IP according to transparent terms set by creators.

• The protocol uses "modules" such as licensing, royalty, and dispute resolution to interact with IP Assets, ensuring that creators receive their rightful share of any revenue generated and providing a framework for resolving disputes.

• By tokenizing IP rights, Story Protocol aims to create an "idea economy" where ideas become tradable assets that can be combined and monetized on decentralized finance platforms, opening up new revenue streams for creators and inventors in an AI-driven creative landscape.

• The protocol encourages a shift from a single-player to a multiplayer model of IP ownership, promoting collaboration and expansion by various players, including AI, to contribute to the development and transformation of IP.

• Story Protocol recognizes the need to strike a balance between incentivizing innovation and maintaining open access, allowing creators to set their own openness level with regards to their IP.

Bonus info:

Story Protocol closed a $54 million series A led by a16z, with other notable investors such as Endeavor, Samsung Next, Balaji Srinivasan (former Coinbase CTO) and Charlie Songhurst (former Head of Strategy of Microsoft). The protocol also has a number of partners, notably myShell, Ritual and Lens Protocol.

Meme of the Day

We laughed way too hard at this…

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