Why IP token is up today (July 31)?
On the last day of July, the IP token of the Layer-1 blockchain Story Network jumped 12% after one of the world's leading digital asset managers, Grayscale Investments, announced the launch of Grayscale Story Trust.
The new crypto investment product enables accredited investors to invest in the native IP tokens of the Story Network.
“Grayscale Story Trust provides investors with access to a protocol forming the foundational layer of intellectual property (IP) in the age of information and artificial intelligence,” said Reyhaneh Sharif-Askary, Head of Product & Research at Grayscale.
Currently, the intellectual property economy exceeds $80 trillion, and Grayscale believes, alongside the developers of Story Network, that this project is positioned to play a pivotal role in the global IP economy.
The transformational role of Story Network
Through the IP token, investors can register and verify IP data, share royalties with other owners, participate in Story governance, gain commercial rights, and perform other operations.
Following the announcement of the new Grayscale product, the price of IP surged to $6.55 before stabilizing at $6.35, with a daily gain of around 7%.
IP price dynamics for 24 hours. Source: CoinMarketCap
Amid bullish sentiment and growing altcoin momentum, the Story token broke a five-month high and may approach its all-time high (ATH) of $7.33 reached in late February 2025.
As we wrote, Why FLOKI is up today (July 8)?
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