Story Protocol rebrands as $DATA Foundation and pivots to AI‑training infrastructure, announcing Avi Patel as chief data officer.
Rebranding and New Focus
The newly named $DATA Foundation will run the $DATA Network, an on‑chain registry that records the origin, licensing and consent history of datasets used to train artificial‑intelligence models. By moving from a broad intellectual‑property market to a specialized AI‑data niche, the firm aims to give investors a clearer view of data provenance.
Regulatory Pressure and Blockchain Solution
AI developers and large tech firms now confront a wave of copyright lawsuits demanding proof that training data was gathered lawfully. $DATA Foundation argues that blockchain technology can deliver an immutable, transparent ledger for ownership, licensing and consent, helping the crypto market address these compliance challenges.
Funding, Valuation and Future Plans
The rebrand follows Story Protocol’s accumulation of $140 million in venture capital, led by Andreessen Horowitz’s a16z crypto arm. Although Gate reports a $2.4 billion valuation, Patel declined to confirm the figure. The launch also features a direct integration with Kled AI’s opt‑in human data marketplace, extending the network’s reach and offering additional data sources for investors and developers.