Story, an IP-focused protocol developed by PIP Labs and backed by a16z Crypto and Polychain Capital, has rebranded as The DATA Foundation (DATA) as the company pivots toward AI training data infrastructure, according to a Thursday statement.
The team said Story’s existing $IP token will be converted into the new $DATA token at a one-to-one ratio without requiring action from holders.
Story also unveiled Trace, an onchain registry for data provenance and licensing, and a major partnership with Kled, whose marketplace for user-consented data has added 1.5 billion records to the network.
As part of the transition, Andrea Muttoni will serve as chief executive of DATA, while Kled founder Avi Patel joins the project as adviser and chief data officer.
“The challenge in AI has shifted from compute and architecture to sourcing and provenance. As the scrapable web fractures, the question for labs now is who is keeping the receipts,” Muttoni commented. “With Kled, we combine full data transparency and auditability with the largest pool of AI training data on the planet.”
