Story, the layer 1 blockchain built to put intellectual property onchain, rebranded as DATA Foundation on Thursday and refocused the project on supplying AI training data, the company said in a blog post and press release. The project is migrating its $IP token to a new token, $DATA, on a one-to-one basis.

The foundation also announced that Story's native IP token will migrate to the new DATA token on a one-to-one basis.

Story Protocol rebrands as DATA Foundation, launching Trace, an onchain AI training data registry with 1.5B records via Kled and a 1:1 IP token migration.