Co-founders of StoryCo discuss how blockchain technology can evolve the way IP is franchised

Co-founders of StoryCo discuss how blockchain technology can evolve the way IP is franchised

What captivates many creators in the realm of blockchain and Web3 is the possibility to create, own and earn without intermediaries, and nonfungible tokens (NFTs) have emerged as a catalyst in how it could be possible. 

On this week’s episode of NFT Steez, co-hosts Alyssa Expósito and Ray Salmond chat with Justin and J.P. Alanis, the co-founders of StoryCo — an open media platform — on the prospect of creators co-creating and franchising intellectual property through their storytelling and the integration of soulbound tokens — but how?

Create-to-own and fandom trends emerging in Web3

As creators themselves, the Alanis brothers have a grasp on the challenges that impede many creators and organizations when it comes to talent, knowledge and resource sharing, compensation and collaboration.

When asked how create-to-own models are feasible and accessible, the brothers attributed much of StoryCo’s feasibility to blockchain technology because of its verifiability, accessibility and transparency, yet it has “abstracted a lot of the technology,“ said Justin.

In this way, it lessens the “weariness” that creators feel when first navigating Web3 and instead is seamless and “welcoming,” said J.P.

J.P. reiterated that more often than not, creators are challenged, having gone from a more siloed centralized work structure to one that is open and decentralized.

Related: Comic-Con guru says storytelling is the key component for successful NFT projects

“I think stories are their best when they start centralized,” commented J.P. when explaining how it’s easiest to build off of something and “have some momentum behind an idea” for it to carry any “traction.”

Storytelling platform as a public good

The struggle between needing major industry players within the Web3 ecosystem and having them be authentic is prevalent. Regarding the standards and processes StoryCo has implemented to “do it right,” as Salmond said, Justin commented on the evolving conversations and dialogue within the community and the business. 

However, Justin emphasized that StoryCo’s mission to “legitimize what they are doing with storytelling” is ultimately centered on the belief that the platform can be viewed as a “public good.”

Recognizing that there is a “tightrope walk” balance between the project and the platform, J.P. explained that the projects are a basis to facilitate attention and structure within an audience or community.