Summary
- Story Protocol is transitioning from its original intellectual property network to a focus on AI training data.
- The newly named Data Network aims to establish itself as a leading source for AI training data, including its processing and verification.
- The existing IP token will migrate to a new format, trading as DATA on a 1:1 basis.
Originally intended to transform the intellectual property sector, Story Protocol has rebranded itself as Data Network as it shifts its focus towards artificial intelligence.
This change includes the introduction of Trace, a blockchain registry designed for AI training data, along with a partnership with Kled, a voluntary human data marketplace. Despite its previous focus on intellectual property, company executives emphasized that their efforts were still valuable.
“2025 wasn't wasted,” stated Andrea Muttoni, CEO of Data Foundation, in a post on X. “It provided us with many insights and lessons.”
Muttoni highlighted that the most significant insight stemmed from Poseidon, an AI data processing initiative that successfully raised $15 million from a16z.
Today, Story becomes The DATA Foundation. $IP is now $DATA. The Story Network is now DATA Network, tracking over 1 billion data records with a clear mission: to serve as the trust layer for all AI training data.
Welcome to The DATA Foundation. pic.twitter.com/u54K9kD1n5
— The DATA Foundation (@datafdn) June 25, 2026
“The conclusion was clear: the most pressing form of IP was AI training data,” he remarked. “Data labs have essentially run out of online resources to gather. What’s left is either costly and customized or fraught with legal risks and lacking documentation.”
The Data Network seeks to address this issue by offering a unified platform for data sourcing, processing, and verification.
“Currently, no company can effectively address all three of these needs,” he added. “That’s the market gap we have aimed to fill since the beginning, and it’s the challenge we are now fully committed to solving.”
As part of this transition, the Story Protocol token (IP) will now be known as the Data Network token (DATA). The migration will occur at a 1:1 ratio, requiring no action from current IP token holders.
After previously trading as high as $14.78, DATA is now priced at $0.349, reflecting a 14% increase in the last 24 hours. However, this price represents a nearly 98% decline from its peak last September. It has, however, recovered 25% from a recent low of $0.275 earlier this month.
“We’ve made our investment, and we’re fortunate to have outstanding launch partners to affirm our product's market fit and influence its development,” Muttoni remarked. “Now, our focus is on scaling and execution.”