IP Coin is the native token of the Story Protocol and can be purchased through well-known cryptocurrency exchanges such as OKX, Binance, HTX, and Gate. Typically, you need to register an account, complete verification, and deposit funds before purchasing IP Coin.
Definition and Importance of IP Coin#
IP Coin is the native token of the Story Protocol, officially launched on February 13, 2025. This protocol is a Layer 1 blockchain focused on intellectual property (IP), allowing creators to convert intellectual property such as artworks, music, and AI-generated content into programmable assets for easier licensing, adaptation, and monetization. IP Coin is used to pay transaction fees, participate in governance, and support network security (such as staking in the Proof of Stake model).
Surprisingly, its market capitalization has exceeded $1.1 billion, with significant trading volume reflecting strong market interest. This data indicates that IP Coin has notable activity and value in the cryptocurrency market, and it is remarkable that its market cap grew rapidly within just a few weeks, reflecting strong market interest in blockchain for intellectual property.
The Story Protocol was developed by PIP Labs and has raised $140 million in funding, with investors including Andreessen Horowitz (a16z) and Polychain, achieving a valuation of $2.25 billion. Its goal is to address the challenges of traditional copyright systems through decentralized licensing and smart contracts, especially in the context of the surge in AI content.
Detailed Steps to Purchase IP Coin#
Taking OKX as an example, here are the steps to purchase IP Coin, suitable for beginners:
1. Register an Account: Visit the OKX official website, create an account by filling in your email and password, and complete the account creation. You will need to verify your email, and it is recommended to use a commonly used email.
2. Complete Identity Verification (KYC): After logging in, go to “Account” > “Verification,” upload your identification and proof of address, with a processing time of 1-3 days. Ensure that the documents are clear; expired documents will be rejected.
3. Deposit Funds: Select “Wallet” > “Deposit,” deposit USDT or other supported currencies, which can be done via bank transfer or credit card. The deposited amount should cover transaction fees; it is advisable to start with a small amount.
4. Purchase IP Coin: Go to “Trade” > “Spot,” search for “IP,” select the IP/USDT trading pair, enter the purchase amount, and complete the transaction after confirming the order. Be mindful of price fluctuations and check the 24-hour trading volume.
5. Storage and Security: After the transaction is complete, IP Coin will be stored in the OKX wallet, and it can be transferred to the Story Wallet for enhanced security. Avoid risks associated with exchanges, and protect your private keys and recovery phrases.
Purchasing cryptocurrency involves market risks, and as an emerging token, the price of IP Coin may fluctuate significantly. It is recommended to start with a small amount when purchasing for the first time to familiarize yourself with the platform's operations. Monitor the price trends of IP Coin to avoid buying at high points. Exchanges may have hacking risks, so it is advisable to use hardware wallets for storing large assets.
Buying IP Coin is a relatively straightforward process that can be completed through mainstream exchanges like OKX, but it is essential to be aware of market risks and secure storage. The IP Coin of the Story Protocol represents the innovative potential of blockchain in the field of intellectual property management, and its high market cap and active trading volume demonstrate market recognition. Users should choose suitable exchanges based on their needs and continuously monitor relevant developments.