IP Coin is the native token of Story Protocol, which 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 Story Protocol, officially launched on February 13, 2025. The 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 astonishing that its market cap has rapidly grown within just a few weeks, reflecting the market's strong interest in blockchain for intellectual property.
Story Protocol, developed by PIP Labs, has raised $140 million in funding, with investors including Andreessen Horowitz (a16z) and Polychain, reaching 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#
The following steps for purchasing IP Coin are provided using OKX as an example, 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, and 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 completed, IP Coin will be stored in the OKX wallet, and it can be transferred to Story Wallet for enhanced security. Avoid exchange risks by protecting your private keys and recovery phrases.
Purchasing cryptocurrency carries market risks, and as an emerging token, the price of IP Coin may fluctuate significantly. It is recommended to invest a small amount initially to familiarize yourself with the platform's operations. Monitor the price trend of IP Coin to avoid buying at high points. Exchanges may be susceptible to 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 attention should be paid to market risks and secure storage. The IP Coin of Story Protocol represents the innovative potential of blockchain in the field of intellectual property management, and its high market capitalization and active trading volume demonstrate market recognition. Users should choose suitable exchanges based on their needs and stay updated on relevant developments.