PIP Labs Raises $80M Led by a16z Crypto for Story Protocol Launch
CryptoNewsTerminal Staff21 Aug, 2024
PIP Labs Raises $80M Led by a16z Crypto for Story Protocol Launch
PIP Labs has raised $80 million in a Series B funding round led by a16z Crypto, the venture capital arm of cryptocurrency exchange Coinbase. Other investors who participated in the round include Polychain Capital and K11 founder Adrian Cheng. The funding will be used to develop and launch the Story Protocol mainnet, which is expected to happen later this year. Story Protocol is a Layer 1 Proof of Stake blockchain that enables the building of decentralized applications. The Story Protocol team believes that this funding round will help them to accelerate the development of Story Protocol and bring it to market.
