Programmable IP is going mainstream. Heritage Distilling (Nasdaq: CASK) has announced the launch of a new $360M $IP token reserve with $220M in PIPE financing ($100M in cash and $120M in $IP tokens) and participation from prominent investors including @a16zcrypto, @arrington_cap, @ambergroup_io, @daofive, @hashed_official, @mirana, @neoclassiccap, @_openworld, @polychain, @stix_co, @selinicapital, @syncracycapital, and others. For the first time, mainstream investors can gain exposure to $IP and the programmable IP economy through traditional equity markets. To support its $IP digital asset treasury strategy, @heritagedistill will allocate $82M of proceeds to purchase $IP tokens from Story Foundation at a fixed price of $3.40 per $IP token. Story Foundation will use 100% of this $82M cash proceeds received from the token sale to strategically repurchase $IP tokens on the open market within the 90 days following the sale. IP is an $80T asset class and the lynchpin to AI’s advancement. This new treasury unlocks market access to a new kind of digital asset that is grounded in real world economic fundamentals: licensing, royalties, ownership, data provenance in the age of AI. Through this collaboration, Story gains market validation, institutional reach, and the capital to achieve our ambitious founding vision while fueling the growth of the network and ecosystem.

Learn more about today’s announcement ↓