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Story Protocol Founder Steps Down Amid Community Backlash Over $45 Daily Revenue
Story Protocol Founder Steps Down Amid Community Backlash Over $45 Daily Revenue
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BTCCSquare news:
Jason Zhao, co-founder of Story Protocol, has resigned from his role in the $2 billion on-chain intellectual property venture, sparking accusations of a 'soft rug pull' from the crypto community. The project, which raised over $130 million from prominent investors like a16z, generates a mere $45 in daily fees—a stark contrast to its lofty ambitions of tokenizing $61 trillion in IP.
The backlash intensified after Zhao announced his transition to an advisory role on X, citing a renewed focus on AI applications in frontier industries. Critics argue the MOVE reflects opportunistic exit timing after securing substantial funding with minimal delivered utility.
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