Story Protocol’s native token, IP, has jumped over 50% in the past month, as the project plans a “big reveal” for users and appoints Chief AI Officer.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
Story Protocol IP $4.54 24h volatility: 5.2% Market cap: $1.33 B Vol. 24h: $45.54 M has appointed Sandeep Chinchali, a professor at UT Austin and former NASA researcher, as its new Chief AI Officer, signaling a bold expansion into AI-led innovation in the Web3 space.
The announcement has resulted in a 66% uptick in the 24-hour trading volume of the project’s native token, IP.
Chinchali, who holds a Stanford PhD in AI and distributed systems, is known for his work in generative AI, robotics, and distributed systems. He has also previously worked as an early engineer at a startup later acquired by VMware.
Introducing Story's new Chief AI Officer, @SPChinchali.
Sandeep is a professor at UT Austin focusing on GenAI, robotics, and distributed systems. He’s an ex-NASA researcher, early engineer of a startup acquired by VMware, and holds a Stanford PhD in AI and distributed systems.… pic.twitter.com/NHcMiB3eTe
— Story (@StoryProtocol) July 17, 2025
In his new role, Chinchali will lead Story’s AI strategy, guiding key incubations and helping the ecosystem explore real-world applications of AI within Web3.
As per an official X post, the project will use his expertise in robots, sensors, and machine learning models to build decentralized AI infrastructure on the platform.
Story Protocol is a Layer 1 blockchain built to transform how intellectual property (IP) is managed and utilized, particularly in the context of the internet and Web3.
Chinchali said he sees the next phase of AI as a shift from just relying on GPUs to focusing on unlocking valuable, underutilized real-world data as intellectual property.
I’ve spent my career chasing one question: How do we gather the right data to make AI work in the real world?
From Stanford labs to UT Austin classrooms, I searched everywhere. The answer isn’t another AI lab, but a blockchain built to treat data as IP. That’s why I am joining… pic.twitter.com/4Oz5zhiAV4
— Sandeep Chinchali (@SPChinchali) July 17, 2025
He shared an example of how capturing a rare dashcam scene, registering it on Story, and generating synthetic variants using AI could allow contributors to earn royalties. He aims to use Story’s platform to enable decentralized, transparent, and monetizable training data pipelines for AI models.
Story Protocol has also hinted that next week will bring a “big reveal” under its Chapter 2 vision. The announcement has led to speculation of IP becoming the next crypto to explode as traders position themselves ahead of the update.
At the time of writing, IP is trading at around $4.53 with 50% monthly gains. Launched in February this year, the token currently boasts a market cap of $1.33 billion and sits at 72nd spot in the list of the largest cryptocurrencies.
Meanwhile, the broader crypto market continues to rally, adding around $60 billion in market cap in July. This comes as the US House passed three landmark crypto bills, providing much-needed regulatory clarity.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
