Story Protocol developer PIP Labs lays off ~10% of staff, pivots toward AI-related IP infrastructure
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Story Protocol developer PIP Labs lays off ~10% of staff, pivots toward AI-related IP infrastructure
According to Decrypt, PIP Labs—the developer behind Story Protocol—has laid off several employees and contractors, including five full-time staff members and three contractors, representing approximately 10% of the total workforce across Story-related entities. Affected entities include the Story Foundation and the infrastructure layer Poseidon. Andrea Muttoni, Story’s Chief Protocol Officer, stated that PIP Labs is refining its focus through modest personnel adjustments, prioritizing AI-oriented intellectual property infrastructure—including AI training data and AI agent-related businesses. Story’s native token, IP, has declined roughly 86% since its launch and is currently trading at approximately $0.80.
Navigating Web3 tides with focused insightsTechFlow News, March 14: According to Decrypt, PIP Labs—the developer behind Story Protocol—has laid off several employees and contractors, including five full-time staff members and three contractors, representing approximately 10% of the total workforce across Story-related entities. Affected entities include the Story Foundation and Poseidon, the infrastructure layer.
Andrea Muttoni, Story’s Chief Protocol Officer, stated that PIP Labs is making minor personnel adjustments to sharpen its focus on core initiatives—specifically, AI-oriented intellectual property infrastructure, covering AI training data and AI agent-related business. Since its launch, Story’s native token IP has declined roughly 86% and is currently trading at approximately $0.80.
