Story Protocol developer PIP Labs has laid off around 10% of its staff, doubling down on AI-related initiatives

By: theblockbeats.news|2026/03/14 09:26:15

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BlockBeats News, March 14th, PIP Labs, the development company behind the Layer 1 IP blockchain Story Protocol, recently laid off 5 full-time employees and 3 contract workers, accounting for about 10% of the personnel involved in Story-related work. The company stated that this move is aimed at adjusting resource allocation to further focus on the intellectual property (IP) infrastructure related to AI agents and AI training data.

PIP Labs had previously completed a $80 million Series B financing round in 2024, with a valuation of approximately $20 billion, led by Andreessen Horowitz. Meanwhile, the Story ecosystem incubation project Poseidon (AI data platform) is currently providing compliant training data to AI developers, with its growth seen as a key driver for the company's strategic adjustment.

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