Co-founder of Story Protocol, Jason Zhao, Resigns and Establishes New Artificial Intelligence Business
After a tenure of 3.5 years as CEO, Jason Zhao has announced his departure from Story Protocol. Zhao, who was also a co-founder of the company, is stepping down to focus on his new venture, Poseidon, an AI company specializing in science and space.
In his place, S.Y. Lee, the project initiator and co-founder of Story Protocol, has taken over the leadership. Lee has been the final decision-maker since the project’s inception, setting the vision, assembling the team, raising funds, and now, leading the company fully. While Zhao was more public-facing, focusing on marketing and protocol design, Lee has operated more behind the scenes.
Under Lee’s leadership, Story Protocol aims to continue its mission of revolutionizing intellectual property (IP) management through blockchain technology. The company plans to build its network of IPs, expand partnerships, and improve the platform’s utility. Lee will also begin taking on more public-facing roles, a role previously held by Zhao.
The leadership change comes amid some community controversy about Zhao’s departure, but with Lee as CEO, Story Protocol aims to enter a new phase with stable leadership focused on long-term development and trust rebuilding. Additionally, the Story Protocol team is receiving reinforcement with new senior hires, including a new Chief Product Officer, Andrea, formerly at Amazon working on conversational AI.
The major partnership revealed by Story Protocol has caused the IP token price to soar, indicating a positive outlook for the company. The combination of good news, a price surge, and a key founder's departure has led to a significant restructuring at Story Protocol. Despite the departure of Jason Zhao, he will remain involved with Story Protocol as a strategic advisor.
In summary, S.Y. Lee, the project initiator and co-founder of Story Protocol, has taken over as the sole CEO. Under his leadership, Story Protocol aims to continue its mission of revolutionizing IP management, expand partnerships, and improve the platform’s utility. The leadership change is part of a restructuring aimed at preparing for the next phase of growth for Story Protocol.
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