The brand-new native token of a layer-1 blockchain focused on intellectual property (IP) has skyrocketed by 164% in price in its first week of existence.

Story (IP) launched on February 13th at the listing price of $2.26 and is now trading at $5.98 at time of writing.

It’s already the 71st-largest crypto asset by market cap and has surged by nearly 120% in the past 24 hours alone.

Story is a scalable intellectual property solution that aims to serve as a blockchain where rights holders can upload IP, set the terms of use and monetize it throughout the protocol’s application ecosystem.

The project announced on Monday that it was joining Stanford University’s Future of Digital Currency Initiative (FDCI).

“Our engineering team will be assisting Stanford FDCI on open research problems in blockchains. This research collaboration will accelerate Story’s roadmap. 

Research is a critical piece of shaping the future of blockchain execution environments. Story will support Stanford FDCI in the following research areas:

– High-throughput concurrent processing for real-world applications
– Seamless integration with Story’s existing multi-core architecture
– Hardware-level smart contract execution that maintains robust verification.”

Story also published its technical roadmap on Thursday on the social media platform X. The roadmap includes a “comprehensive” network upgrade in the third quarter of the year that will aim to improve performance and governance.