Nearly $700 million worth of the token has exchanged hands during this brief period, accounting for almost a quarter of IP’s circulating supply.
A company called Heritage Distilling announced just hours ago that it will launch the first IP-focused treasury strategy, consisting of a $220 million investment in the token funded through a private placement led by a16z crypto and other top venture capitalists.
According to Heritage, the intellectual property (IP) market is worth nearly $80 trillion and this purpose-built layer-one blockchain is unlocking the full potential of blockchain technology to power the next era for IP.
“Through $IP, investors gain access to a growing ecosystem already working with globally recognized IP and creators, including Justin Bieber, BLACKPINK, Madonna, Adidas, and Stability AI, while positioning ahead of the next frontier: tokenized real-world data for AI,” the official press release reads.
With the launch of this treasury, investors will be able to get exposure to the IP token through the U.S. regulated markets.
