Unlocking $80T in Cultural Value: Korea’s IPs Tokenized for Global Investment

Seoul Exchange, which is one of only two authorized platforms for trading unlisted securities in South Korea, has formed a strategic alliance with Story Protocol to utilize its blockchain infrastructure as the exclusive settlement layer for tokenized real-world assets (RWAs). This partnership is focused on digitizing Korean cultural and intellectual property (IP) assets—such as K-pop royalties, K-drama licenses, webtoons, and patents—into compliant digital securities that can be invested in. Under this agreement, Story’s Layer-1 blockchain will serve as the foundation for Seoul Exchange’s RWA projects for the next three years, with transactions using Story’s native token ($IP) to enable a fully blockchain-based marketplace for assets that were previously not easily traded [1].

The project is directed at Korea’s $450 billion crypto sector, which ranks second globally by trading activity, and aims to use blockchain technology to tokenize international cultural assets. Some well-known IPs already on Story include BLACKPINK, BTS, Psy, and Pinkfong (the creators of Baby Shark). Seoul Exchange, which operates within a regulatory sandbox overseen by the Korean government, has received funding from top venture capital firms like Hashed, SoftBank Ventures, and POSCO Technology Investment. The platform plans to list a variety of assets, from music and entertainment rights to patents, allowing both individual and institutional investors to participate in trading within Korea’s advancing STO regulatory environment [1].

Story Protocol, which has attracted $136 million in investment from a16z, Polychain, and Samsung Ventures, rolled out its mainnet at the start of 2025 and has quickly built up its ecosystem. The blockchain is engineered to make IP programmable, embedding royalty payments and usage rules directly into tokenized assets. This initiative supports South Korea’s larger strategy to digitize securities, as reflected in new laws that authorize blockchain-based record-keeping and permit banks and financial institutions to issue digital assets [2].

This collaboration addresses key obstacles in monetizing intellectual property, which is often out of reach for global investors. By converting IP into tokens, Seoul Exchange and Story Protocol intend to unlock up to $80 trillion in value tied to intellectual property, making it possible to own fractions and trade transparently. Through this model, creators can maintain ownership while entering distribution agreements that generate ongoing revenue. Currently, platforms like Netflix control IP rights and restrict long-term benefits for creators, but tokenization could change this dynamic by allowing fans and investors to participate directly in funding and production [1].

Leaders from both organizations stressed the significance of this partnership. JD Yang, CEO of Seoul Exchange, remarked that the collaboration enhances the STO exchange’s reliability and aims to position it as Korea’s premier platform for IP tokenization. Seung-yoon “SY” Lee, CEO of Story Protocol, called the move a pivotal moment for making Korean cultural IP accessible to international investors and establishing Story as the leading blockchain for cultural assets [1].

The platform is set up to support a stablecoin pegged to the Korean won, pending regulatory approval, ensuring compatibility with local financial systems. This would improve liquidity and facilitate cross-border payments, advancing Seoul Exchange’s vision to connect Korea’s cultural sectors to global financial markets. Looking ahead, the roadmap includes broader offerings like financial products, remix licenses, and governance features, further enhancing programmability of static IP rights [1].

This joint effort highlights South Korea’s expanding influence in the RWA field, building on its reputation as a leader in digital technology and cultural exports. Through the tokenization of IP, Seoul Exchange and Story Protocol are both rectifying market inefficiencies and establishing a new model where creators, investors, and fans can collectively benefit from the value of global cultural assets. As regulations continue to develop and institutional players join in, this partnership could become a blueprint for integrating RWAs into conventional finance systems across Asia and internationally [1].