Wrapped Story PriceWIPInactive

What is Wrapped Story (WIP)?

This article covers the wrapped token WIP (CoinMarketCap ID 35711), which represents the underlying Story ($IP) asset; it is not the same as the native $IP token itself, and CoinGecko lists it under the name "Wrapped IP." Wrapped Story (WIP) is a wrapped-token asset associated with the Story ecosystem, a project focused on tokenizing intellectual property (IP). Wrapped tokens are designed to make a cryptocurrency from one blockchain usable on a different blockchain, enabling interoperability, liquidity, and access to applications on non-native chains. WIP carries a total and maximum supply of 1,000,000,000 tokens, while its self-reported circulating supply stands at 0 WIP. The asset is listed on CoinMarketCap under the Real World Assets category. CoinMarketCap marks WIP as a preview page, which indicates a lower listing tier; the page also invites the project owner to update token info, submit token unlocks, and claim the community badge. The project has been positioned alongside the broader Story Protocol narrative, which centers on unlocking the creative asset class through IP tokenization.

Key Specifications & Tokenomics

• Name: Wrapped Story
• Ticker / Symbol: WIP
• CoinMarketCap ID (UCID): 35711
• Category: Real World Assets, Wrapped Tokens
• Total Supply: 1,000,000,000 WIP
• Max Supply: 1,000,000,000 WIP
• Circulating Supply: 0 WIP (self-reported; not verified by CoinMarketCap)
• Chain: Story
• Contract Address: 0x1514000000000000000000000000000000000000 (shown truncated as 0x1514...000000 on CoinMarketCap and Bitget; the full address appears on the Story chain)
• Launch Date: 2025-02-12
• CoinMarketCap Listing Date: 2025-02-06
• Block Explorer: www.storyscan.xyz
• DEX Mode: Listed with a DEX Mode indicator on CoinMarketCap

WIP is a wrapped-token asset whose price moves with the market; live pricing and volume are shown on the asset's market-data page. Note that Bitget reports the price has stopped updating and CoinGecko notes WIP tokens have stopped trading on the exchanges it lists.

Who created Wrapped Story?

CoinMarketCap lists the following key team members for the Story ecosystem project, which WIP is associated with: SY Lee serves as Co-founder and CEO, having previously founded Radish Media, which was acquired by Kakao Entertainment for $440M. Jason Zhao is Co-founder and CPO, a former Google DeepMind researcher with an MS in Computer Science from Stanford. Hao Chen is CTO, formerly Founding VP of Engineering at Harmony Protocol and ex-Tech Lead at Amazon. Bu Fan is Head of IPFi and formerly Head of PancakeSwap. Weilei Yu leads Growth, having previously led Flow blockchain growth at Dapper Labs. Ben Sternberg is CFO, formerly CFO of Radish Media. Susan Park is Head of Design, a former design lead at Google. Shazia Hasan is VP of Marketing, formerly with Matter Labs (ZKsync) and JPMorgan Chase. Between the Story Foundation and its development team, there are 62 full-time employees and 7 part-time employees.

How does Wrapped Story work?

Wrapped tokens operate through a custodial mechanism. A merchant sends cryptocurrency to a custodian, who locks the coin in a digital vault. Once locked, the custodian mints a wrapped token representing the original coin. To exchange a wrapped token for its original unwrapped cryptocurrency, the wrapped token must be destroyed through burning, and the custodian unlocks the original cryptocurrency. This mechanism allows a token to be used on a non-native blockchain, which may be faster or cheaper, and provides access to specific applications. The Story Protocol narrative centers on tokenizing intellectual property, with related media titles referencing the tokenization of a $70 trillion IP market and the unlocking of an $80 trillion creative asset class.

What makes Wrapped Story unique and valuable?

Wrapped Story derives its value proposition from two intersecting themes: wrapped-token interoperability and intellectual property tokenization. Wrapped tokens provide interoperability, allowing tokens to transact on non-native blockchains and access specific applications. They also increase liquidity and capital efficiency by enabling tokens to be used in different ways across chains. The Story Protocol narrative adds a distinct angle by focusing on IP tokenization, a market described in related media as a $70 trillion IP market and an $80 trillion creative asset class. The project also carries the backing of a publicly listed team with experience across major technology and cryptocurrency organizations, including Google DeepMind, Amazon, Harmony Protocol, PancakeSwap, Dapper Labs, Matter Labs, and JPMorgan Chase.

What is Wrapped Story used for?

WIP functions as a wrapped-token asset within the Story ecosystem, designed to make value from one blockchain usable on another. Wrapped tokens such as WIP are used to enable interoperability, allowing holders to transact on non-native blockchains that may be faster or cheaper, and to access applications that are not available on the native chain. They also serve to increase liquidity and capital efficiency by allowing tokens to be used in different ways across different blockchains. In the context of the Story ecosystem, the underlying narrative focuses on the tokenization of intellectual property, positioning WIP within a broader effort to bring IP-related assets into blockchain-based markets.

How Is the Wrapped Story ecosystem developing?

The Story ecosystem is tied to the $IP token generation event in February 2025. The mainnet launch is referenced as upcoming, with exchange listing details to be announced closer to it. $IP is expected to be available on major cryptocurrency exchanges following its February 2025 TGE, and the project has stated it is in discussions with Coinbase, Binance, OKX, and other global exchanges for listing opportunities. Vesting schedules for the Story ecosystem are tracked on public vesting data platforms. The broader wrapped-token sector continues to develop, with new wrapped products such as Circle's cirBTC entering the market. CoinMarketCap also lists WIP with a DEX Mode indicator, and the project page includes community and holder sections. According to Bitget, the price of this coin has not been updated or has stopped updating; CoinGecko notes WIP tokens have stopped trading on all exchanges it lists, and CoinCarp indicates Wrapped Story is not currently available for purchase on a cryptocurrency exchange.

How to mine Wrapped Story?

Wrapped Story is a wrapped-token asset and does not operate on a traditional mining model. Wrapped tokens are created through a custodial minting process, in which a custodian locks the original cryptocurrency in a digital vault and mints a wrapped token representing it. The wrapped token can be destroyed through burning to unlock the original cryptocurrency. As a result, there is no proof-of-work mining mechanism associated with WIP. Holders interact with the asset through supported platforms, and the project is listed with a DEX Mode indicator on CoinMarketCap.

How to keep your Wrapped Story Coin safe?

Keeping wrapped tokens safe requires attention to the specific risks associated with this asset class. Wrapped tokens carry fee considerations, since the minting process may trigger fees. They also carry the risk of inequivalent value, as during periods of high volatility the wrapped token could be worth less than the original coin. Contagion risk is another factor, since increased interdependence among currencies raises the risk of a financial crisis spreading from one cryptocurrency to another. Best practices include using reputable wallets, verifying contract and explorer information through the official block explorer at www.storyscan.xyz, and storing assets securely rather than leaving them on trading platforms. Users should also review the official website, whitepaper, and social channels listed on CoinMarketCap for updated project information.

Key risks include: the circulating supply of 0 WIP is self-reported and not verified by CoinMarketCap; Bitget notes the price has stopped updating and CoinGecko notes WIP tokens have stopped trading on the exchanges it lists; and different sources report different prices, which may reflect different snapshots or possibly different assets.

Official links: Website https://www.story.foundation/; Whitepaper https://www.story.foundation/whitepaper.pdf; Source code https://github.com/storyprotocol; Community https://discord.gg/storyprotocol and https://twitter.com/StoryProtocol.