PIP Labs reduced about 10% of staff tied to Story Protocol entities, including Story Foundation and Poseidon, as it shifts resources toward AI intellectual property infrastructure following its 2024 Series B.
PIP Labs, the developer behind Story Protocol, cut 5 full-time employees and 3 contractors, or about 10% of staff tied to Story Protocol entities. The affected teams included Story Foundation and Poseidon. The company said the layoffs are part of a strategy to increase focus on AI intellectual property infrastructure, adding to its previously stated interest in AI agent-related opportunities. PIP Labs had raised $80 million in a 2024 Series B round.