Heritage Distilling Pioneers With $360M in Story Protocol Tokens
Heritage Distilling Holding Company (nasdaq: CASK) is making history. It’s set to hold $360 million worth of Story Protocol’s IP tokens as its primary reserve.This makes Heritage teh first U.S. nasdaq-listed company to adopt blockchain IP assets.
The agreement involves a private placement of $220 million. This includes both cash and token contributions from Story Foundation and top crypto investors. Heritage will allocate $82 million of its funds to buy IP tokens at $3.40 each from Story Foundation. At the close, Heritage’s treasury will have about 52.5 million IP tokens.
Heritage will raise another $100 million from common stock and warrants,plus extra tokens from partners. All cash from the sale will go back into the market to buy more IP tokens. This aims to stabilize the market and align interests.
- Heritage buys 52.5 million IP tokens worth $361 million.
- Net proceeds used to buy back IP on the market.
- IP price is down 12% in 24 hours but 36% higher over 30 days.
Story Protocol is an AI-native blockchain for IP registration and licensing. It empowers apps like Aria and Ablo,where big names like Adidas and BTS create tokenized content.
Heritage’s move reflects how companies increasingly view digital assets as valuable reserves that generate yields. Following Story Protocol’s mainnet launch in February 2025, this deal strengthens ties with Stability AI, Grayscale, and others. Despite the dip, IP retains a 36% increase over the last month.
