Heritage Distilling Backs Story Protocol Token With $220M Treasury Plan, IP Hits New High

Story Protocol’s native token IP surged nearly 25% in the past 24 hours, cementing its place as one of the market’s top performers. The rally was triggered by Heritage Distilling Holding Company, which unveiled a groundbreaking plan to anchor its corporate treasury around IP—marking the first time a Nasdaq-listed company has adopted such a strategy.

Heritage confirmed that this move is part of a broader initiative called its “IP Strategy,” designed to establish programmable intellectual property as a core digital asset within institutional portfolios. The company previously secured $220 million in August through a private investment in public equity (PIPE) round to fund its token acquisitions.

The financing round attracted heavyweight backers including a16z crypto, Arrington Capital, dao5, Hashed, Polychain Capital, and Selini Capital, with Cantor Fitzgerald and Roth Capital Partners acting as placement agents.

Fueled by the announcement, IP briefly hit a new all-time high of $11.84 before retracing to $10.28 at press time. Still, on-chain data points to strong buy-side momentum, with daily trading volume soaring 650% to $650 million.

With retail traders piling in and institutional investors signaling long-term support, IP’s trajectory suggests that Story Protocol’s vision for intellectual property as an asset class may be entering a new phase of adoption.