Heritage Distilling’s Strategic Partnership for Blockchain-Backed Intellectual Property Development

Nasdaq’s Heritage Distilling Makes $360M Token Play With Story Foundation

Heritage Distilling Holding Company has announced a significant move into the blockchain space by partnering with Story Foundation to secure $360 million in $IP tokens. This comes through a private placement involving both cash and token components, marking the company’s first Nasdaq-listed endeavor of its kind.

The transaction will see Heritage raise $100 million in cash and receive $120 million worth of $IP tokens. The cash raised will be used to purchase $IP directly from Story Foundation at a fixed price of $3.40. In turn, Story Foundation will use the net proceeds from this sale to repurchase $IP on the open market within 90 days.

By the close of the deal, Heritage is expected to hold around 52.5 million $IP tokens, valued at approximately $361 million based on August 10, 2025 prices. This makes Heritage the largest public corporate holder of $IP, aligning it with the growing market for tokenized intellectual property.

The funding round attracted several notable backers, including a16z crypto, Amber Group, Polychain Capital, Arrington Capital, and Hashed. Cantor Fitzgerald and Roth Capital Partners acted as joint placement agents.

This “bold leap” into the digital asset economy aims to give Heritage a role in blockchain-powered intellectual property markets. The $IP token serves as the medium for registering, licensing, and monetizing intellectual property on-chain. It can also be used for staking and network validation.

Heritage’s treasury move gives it early exposure to this sector, which is expected to grow alongside the adoption of AI-native infrastructure. According to Story Foundation, using cash from the Heritage deal for token buybacks ensures long-term alignment between both parties.

Market watchers say the structure allows equity investors to have indirect exposure to the $IP token without requiring crypto wallet management.

By partnering with Story Foundation, Heritage is demonstrating its commitment to embracing innovative technology and staying ahead of the curve in the rapidly evolving market.

Source: blockonomi.com