The most overlooked play on Nasdaq right now isn’t an ETF or miner. It’s a company quietly earning yield from on-chain IP. It’s called @ipstrategy_ ($IPST) and it just shared results from its first validator report. Since launch, the validator reached 99.9% uptime and generated 290K $IP in rewards - about $1.5M in revenue just by securing the Story network. The story behind it is bigger. IP Strategy holds 43.5M $IP on its balance sheet but trades at only 0.36× mNAV. It’s one of the few public ways to get exposure to the programmable IP economy without touching crypto directly. Story is quickly becoming the chain for tokenized IP - from K-pop royalties and webtoons to AI data and film rights. Grayscale added $IP to its AI Fund. Seoul Exchange chose Story for RWA settlement. Barunson, studio behind Parasite, launched its IP platform on Story. IPST earns yield every block and scales with the ecosystem. If you missed MicroStrategy’s early move on Bitcoin, this feels like the sequel.