PANews reported on October 13th that Aria officially announced the establishment of the Aria Foundation, which will govern its decentralized protocol and drive the on-chain integration of iconic IPs. As the infrastructure for tokenizing IP rights, the Aria Protocol has already supported the on-chain transfer of song royalties from artists such as Justin Bieber, BLACKPINK, and BTS, and issued the IP physical asset token $APL.

The project reportedly completed a $15 million strategic and seed round of funding in September of this year, with investors including Polychain Capital, Neoclassic, and Story Foundation. The Aria Foundation will be responsible for ecosystem resource management, IP asset issuance, and protocol governance, while its subsidiary, Aria Protocol Labs, will continue to provide technical and ecosystem support.