Wemark, a VC-backed startup has launched an alpha sort of its digital content marketplace for a blockchain, aiming to give creators a possibility to transact in the customers directly. The platform release happened prior to the company ‘s token generation event, occuring in July-August 2019 .
As may be known, the ?internet is quite a bit about sharing digital content nowadays, including photos, music, and video. All it’s made by thousands, as well as millions of creators, with no less people use their content. That could be, there is a captive market, anticipating innovation.
However, photographers and other professionals have to sell their content through centralized platforms which control the distribution of digital content. This would mean that creators are often forced to share their revenues, control, and many of their rights in the content produced with distribution giants like Getty Images or Shutterstock. This control often ends in the content creator receiving just a small a part of the actual price paid through customer. This is a way to place barriers to professionals.
Wemark began by Tai Kaish, Pavel Elkind and Roy Meirom . The business is possessing a solution which could remove intermediaries between creators and customers of digital content for the benefit for the kids both. One of several key features should be to decentralize the whole licensing process. From accepting payments and providing accessibility to the content, in to the registration of licenses and distribution of revenue, all by using a blockchain-based system that isn’t controlled by third?party.
To realize their idea, this company has raised over $1 million in equity financing from Palo Alto’s NFX Fund, Elevator Fund, Sarona ventures along with investors.
Now, Wemark has launched?an alpha sort of its curated marketplace of commercial images?by using partners, including top-selling image producers like Monkey Business, Caia Image, and CAVAN. They will certainly make their collections available through Wemark’s new licensing protocol. But not all images have been uploaded to your marketplace yet, Wemark’s collection currently contains over 2million photos, and also the number is easily increasing.
The platform utilizes blockchain, that allows direct trade between content creators and customers.?”Digital content licensing is an ideal use-case for smart contracts which facilitate payments and licensing directly between creators and customers”, says Tai Kaish, Wemark’s CEO.
Wemark’s licensing protocol accepts payments totally customers, registers a license and automatically distributes the funds with the photographer.
As the Wemark representative commented, stock photography is among the most centralized vertical inside the digital content industry, where major players compete to 85 % of revenues. The Wemark in its turn has a fixed fee of Fifteen percent for payments, meaning the lion share is taken through the photographer.
Similarly, Kaish added another. “Wemark’s blockchain-based marketplace allows creators to learn most of the benefits of distributing their content directly, while still providing customers by having a single platform to get into all the content on the network. Indeed, the confidence and stability of licensing their proud of a system that can’t increase their fees or change their content pricing without their consent”
According to your Wemark’s roadmap, industry will not be limited to just photos: support for other types of content for instance illustrations, vectors, video, stock music and 3D models is claimed to be added, starting Q1 2019.
Besides investors, Wemark can also have attracted professionals inside photo industry as advisors. Your list includes founding father of Picasa Lars Perkins, co-founder of Forbes.com Miguel Forbes, and former Shutterstock executives Keren Sachs, director of content development, and Michael C. Lesser, vice chairman and general counsel.
“The world’s leading content providers have entrusted us with regards to their photos before we have even licensed an image. They believe in regards to what we are building as well as the future of the information licensing on your blockchain. We are honored and invigorated with the support of your creative community”, said Keren Sachs.
The marketplace launch allows potential customers to experience full platform, except the licensing and downloading of images which can only be completed with Wemark tokens (WMK).
WMK will become available as soon as the company’s token generation event, scheduled for July-August 2019 .
In summary each day a new experience starts for Startups, as an easy way of doing business, where everyone wins, the blockchain-bitcoin technology has great possibilities in operation between peers and enormous companies. It waits for first time ads.