A P2P distributed marketplace for digital content

Many of us will agree the fact that the internet technology is helping a lot of individuals in various fields to create awareness / promote their brand/service in a variety of methods. Thanks to Facebook, location is not a barrier anymore to grow your business. When compared with Web 1.0, Web 2.0 has created a great marketplace for sharing the digital content like images, videos etc.

It is estimated that the digital marketplace is composed of roughly 1 billion customers and 100 million creators. And, the distribution of the digital content is controlled by only 100 companies. Sounds surprising? Maybe. But, sadly it is a fact.

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In this kind of centralized system, the creators are forced to sacrifice/give up the following:

• Majority of the revenue
• Rights for their work
• Control over pricing

When the creators are unable to involve in any of the above-mentioned things, they lose the rights to their work completely. And, the distributors are taking the majority of the profits without giving any thought about the creators. Not only the creators lose the right to their work, but also the reward for the same. The creators have no choice but to rely on this kind of companies because they are not able to get the potential buyers themselves.

Let’s take the example of Stock photography. Shutterstock and Gettyimages are controlling the majority of the distribution market of royalty-free or exclusive images. Once they upload their photos on this kind of sites, they will only receive 10-15% of the total sale amount. Plus, they lose the licensing rights to their work completely.

Also, if the image is considered as “royalty-free”, then they will not get paid for the image every time it is downloaded. Instead, they will receive only a single payment. Because of this centralized system, the customers are building relationships only with the agencies and not the creators.

Why don’t we think of some option which directly connects the customers with the photographers? That’s exactly the objective of the blockchain based platform named Wemark. Wemark aims to build a distributed marketplace for digital content where the customers can directly license the content from the creators. As the platform is based on blockchain technology, it is secure and transparent because the transactions are irreversible.

The elimination of middlemen is beneficial to both the customers and the content creators. The content creators can fully control the pricing, rights and license of their content. And, the customers can negotiate directly with the creators to get better rates based on their budget. Thus, the Wemark platform offers a lot of flexibility for both the customers and the creators.

Wemark is like a P2P (Peer-to-Peer) marketplace for the digital content. As the transactions are automated by Ethereum based smart contracts, the platform will use its own cryptocurrency named Wemark Tokens (WMT) for making the transactions. WMT tokens are special utility tokens based on the Ethereum standard ERC20.

For more information about the platform, please visit the Website, ANN, Bounty Thread and join the Telegram.