The New Way to Share Stock Original Content
Many artists are facing struggles when it comes to the management of the rights to their work. The digital era has changed the way we appreciate photography, music and other types of content. Most creators have to sign off the rights to their creations and share the revenue generated by it with centralized services that keep the market limited to their earning schemes.
Wemark has the intention to change this by creating a Blockchain-based ecosystem for the license and distribution of content. The platform is designed to work using the distributed marketplace business scheme that allows content n creators to sell or lease their content directly to a customer by signing off a smart contract.
Diving in a Shark-infested Market
Wemark is looking to compete in a marketplace currently dominated by companies like Shutterstock and Getty. Both companies control over 90% of the market for stocks photography online with both generating earnings of almost $4 billion in 2017 alone. By following an unfair business model that neglect content creators of almost 85% of the revenue generated by their body of work.
Wemark is looking to change this by taking away the middleman between artist and clients. Users will be able to browse the Wemark curated catalog for their preferred photos depending on the type of content they are looking for or by an artist of their choice.
The New Approach to Sharing Content
The company stands behind a series of basic principles to help them carry out their mission to change the distribution system of online stock content. For the team working at Wemark, it’s very important creators get to keep the full rights of their content. The Blockchain logs of the platform are set to help them keep track of the content licensed and how to manage the price of it in accordance with performance.
To avoid unfairness on each deal the distribution terms, fees and royalties will be kept immutable by the smart contract, and a change on the conditions of the deal can only be put in place if the parties involve conceding to it.
Wemark’s Basic work scheme
Referral programs will be put in place by the Wemark platform, that way creators will gain exposure to broader audiences that will lead to more business on his side and the chance to explore his creative side by creating customized content tailored to a client’s specification. All transactions done in the ecosystem will be handled using the WMK utility token. The deals will not be regulated by the common dynamics of a marketplace. Payment will be directly handled by the artist and the customer on defined terms laid out in s smart contract that will generate trust and transparency for both on future dealings.
The proposals of Wemark certainly sound strong enough to take on a marketplace that is utterly monopolized. To see how far they are willing to go with their plan, you can follow their tracks in the: Website, ANN Thread, Bounty Thread and joining the Telegram group
Selling or leasing content directly to the customers sound very good! I hope this kinds of project continues.
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This project looks promising, I think this is something that has been needed for sometime, given the amount of content that is being produced at scale these days.