Wemark - Token Analysis and ICO Breakdown
Wemark is creating a unique blockchain-based ecosystem for artists to offer their digital generated content. The company is aiming to overtake the current distribution system of earnings and rights over the content shared on public networks by allowing these artists to license their work directly to a client while keeping ownership and full rights to it.
The company currently is undergoing development in other forms of media but is ready to offer their services to photographers. The team of Tai Kaish, Pavel Elkind, and Roy Meirom are looking to change the dynamics of the generation of revenue set by the major distributors of media online with the Wemark Token (WMK).
Wemark’s ICO Details
The WMK token is a financial toll intended for native use on the Wemark ecosystem, it’s how users will pay for the content they find on the platform, and it’s how the artists will collect their earnings and rewards. It’s also the tool offered by the company to finance further development of their operation by offering a public sale.
The token has been developed using the ERC-20 protocols offered by the Ethereum Blockchain. 135 million units will be held in place by the company on the token generation event that will take place between May 7th and May 21st of 2018. The company needs to reach a hard cap of $8 million to be considered successful, but they can manage with a soft cap of $1.5 million to keep operating.
Wemark’s Token Allocation
After the TGE takes place, the token allocation will be carried over. The company is looking to handle the distribution as it follows:
• 38% will be offered in the public sale at the cost of $0.20 per WMK unit
• 37.5% will be kept in reserve for community rewards and scaling economy
• 12% will be offered to the partners and advisors
• 11% will go to the founding team and the employees
• 1.5% will be used in bounty programs
All the tokens allocated to the founders, advisors, and developers will be locked for transfer for the first 12 months of operation. If the hard cap is not reached all unsold units of the token will be disposed of and the supply will be handled accordingly.
Future Uses for the WMK token
The WMK token is being developed with the purpose of giving content creators the chance to grow as entrepreneurs. With increased income rates these professionals are not likely to stay stranded on generating stock content with no purpose. Freelance photographers can find the time to develop their own style and cover the expenses of more detailed photo shoots.
The token also works as a tool to enable partial ownership of the content being negotiated with a customer, allowing them to share ownership and revenues based on the level of success and exposure. Such as these, new ways to use the token will be developed as more media forms are integrated into the ecosystem. The benefits for musicians, composers, and broadcasters are unlimited.
To get a glimpse of the long-term plans of Wemark, you can visit the Website, ANN Thread, Bounty Thread and join the Telegram group
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