Photographers Can Now Earn What They Deserve With Photochain

Introduction

The stock photography market is currently estimated to be a $3 billion industry annually and this is projected​ to double by 2020. Despite being worth that much, the industry is currently being dominated by about 3 centralized competitors (Shutterstock, Adobe’s AdobeStock, Getty Images and several other smaller platforms) who control the pricing.

Current stock photography platforms share only a little part (23% on the average) of the earned funds (revenue) with the actual contributors. Another limitation of the current system is that photographers can't set their own prices, and even when they do get paid, payout periods are usually monthly.

In this age of blockchain technology disrupting several sectors, the stock photography industry looks like one that's ripe to be disrupted.

Photochain

Photochain is a peer-to-peer, decentralized stock photography platform that uses smart contracts based on the Ethereum blockchain. It is a laser-focused decentralized application, disrupting the stock photography industry with an already working prototype. The Photochain platform combines the powers of the Ethereum network with the IPFS network.

Photochain intends to give back power (revenue) to the contributors.

Benefits of Photochain

• With Photochain, photographers get up to 95% of revenue (as opposed to 23% on the centralized alternatives) due to a marketplace existing that connects buyer to photographer directly without the need for an intermediary. The low fees (5%) also makes it possible for the photographers to charge lower on Photochain compared to the centralized alternatives.

• Due to the availability of the peer-to-peer marketplace, photographers can offer their works to a wide array of potential customers. The marketplace also enables them to determine how much their works are worth and set their prices.

• A special database called the Digital Copyright Chain has been designed to store copyright information about each picture uploaded on the platform. Being a blockchain database, this information will always be available to anyone at all times.

• Instead of waiting to get paid monthly, contributors earn and receive their rewards instantly. The rewards are paid in PHT (PHOTON token).

Token and ICO Details

The PHOTON token is a utility token used across the Photochain ecosystem. It is designed as an ERC20 token with a hard cap of 230 million PHT.

170 million PHT will be up for sale during the main sale that will take place from the 6th of April 2018 ​to the​ 18th of May 2018.

Minimum transaction during the ICO will be 0.1 ETH or its corresponding value in BTC while the maximum transaction is 1000 ETH or its corresponding value in BTC.

1 PHT is currently valued at 0.00017 ETH. However time based discounts are available for the PHT tokens price during the Main Sale Event.

A 30% discount during the first 10 days making the price of 1 PHT = ETH 0.000119.

From day 11 to 21, you get a 20% discount (1 PHT = ETH 0.000136)

Day 22 to 32 gives you a 10% discount (1 PHT = ETH 0.000153).

A 5% discount applies to sales on day 33 to 43 (1 PHT = ETH 0.000162) after which the other tokens will be sold at the normal price of 1 PHT = ETH 0.00017.

Both ETH and BTC will be accepted during the main token sale and the PHOTON tokens will be issued after the token sale has been concluded. This way, only tokens that were paid for will be minted, eliminating the need to burn unsold tokens.

Roadmap

Below is the roadmap for the development of the Photochain platform:

April 2017

• Idea
• Idea, business case and market research

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June 2017

• Project evaluation
• Development of the DApp prototype

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September 2017

• Strategy & Design
• Go-Live of the DApp prototype

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October-November 2017

• Preparation for crowdsale
• Communication and marketing activities
• Commitment of the Blockchain Community
• Commitment of the photography community
• Legal form
• Advisers and new team members

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December 2017

• Pre-Sale preparations
• Private Pre-Sale at special discounts for early supporters

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January 2018

• Private Pre-Sale preparations
• Private Pre-Sale at special discounts for early supporters
• Enhanced documentation and planning
• New team members
• Community growing
• New partnerships

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February 2018

• Transition
• Preparation for Main Sale Event
• Compliance and regulations
• Developing a more comprehensive Photochain DAPP version

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Q1 2018

• Main Sale event (ICO)
• Publishing of new collaboration partners
• Regulatory compliance for our Main Sale Event

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Q2 2018

• Operation
• Photochain DApp Version 1.0 on the Ethereum
• Mainnet
• Trading of the PHT Tokens at Crypto Exchanges

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Q3 2018

• Continual improvement
• Photochain DApp as standalone client on all common operating systems

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References

Website - https://photochain.io/
Whitepaper - https://docs.google.com/document/d/1C4UPA9-9o2cOLJOEYMIVwN_Fi3Ebtn2YcRua58hQ7_0/edit?usp=sharing
Twitter - https://twitter.com/photochain_io
Facebook - https://www.facebook.com/Photochain-141364963181927
Medium - https://medium.com/@photochain
Instagram - https://www.instagram.com/photochain.io/

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Authored by 23xfi
Bitcointalk - https://bitcointalk.org/index.php?action=profile;u=1347685
ETH - 0x00889349Ca058116E6430Faf92FDa4fD7EC4f51e