Wemark | The Future of Stock Photos
As people move further and further towards decentralization, stock photos, a market widely known for its high prices and extensive copyright protection has now begun moved away from middleman companies such as Getty and Shutterstock, and more towards independent decentralization with ICOs such as Wemark.
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What is Wemark?
Wemark is an ICO hoping to disrupt the stock market industry by removing middlemen companies and the insane (sometimes up to 85%) fees they impose over users selling photos. By removing these fees, photographers are able to sell their content to a wider audience for a cheaper price, possibly even raising their own profit slightly while reducing the cost for the buyer exponentially.
Wait, how does this relate to the blockchain?
Wemark uses the Ethereum blockchain to host and manage transactions. They use Ethereum Smart Contracts to ensure the transaction is immutable and secure for both the buyer and seller. All actions of buying and selling are done through an unbiased "middleman" that is the blockchain, taking just enough of a fee to send the transaction.
Wait, where will the photos be stored?
For the moment, all photos will be stored on an Amazon Web Services instance, giving access only to the creator and lawful licensees of the content, however, once decentralized storage becomes more commonplace and trustable, Wemark will migrate to storing their photos there.
All in all, Wemark looks like it has a lot of potential to take over the Stock Photos industry in its current ICO phase, however remember it is just that. An ICO.Be careful investing anything into ICOs, and make sure you do your own research when investing! You can find more information on their website
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