The spherical world of digital contents such as music, games, photography, 3D models, animation etc have been booming with remarkable speed over the years. In the year 2017, Spotify a marketplace for music lovers and musicians generated a revenue of £4 billion, Steam a marketplace for gamers and game developers realized a revenue of $4.3 billion while Getty images and Shutterstock market places for photography generated $836.8 million and $557.1million respectively.
After reading such mouth watering figures, you definitely will be thinking the creators of this digital contents will be living in the easy street but sadly, research shows it hasn't been a life of luxury for these creators most notably the digital photographers.
Over the years they have been a depressed frown upon the faces of photographers owing to the fact that the digital photo market place have been centralized by two companies; Getty images and Shutterstock. This centralization has resulted to an unfair distribution funds, 85% for these agencies while a measly 15% for the photographers. In the quest to monetize their photos, photographers also loose the rights of the photos to these agencies. Well things are about to change with the birth of a company called Wemark.
Wemark Digital Ltd is a company founded in Tel Aviv Israel and is bent on giving digital content creators a one of a kind platform that will allow direct transactions of contents between creators and costumers without any intervention of a middle-man. This company is powered on blockchain technology called Ethereum and would start the ball rolling on its mission to decentralize the digital marketplace by creating a platform for stock photography.
With Wemark, photographers would be permitted to sell and share their work directly with the right audience without loosing the right to their work and also there will be no intervention of any middleman. In this unique platform prices of photos will range from $0.5 - $500. Photographers will pocket 85% of the photo price while Wemark will graciously keep 15% beside that, there will also be incentives for members who use and share the platform.
This marketplace (Wemark) with the help of a Smart Contract will enable transparency and security of transactions. Photographers can keep track of their content after sale, so there is no worry of copyright. In terms of Payment, this will be done on the company's very own crypto currency known as Wemark Token. This token can be traded with any other type of cryptocurrency. Interestingly on this platform, payment with credit card is on the pipeline.
Wemark is founded by Tai kaish , Pavel Elkind and Roy Meirom, men with years of in depth knowledge on digital marketing, entrepreneurship, software engineering and business administration. A well balanced team you have to concur.
Surprisingly, Wemark already has a lot of photographers already signed up. It may interest you to know that a huge proportion of these photographers are from Shutterstock and Getty Images and they are already sharing and selling more than 200,000 photographs swiftly and transparently .
Well if you're professional photographer or you just have passion for photography, sign up at Wemark and market your photos to the World.
Questions regarding this innovative platform, Wemark are welcomed from our esteemed readers.
Additional information on Wemark can be gotten from their Telegram group or from their ANN/Bounty threads.
Next up : Business Opportunities with Wemark
Thank you so much for this excellent article, Sarah!
One of my incomes is stock photography, I've been selling photos and some footage via a dozen of stock sites, with the major one being Shutterstock and iStock, of course :) I just created my account at Wemark and uploaded few images. Fingers crossed it works a charm! :)
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Thisbis good news for any co tent producer. Come on guys...leta do this 😁
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Yeah it is, a whopping 85% going to you now, no more worries 😀
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That's good news indeed. Where can I learn more Bout Wemark? Do they have a whitepaper ready ?
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You can learn more about wemark from their website, and yes they have a Whitepaper, check it out here
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Wemark got good potentials and is able to compete with centralized photo banks, as it provides more advantages to the authors. Higher income due to low commission, preservation of all rights to the sold content and issuance of licenses directly to customers open up more opportunities for the authors.
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Wemark is positioning themselves to generate a healthy revenue while also empowering content creators and increasing their bottom line substantially. Taking a centralized bottleneck industry and giving the returns back to the people doing the work, really an excellent use case of the blockchain.
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It should be said that the prospects for the project are really great. But everything, as always, depends on the project team. It is also worth noting that the advisers of Wemark are pretty well-known personalities. I believe that such a platform is really necessary for the stock photo market, which clearly stands still.
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