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Cryptocurrency is paving new avenues for content creators to explore

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Until you take the plunge and start to produce regular content which is displayed on the web for the world to read, you struggle to comprehend how much work goes into the formatting aspect of your piece. The images used form an integral part of your story which aims paints a picture in the mind of the reader, which lures them deeper into the content. We have to delve into the world of stock photography to find the perfect image and to make ensure that we also have a license to re-use someone else’s property.

This is where there is currently a huge grey area in the stock photography industry. Two giants (Shutterstock & Getty Images) currently dominate the sector and because their grip on the industry is so tight, they can claim 85% of the fee paid for an image. Which leaves the photographer, the creator of the asset, with just 15% of the fee for their hard work. An unfair method of distribution where essentially the intermediary is taking the Lion’s share of the profit.

Wemark is building a blockchain based content ecosystem which eliminates intermediaries and puts the control of the content back into the hands of the people that created it. Allowing photographers to retain the rights they have over their property and also most of the profit received for it.

The injection of blockchain technology allows for a seamless transition between parties. The owner defines all the details of the content sale and the platform integrate it to a smart contract. When a purchase is made, a smart contract is triggered and the payment is processed. This delivers the specified funds to the content creator and simultaneously delivers the content and the applicable rights for the content to the buyer. The purchase is recorded onto the Ethereum blockchain and is set as indisputable evidence for all parties to see. The blockchain is essentially removing all possibility for potential transaction disagreements. The autonomous protocol processes payments, issues and registers specific licenses on the blockchain and then provides access to the content for the customer.

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The Wemark platform is initially targeting the stock photograph sector but they are setting their sights on transforming content distribution industry across all applicable avenues. The initial platform designed specifically for photographers was launched a few weeks ago and has seen an overwhelming initial response from the community. Thousands of photographers have already signed up and submitted over 40,000 photos, which includes many of the best content providers who produce regular content on today’s major platforms. This allows photographers to establish and maintain their rights and ultimately make more revenue, doing what they love.

To avoid the one-sided ethos which has been a part of the industry for some time, the creators that use Wemark are also stakeholders of the platform. This means that they get paid in Wemark’s native cryptocurrency (WMK) and the value of their earnings within the platform may increase or decrease according to the growth and development of the platform.

The Wemark team has an impressive wealth of knowledge spanning throughout the industry. They also have what can only be described as an army of advisors by their side, heralding from many of the major players within the sector. Key names to note within the Wemark advisory board are Michael C. Lesser, who built and led the legal department at Shutterstock. Lars Perkins, who is the founder and former CEO of Picasa and also Keren Sachs, a former director of content development at Shutterstock. A plethora of industry leaders and VC’s have jumped on board the project to revolutionize a sector which is crying out for a shake-up. Which has been further aided by top VC’s in Israel, New York, and Silicon Valley. Definitely a project to bookmark.

Wemark have scheduled a token sale for the WMK token

When – The token sale will begin on June 7th, 2018 and is scheduled to end June 21st, 2018

Token – WMK

Price – $0.20

Supply – A total supply of 135 million tokens will be created, with a maximum number of 51 million (38%) tokens to be sold

Platform – Ethereum

Accepting – ETH

Hardcap – $8 million USD

A link to request the Wemark whitepaper

Where to participate in the Wemark ICO

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Dark Dwarf via Flickr

Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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