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.
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
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…