12 Jul 2018

Wemark (WMK) ICO Review

The amount of digital content, such as photos, music, and video has exploded in recent years. However, it has become a super-centralized market with a small number of companies controlling the majority of the distribution. This means that creators must sign away rights and control over their content, along with a large percentage of the revenue their content is generating, in order to participate. Distributed marketplaces allow creators to license their content directly to customers, keeping them in full control of the rights to their content.

As a photographer, you probably have two ambitions: to use your craft every day and make a decent living out it. Sure, you’ve sold a few photographs in local shops or craft fairs here and there, but the income is more like a bonus than a sustainable wage. Your trusty camera enables you to indulge your hobby, but that’s about it.

Photography is a wonderfully expressive form of art, practiced by millions of people worldwide with varying degrees of success.

The first use case introduced by the project is in the field of stock photography. This is an industry which is expected to exceed a grand total of $4 billion by 2020.

Through the implementation of blockchain-based technology, the project attempts to solve a few of the major issues in current centralized solutions such as Getty Images and Shutterstock are facing.

The lack of middle-men will help reduce the price of the final product for consumers, while photographers would be able to earn more from their work as Wemark promises to enable them to keep as much as 85% of the sale price of their photos.

As the Wemark Protocol is based off the blockchain of Ethereum, it guarantees a new level of transparency. All of the transactions and licenses shall be registered on a public distributed ledger.

Basic Information

Token
WMK
Price
1 ETH = 2,375 WMK
Platform
Ethereum
Accepting
ETH
Soft cap
3,250 ETH
Hard cap
16,750 ETH
Country
Israel
Whitelist/KYC
KYC & Whitelist


Whenever a content creator spends his time and money to create something original, he expects a quality price for his work. There are some agencies that help the photographers in selling their pictures. These agencies take a big share of the price they charge for the photographs. The photographers lose a lot of money because of this. Wemark only uses the protocol of centralized agencies to maintain a fair transaction between the buyer and content creator. 

The requirement of the third party gets eliminated completely that’s what provides the content creators with the best price for their work. This approach not only helps the photographers in gaining a fair share for their work but also reduces the price of photographs and other products. The buyer and seller can use the tokens to make a fair transaction and that’s how no transaction fee is charged. 

Assuring peer-to-peer transactions:

This platform is implementing the blockchain technology to provide the users with peer-to-peer transactions. It means, the creator can receive the payment quickly from the consumer. It will assure authenticity, security, and transparency of the payment. World’s leading investors are supporting this platform. The leading stock photography experts, online marketing experts, and blockchain technology are the members of the advisory board. They all work together to make this platform a perfect place for buying and selling the photographs and other media content.

Team

Wemark boasts a rather strong team of experts. The executives and founders of the project aren’t shining with some stellar previous positions but they all have relevant as well as strong experience. The good thing is that they cover a spectrum of fields. While the CEO Tai Kaish has over a decade of digital marketing and growth hacking experience, their CTO Pavel Elkind is an expert in R&D. The lead front-end developer Tomer Gabbai is amongst the former core developers of Wix’s editor, which is amongst the most prominent web apps even up to this date.

It’s also important to note that their board of advisors is also quite prominent. It includes former Google directors, Shutterstock and Canva executives and other experts who certainly have a lot to offer.

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