Value Proposition

Wemark is developing a blockchain-based distribution system for digital content, implementing our concept of the “distributed marketplace”. Distributed marketplaces allow creators to license their content directly to customers, keeping them in full control of the rights to their content.

In other words, Wemark is building a platform that will empower content creators — without the need of middle-men. Their first use-case will be creating a marketplace for stock photography; an industry that will exceed $4B by 2020.

There are a couple of problems with the current centralized solutions (Shutterstock, Getty Images, etc.). First and foremost, most content creators work with agencies and have to give up rights on their content in order to monetize it. Secondly, these agencies (and centralized platforms) take a huge cut from content creators (up to 85%), leaving them with very little. Unfortunately, as there isn’t enough competition, players in the space are monopolizing it and have free reign to do as they like.

Wemark aims to solve this issue by giving creators back their rights and control over their content with addition to minimizing fees (the proposed fee currently stands at 15%).

Customers will be able to license curated, commercial photos directly from leading photographers. Innovative discovery, collaboration, and curation tools also improve the ability for customers to ﬁnd and manage the content that they need.

As a matter of fact, Wemark has already launched their stock photography platform a few weeks ago, featuring over 3,000 contributors and 40,000 photos, including some of the industry’s leading content providers.

This is a space that certainly requires an overhaul. I believe that Blockchain and Cryptocurrencies will be able to revolutionize this industry, so Wemark is off to a good start.