Image Credit: Wemark
Wemark is a Blockchain-based marketplace for digital content based in Tel-Aviv, Israel. Using their token (WMK), users who wish to license their content are paid according to the conditions on the ‘smart contract,’ i.e. a series of pre-set rules which are not controlled by the marketplace or an individual entity.
A set of blockchain-based smart contracts automatically distributes payments to the parties involved under the unchangeable terms that were initially agreed upon by all. Ultimately, the blockchain becomes the indirect middleman transactions between creators and customers.
Following Wemark’s successful token sale that ended in August 2018 – they announced the launch of two new products on 29th January 2019 called Wemark Go and Wemark Impress.
Wemark Go is an affordably priced option for our everyday image needs. The model works on a membership basis. Buyers can download images when they need them, without bulk commitments and expiring, non-refundable & can pay as little as $0.27 to $0.95 per download.
Wemark Impress is a product for premium stock photography — a collection of images priced at $25-$500, primed and ready to license. It’s an alternative to the pricey premium collections launched by other platforms over the past few years, where photographers receive only a fraction of the revenue.
With the announcement, Wemark Token holders can now start licensing images on their platform. The next exciting milestone is credit card payments. All payments will be automatically converted to WMK and will eventually take place in tokens.
Wemark has paved the way for stock photographers to come on their platform with the help of WMK tokens. Wemark is looking to change the dynamics of stock photography by coming up with similar products soon.