Wemark is the blockchain-based marketplace for digital content.
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 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. Wemark is a VC-backed startup based in Israel and San Francisco developing a blockchain-based distribution system for digital content, implementing our concept of the “distributed marketplace”.
The first use-case is Wemark.com - a distributed marketplace for stock photography. Stock photography is a super-centralized $4B industry, with agencies like Shutterstock and Getty Images controlling much of the market. Because customers have a relationship with the agency, and not directly with the photographer, stock photo agencies have developed a critical mass of customers. This leaves photographers with limited alternatives but to give most of the rights, control, and earnings from their photos to these agencies.
The first distributed marketplace (Wemark.com) allows photographers to reach a global audience, while still keeping most of the benefits reserved for distributing their content without a middleman. 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.
Digital content is one of the most centralized markets that exist. There are hundreds of millions of creators and customers, yet - less than 100 companies control the majority of digital content distribution.
Starting with photos, Wemark is changing the way content marketplaces are built.
Photographers keep all the rights to their content
All licenses are issued directly through the Wemark protocol. Wemark is eligible to distribute the content, but cannot sell or license it without the protocol. The times when creators had to trust marketplace to license their content and report back their earnings are over.
Photographers control the pricing of their photos
Wemark will introduce different pricing options and tiers. Content cannot be licensed without the photographer’s approval on price and tier.
Photographers keep much more of their revenue
No surprises. Wemark sets a new standard with 85% royalty payment to photographers – 5 times higher than the industry average of 15-20%. If we decide to decrease our royalty-rate in the future, it will never affect existing photographers without their consent – their distribution terms are immutable as part of the Wemark protocol/
Photographers benefit from higher transparency
Wemark’s distributed marketplace approach guarantees, by design, full transparency regarding all payments, licenses and revenue distribution. The protocol will ensure the privacy of customers, while providing a way for photographers to identify copyright infringement, license overuse, use of their photos that should be restricted and other license violations.
Photographers will be able to trust the system
The blockchain-based protocol is immutable and autonomous. No one can manipulate the system – the code that operates it will be public and open-sourced. This creates a new level of trust in digital content distribution - everyone trusts everyone else because the system does not require trust to operate.
|Round||Token Price||Bonus||Min / Max Purchase||Soft Cap||Hard Cap|
Np TGE —
|0.000042 ETH||5% - 12%||0.2 ETH - 250 ETH||3,250 ETH||16,750 ETH|
16 Jul 10:00 UTC
23 Jul 10:00 UTC
|NA||20% - 25%||-||Uncapped||Uncapped|
Early Deposits —
09 Jul 10:00 UTC
16 Jul 10:00 UTC
|NA||25% - 30%||-||Uncapped||Uncapped|
Based on the % of funds raised out of the hard cap at the moment of the contribution:
20% bonus + 5% additional bonuses for contributions over 10 ETH.Early Deposits
25% bonus tokens + 5% additional bonuses for contributions over 10 ETH.
Completing pre-seed fundraising of $1M from leading seed-stage VC's in the US and Israel. The team joins NFX accelerator program - a $150M fund that specializes in marketplaces and network effects.
Launching a waiting list for early contributors. More than 1,500 professional photographers signed up in the first few weeks.
Wemark launches its very first product - enabling photographers to create a profile, verify their identity and submit images for review. Thousands of photographers signed up with over 20,000 submitted images.
Announcing the first advisors to join the company's advisory board, including Lars Perkins (founder of Picasa - now Google Photos), Keren Sachs (former content director at Shutterstock) and Lee Torrens (marketplace lead at Canva).
Announcing exclusive strategic partnerships with the world's largest content providers in stock photography, including Getty Images top provider - "Caia", with over 20,000 premium images submitted to Wemark.
Wemark launches a new TGE website, releases the Whitepaper and announces final details for the TGE.
The whitelisting for Wemark Tokens sale will start on May 7th at 12pm PDT. The sale will last two weeks, starting from July 24th.
Wemark.com will be launched in alpha as a fully-working marketplace, including transactions, licensing and payment distribution.
Launching an early customers program - "Wemark Pioneers". The program is aimed at designers and journalists from leading advertising/design firms, top brand in-house design studios and renouned publications. Participants will receive special platform perks, fully-guided onboarding process and of course, lots of Wemark swag as gratitude for their support.
Introducing one or more payment methods for customers other than Wemark Tokens, including credit cards, wire transfer, BTC, ETH and others. All new payment methods will be aimed at assisting customers with purchasing WMK - the only compatible token on the Wemark Protocol.
Wemark.com will be launched in beta - improving search and UX and presenting a convincing and wide collection of curated photos, all ready for licensing directly from their creators.
Supporting new types of digital content such as Illustrations, vectors, video, stock music and 3D models.