Overview

Wemark is the blockchain-based marketplace for digital content.

Project stage

Prototype

Detailed description

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.

Problem

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.

Content marketplaces and agencies are much stronger than individual creators and customers. Creators are usually forced to give up:
  • A large part of their revenue
  • Transparency and control
  • >Most of the rights over their content.

Solution

Starting with photos, Wemark is changing the way content marketplaces are built.

  • Direct Licensing - Creators license their content directly to customers while keeping all the rights to their content and maintaining control over its price.
  • Immutable Distribution Terms - Mutually agreed terms are registered on the blockchain and become immutable.
  • Automatic Payment Distribution - The blockchain becomes the new middleman - automatically managing and distributing payments with full transparency.
  • Referral Program - Getting others familiarized with Wemark and promoting content on the platform will be automatically rewarded by the protocol.

Features

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.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : WMK
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 16,750 ETH
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :3,250 ETH
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :135,000,000 WMK
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :46,575,000 WMK
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, Iran, Iraq, Israel, Lebanon, North Korea, Syria, USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Team & Advisors: Locked for use or transfer and will be released gradually over a 12 months vesting period
          • Partnerships: Locked for use or transfer and will be released gradually over a 12 months vesting period

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Np TGE — Ended
    Start Soon
    0.000042 ETH 5% - 12% 0.2 ETH - 250 ETH 3,250 ETH 16,750 ETH
    Deposits — Ended
    16 Jul 10:00 UTC
    23 Jul 10:00 UTC
    NA 20% - 25% - Uncapped Uncapped
    Early Deposits — Ended
    09 Jul 10:00 UTC
    16 Jul 10:00 UTC
    NA 25% - 30% - Uncapped Uncapped
    Np TGE

    Based on the % of funds raised out of the hard cap at the moment of the contribution: 

    • 0%-25% raised - 12% bonus 
    • 25%-50% raised - 8% bonus 
    • 50%-75% raised - 5% bonus 
    • 75%-100% raised - 0% bonus.
    Deposits

    20% bonus + 5% additional bonuses for contributions over 10 ETH.

    Early Deposits

    25% bonus tokens + 5% additional bonuses for contributions over 10 ETH.

    Read more about vesting and bonus
    • Team

      • Tai Kaish photo
        Tai Kaish
        CEO & Co-founder
      • Pavel Elkind photo
        Pavel Elkind
        CEO & Co-founder
      • Roy Meirom photo
        Roy Meirom
        VP Business Development & Co-founder
      • Tomer Gabbai photo
        Tomer Gabbai
        Lead Front-End
      • Barak Simon photo
        Barak Simon
        Lead Back-End
      • Adam Wolski photo
        Adam Wolski
        Full-Stack Developer
      • Chen Feldman photo
        Chen Feldman
        Full-Stack Developer
      • Ohad Peled photo
        Ohad Peled
        UX/UI Lead
      • Shenhav Yehuda photo
        Shenhav Yehuda
        Marketing Director
      • Or Twig photo
        Or Twig
        Crypto Marketing Specialist
      • Sophia Danziger photo
        Sophia Danziger
        Marketing Intern
    • Advisors

      • Lars Perkins
        Investor, Advisor, Entrepreneur. Ex-Google, Idealab
      • Keren Sachs
        Visual Content + Strategy Consultant, Advisor
      • Michael C. Lesser
        General Counsel / VP
      • Miguel Forbes
        Co-Founder of Forbes.com
      • Lee Torrens
        Marketplace Director at Canva
      • Gilon Miller
        Founder & CEO, GuruShots
      • James Currier
        Managing Partner at NFX Guild
      • Gigi Levy-Weiss
        Founding Partner at NFX
      • Ram Avissar
        Founder of BITSME
      • James Waugh
        Mechanism Design & Token Economics
      • Yan Pritzker
        Tech Advisor and Investor
      • Amir Feder
        Machine Learning and NLP Researcher
      • Philippe Bouaziz
        Chairman
      • Ran Oz
        Co-founder and CEO EquityX
      • Raphael Yahalom
        Affiliated Researcher at MIT
      • Lior Prosor
        General Partner at New
      • Ari Shpanya
        Founder Slice RE
      • Dov Greenbaum
        Professor of Law & Director of The Zvi Meitar Institute

    Roadmap

    • May 2017
      Raising A Pre-Seed Round And Joining Silicon Valley Accelerator "NFX"

      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.

    • Sep 2017
      Launching The Creator Waiting List

      Launching a waiting list for early contributors. More than 1,500 professional photographers signed up in the first few weeks.

    • Jan 2018
      Launching "Wemark For Creators" Alpha Version

      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.

    • Feb 2018
      Announcing Wemark's Advisory Board

      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).

    • Mar 2018
      Announcing First Content Partners

      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.

    • Apr 2018
      Releasing Wemark's Whitepaper

      Wemark launches a new TGE website, releases the Whitepaper and announces final details for the TGE.

    • May-Aug 2018
      Token Generation Event (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.

    • Jul 2018
      Launching Wemark.Com Alpha Version

      Wemark.com will be launched in alpha as a fully-working marketplace, including transactions, licensing and payment distribution.

    • Q3 2018
      Launching Wemark Pioneers - Wemark's Early Customer Program

      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.

    • Q4 2018
      Supporting New Payment Methods

      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.

    • Q4 2018
      Launching Wemark.Com Beta Version

      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.

    • Q1 2019
      Supporting New Types Of Content

      Supporting new types of digital content such as Illustrations, vectors, video, stock music and 3D models.

    Activity