BitImage is a next generation digital media marketplace with decentralized content licensing. Find out how it works today in our review.
What Is Bitimage?
BitImage, found online at BitImage.io, is a smart open digital marketplace with unique features like decentralized content licensing.
Anyone can use the marketplace to trade, purchase, or search for unique digital media. BitImage uses artificial intelligence and blockchain technology to deliver relevant content to users as quickly as possible.
Specific types of content available on the BitImage platform include videos, images, graphics, and audio.
A pre-sale for BitImage tokens begins on April 26, 2018.
What Problems Does Bitimage Seek To Solve?
BitImage aims to disrupt today’s on-demand digital media marketplace. Today, the market is dominated by players like Shutterstock, GettyImages, and stock.adobe.com. These players offer on-demand media through centralized marketplaces.
Unfortunately, these centralized solutions lead to various issues, including all of the following:
- Copyright violations
- Tiring, lengthy searches for relevant media content
- Price monopolization
- High prices for customers and low royalties for authors
How Bitimage Blockchain Media Marketplace App Works
BitImage aims to create a blockchain-based marketplace for digital media content. That marketplace will include features like decentralized content licensing, cryptocurrency-based payments, and artificial intelligence.
First, BitImage will use decentralized content licensing and blockchain technology to allow authors to protect their content safely. Customers, at the same time, can guarantee the uniqueness of purchased works.
The use of cryptocurrency eliminates a layer of centralized financial intermediaries. There’s no need for a centralized payment processor that takes a hefty fee, for example. This reduces commissions and increases payments to users. That means businesses pay less for digital media content while artists generate more money.
BitImage also uses artificial intelligence to verify media content uploaded to the platform. AI will scan the content for uniqueness, for example, then add relevant tags and analytics for the content within minutes of upload.
BitImage will also have on-demand work implementation, allowing buyers to order new unique content fast.
The end result of these solutions is the creation of a free market economy where the price of content is determined individually. Artists can make more money for their digital content while businesses can ensure they’re buying unique content at a fair market price.
The alpha version is already available for Android today. You can check out the APK file from BitImage.io. An iOS version is scheduled to launch in the near future.
Decentralized Content Licensing:
BitImage provides decentralized content licensing built on blockchain technology. This allows authors to protect their copyright safely. Customers, meanwhile, can guarantee the uniqueness of their purchased works.
AI checks and validates digital media posted onto the BitImage platform. AI also provides analytics about trending content while helping categorize media. This saves time for authors while increasing their income.
On-Demand Work Implementation:
Post a job with any requirements then receive turn-key content. No other similar service offers on-demand work implementation like this.
BitImage aims to be 100% trustworthy, with all transactions guaranteed by transparent smart contracts. Transactions on BitImage are safe, immutable, and confidential with automated fulfillment of terms.
Simplified Payment Processing:
Money transfers are decentralized and processed over the Ethereum blockchain. BitImage’s native token, the BIM, is an ERC20 token. That means it can be easily transferred at a fraction of the cost of traditional payment solutions. Banks and third party financial organizations are excluded from the BitImage transaction process, which means minimal transaction fees with the same level of security.
Set Your Own Pricing:
Content creators can set their own price on the platform. You can sell digital media by your own rules, for your own price, in your own way.
How Do Bitimage Tokens Work?
BitImage tokens, or BIM, are ERC20 tokens on the Ethereum blockchain.
BIM tokens are required to purchase or exchange digital media content on the platform.
As mentioned above, one of the goals of BitImage is to reduce transaction costs, allowing companies to pay less for digital media and allowing artists to earn more. One of the ways to achieve that goal is to implement a unique payment processing solution – like the BIM cryptocurrency. This reduces transaction costs across the platform, eliminating the need for a centralized financial intermediary or payment processor.
Bitimage BIM Token ICO Details
There’s a total supply of 10 billion BIM tokens. BitImage has set a hard cap of $21 million for its token sale. You can buy tokens in exchange for ETH.
BitImage will have two sale rounds, including a $3 million and $18 million sale round. During the token sale, the exchange rate is set at 1 ETH = 100,000 BIM.
Of the total supply of tokens, 10% is allocated to the pre-sale, 52% to the crowdsale, 18% to the team, 10% to a reserve fund, 6% for bounties, and 4% for advisors and partners.
The token pre-sale for BIM tokens begins on April 26, 2018, with the crowdsale lasting into July.
Who’s Behind Bitimage?
The BitImage team was formed in July 2017. Throughout the end of 2017 and beginning of 2018, the team worked on the protocol and design. An MVP was launched before the end of Q4 2017, with a public alpha version available for iOS starting in 2018. The goal is to launch the full iOS and Android application before the end of 2018.
Key members of the BitImage team include Kyrylo Iusov (Director and Founder), Xenia Sokolova (Head of Operations), Andrii Holovin (iOS Developer), Bohdan Nikitan (Head of Development), and Oleh Romanenchuk (Android Developer).
BitImage is registered in the Seychelles, although the team is mostly based in Ukraine.
BitImage aims to disrupt today’s digital media marketplaces by launching a blockchain-based solution. That blockchain-based solution will use a digital currency called BIM to reduce transaction costs. Content creators can set their own prices on videos, images, graphics, and audio content. All transactions are secured by transparent smart contracts, with uniqueness of content verified by artificial intelligence.
To learn more about BitImage and how it works, visit online today at BitImage.io.