The blockchain is now helping the artists to earn money as it is driving the stock photography marketplace and by that, it is providing the customers to link with the buyers directly. It is bridging the gap between the customers and the artists and helping them to showcase their talent to a much wider audience.
It was very hard for the artist to survive because of the centrally controlled nature of the industry as by the regulation the company who sold the painting took almost 85% of the revenue leaving behind a small amount for the artists. This system was not benefiting the artists in any way. Blockchain now comes in the picture to help bridge the gap and give the artist their share which they truly deserve.
Shutterstock Causing Harm To The Photographers
An American stock photography company Shutterstock which deals with stock footage, stock music, and editing tools situated in New York City. It has the largest collection of over 200 million images which is giving a tough competition to the photographers in the market to stand out against the company.
Wemark Helping Hand Towards Photographers
Wemark with the help of Blockchain is bridging the gap between the customers and the photographers. In the digital content industry, Wemark has seen the demands for the photographers and they have also seen their pain at the same time, which brings this concept to bring both of them closer by using blockchain. It will give them the platform to establish new relations with each other, license photos to businesses without any broker involved, and maintain the transparency at the same time.
According to Tai Kaish, CEO of WeMark told in one of the interviews that the photographers are left with nothing in return and also they don’t have control and transparency too so this concept needs to be revised and thus it introduces the use of Digital Content licensing which bridges the gap between the photographers and customers.
More Than A Million Images Offered By Wemark With The Help Of Partnership
Wemark has already 1,300,000 images in the trail alpha version and it claims to have over million commercial photographs to choose from. This whole concept is supported by the partnership with the companies like Cavan, Monkey Business, and Caia Image. Their images collection top the sale rankings of Shutterstock.
This is a milestone for WeMark. Most of the world’s leading photography companies have contributed images that no one has ever seen. This will be the future according to Keren Sachs the former director of WeMark and it will be a benchmark for all the competitors. It was said in one of the conferences. It will directly deal with the customer in terms of payments and all the transactions.
Blockchain As A New Middleman
This new protocol of introducing the blockchain in the stock marketplace will replace all the agencies from the line and will be providing transparency between the customers and the photographers. According to the WeMark, the blockchain becomes a middleman that would eliminate the third parties and will give enough rights to the photographers to earn decent money which they truly deserve. It will show the clear picture to the customers and will be profiting both the customers and photographers. Images can be licensed and downloaded in forms of the token on the platform.