Wemark ICO Review: Blockchain-Based Marketplace for Digital ContentJul 23, 2018, 12:18PM
Wemark is designed as a decentralized marketplace for digital content that allows peer to peer transactions between content creators and users.
The Wemark platform uses blockchain technology to allow decentralized, peer-to-peer transactions between digital content creators and users. It ensures security, authenticity, and transparency in one of the most centralized markets: digital media. There are millions of creators and customers, but the majority of digital content distribution is controlled by less than 100 companies. Using Wemark, photographers and creators can benefit from the blockchain technology by directly licensing their photos and creations to the customers across the world.
Wemark is starting out by working with stock photography. The $4B stock photography market is at present controlled by two entities: Shutterstock and Getty Images, which impose substantial commission fees on creators' earnings. With Wemark, photographers will keep much more of their revenue and rights to their content, while the users or customers will have better photos at better prices. Photographers can now save up to 75% in fees as compared to the fees charged by the existing stock photography agencies.
Wemark ICO Details:
Pre-Sale: 09 July 2018 - 23 July 2018
Token Sale: 24 July 2018 - 07 Aug 2018
Soft Cap: 3,250 ETH (~1.4 million USD)
Hard Cap: 16,750 ETH (~7.4 million USD)
Accepted Currency: Ethereum (ETH)
ICO Price: 1 ETH = 2,375 WMK
Bonus: 0%-25% - 12% bonus
25%-50% - 8% bonus
50%-75% - 5% bonus
75%-100% - 0% bonus
Restricted Countries: No restrictions
Know Your Customer Required: Yes
Minimum Viable Product (MVP): Available
Whitelist Required: Yes
Wemark (WMK) Token Info:
Token Type: ERC20
Token Price: 0.000421 ETH (~ 0.2 USD)
Total Token Supply: 135,000,000 WMK
Token for Sale: 46,500,000 WMK (34.5%)
Wemark ICO Roadmap
Wemark's roadmap is stretched over a long period of time from May 2017 to Q1 2019. In May 2017, Wemark completed the pre-seed fundraising of $1M from leading seed-stage VC's in the US and Israel. In January 2018, the company launched "Wemark for Creators" Alpha Version. The final milestone of the roadmap would be completed with providing support for the new types of digital content such as illustrations, vectors, video, stock music and 3D models.
Wemark has a strong team that includes Tai Kaish, CEO & Co-Founder, Pavel Elkind, CTO & Co-Founder, and Roy Meirom, VP Business Development & Co-Founder. Advisors include a number of big names or industry veterans like Lars Perkins, former CEO & Founder of Picasa, Director at Google; Keren Sachs, former Director of Content Development at Shutterstock; Michael C. Lesser, former VP, and General Counsel at Shutterstock; and Gilon Miller, Co-Founder & CEO at Gurushots.
- Good business concept
- Strong and professional team
- Well-known and experienced advisory board
- Solid business potential
- Already $1 million funding in equity financing, proving a strong case that it is a legitimate and viable project
- A strong buzz on social media with a good following on Telegram, Twitter, etc.
- Tough competition in the digital content industry
- Lack of strong business planning
- Details of the financial plan are not available
- The whitepaper does not give specific details about the gains for investors
- Token allocation for the public is a bit low at 34.5%
- The overall volatility of the cryptocurrency markets as well as the sharp fluctuations in the value of the individual cryptocurrencies/coins
ICO Review Summary
The ICO offers good potential for investors if the project can create traction good enough to move the market for digital content to the envisioned decentralized blockchain-based marketplace. Wemark has received good coverage from reputable media. It seems to be a good project in the risky and scam fraught ICO and cryptocurrency space.
However, the digital content industry is highly competitive and the path of success for Wemark would be full of pitfalls. Thus, it would be a high reward high-risk proposition for investors, who will need to be cautious of investing in the ICO as it may not realize its projected potential.
More Info: Visit the Wemark website
This review was written by Surrendra S. who's qualifications include an MBA (Finance), MA (Economics), CAIIB, CPCM (Gold Medalist), and Business English Certificate Higher from University of Cambridge, UK. He has been writing and analyzing the cryptocurrency market, and was involved in writing 20 ICO whitepapers.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.