Premise
4.5/5 – Excellent
Wemark is a blockchain-based system for distribution of digital content. Its mission is to implement a “distributed marketplace”, allowing creators to fully license their content directly to their customers. This is intended to empower content creators and to keep them in full control of the intellectual rights to their own work.
By attempting to eliminate the need for middle-men, they aim to reduce the contents price, benefiting both parties substantially.
The first use case introduced by the project is in the field of stock photography. This is an industry which is expected to exceed a grand total of $4 billion by 2020.
Through the implementation of blockchain-based technology, the project attempts to solve a few of the major issues current centralized solutions such as Getty Images and Shutterstock are facing.
The lack of middle-men will help reduce the price of the final product for consumers, while photographers would be able to earn more from their work as Wemark promises to enable them to keep as much as 85% of the sale price of their photos.
As the Wemark Protocol is based off the blockchain of Ethereum, it guarantees a new level of transparency. All of the transactions and licenses shall be registered on a public distributed ledger.
Team
3.5/5 – Good
Wemark boasts a rather strong team of experts. The executives and founders of the project aren’t shining with some stellar previous positions but they all have relevant as well as strong experience. The good thing is that they cover a spectrum of fields. While the CEO Tai Kaish has over a decade of digital marketing and growth hacking experience, their CTO Pavel Elkind is an expert in R&D. The lead front-end developer Tomer Gabbai is amongst the former core developers of Wix’s editor, which is amongst the most prominent web apps even up to this date.
It’s also important to note that their board of advisors is also quite prominent. It includes former Google directors, Shutterstock and Canva executives and other experts who certainly have a lot to offer.
Token
4/5 – Very Good
The Wemark platform uses its own digital currency – Wemark Tokens. They are intended to be used as main medium of exchange on the platform. Users will also be able to sort all fees and payments with it.
Their token is ticked as WMK. It’s capped to a total supply of 135,000,000, which is always a good thing as it limits deflation. The difference between the project’s soft cap ($1,500,000) and the hard cap ($8,000,000) is not that serious which is a plus.
The token complies with the ERC20 standard, which is quite standard and it also shows that we are likely to see it listed on an exchange at some point. It will be selling for $0.20. The project intends to allocate a total of 38% throughout their Token Sale while holding only 11% for the employees and the founding team.
Risks
2.5/5 – Average
The space Wemark wants to occupy is one that truly needs an overhaul. Therefore, its chances of success might be quite substantial. However, the competition is also there and it’s formidable. Decentralized content distribution is a hot topic in the crypto field and projects such as Decent and Po.Et are already catching fire. With a relatively small community of 2,000 Telegram users and 2,000 Twitter followers, Wemark definitely has a lot of work ahead of itself.
Summary
Wemark seems like a well-thought out project with a good premise. With a solid team of experts, a firm idea and a market ripe for disruption, they might be eyeing a great future. However there is a still a few things which need to fall in place for it to be successful.
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