Photochain – a decentralized stock photography platform for artists and photography enthusiasts alike.
The blockchain technology has given hundreds of businesses the opportunity to create a system wherein its consumers can transact directly, fairly and safely with one another. Not to mention, the thousands of dollars saved by entrepreneurs through the simple but innovative platforms they have built.
In the field of Digital Art, specifically in photography, many artworks were left unappreciated and wasted. And most of the artists ended up not making a dime out of their work. This is brought by limited capital for ads and promotions, offered profits from most centralized photostocks are too small, inability to set own pricing, high rejection rate from photo stock platforms and strenuous requirements to fulfill before you can start selling your work.
This is why Photochain developed a new platform for photostock. A new system that would allow professional photographers, amateurs, hobbyists and all digital artists to earn in a fair and safe way through a decentralized and Ethereum-based network.
Let’s take a closure look on what more it can offer to its users and see how they aim to change the traditional photostock system.
Advantages for both Contributors and Consumers
Higher Income at a Low Price The main objective of the platform is to provide a decentralized system for both consumers and artists to take advantage. In a normal photostock setting, artists cannot set their own pricing and at the same time often get a minimal percentage of the revenue. This will cause artists to hype up their prices to get at least a reasonable income from their works. Which also cause consumers to be at the losing end due to high-priced digital photos.
Through this blockchain-based platform, contributors will only be required a minimal fee of 5% of the selling price and receive 95% of the revenue. This would allow contributors to offer their work at a lower price because they can get a huge cut from the selling price. At the same time, this would benefit consumers for the price will be a bargain compared to centralized photostock groups.
P2P Marketplace Direct buying and selling between contributors and consumers is one of the main features of the platform. Wherein, artists can set their own terms during the sale.
Smart contracts will be facilitating the transactions, enabling the seller to be paid instantly and the buyer to receive the digital items immediately.
This simplified process of buy and sell through the use of the blockchain technology would allow each artist to freely determine the true value of their work and would have the chance to easily expand their market within the platform.
Digital Copyright ChainIn this platform, a decentralized copyright database will be used to protect each artist’s work. Machine learning bots will map the link between the artist and his artwork. This will prevent any removal and revisions on the digital photo’s link.
Photochain developed this four-stage program to detect and prevent copyright infringements:
- STEP 1: pHash – use of perceptual hashing algorithm. This will ensure that each work will only be in the system once and only from a single author. If in any case that another author would claim an already owned digital photo, the system will automatically void this action.
- STEP 2: Claim Report – every user has the right to file a claim for copyright infringements. Each claim should be backed by evidences that an infringement has been committed to consider as a valid claim. For example, use of downloaded stock photography, the plaintiff should provide the link that shows it is owned by another author. The algorithm will then determine if the work is genuinely owned by the contributor or not.
- STEP 3: Moderators – once the digital image has been detected by the algorithm as identical, ten community artists will manually review the work and will decide if it’s legitimate or not. These artists are considered as the moderators.
- STEP 4: Sanction and Appeal – after the review, if the contributor has been found committing a copyright infringement, the user account along with it’s funds will be frozen for three months. However, they may submit an appeal and will be subject for review by the Photochain governance.
Photon Token
Photon token will be circulating within the community to be used for rewards programs, access to services, and all other transactions being made in the platform.
Token Details
- Ticker: PHT (Photon)
- Standard: Ethereum ERC20
- Soft cap: 165,723,285 PHT
- Hard cap: 230,000,000 PHT
- Price: 1 PHT = 0.12 USD
- Minimum investment: 0.2 ETH
- Accepting: ETH, BTC
Token Allocations
- 79% - Token Sale.
- 14% - Management and Legal team.
- 4% - Adviser.
- 3% - Bounty.
Token Main Sale RoadMap
Community Sale
- Price: 1 PHT = 0.084 USD, 1 PHT = 0.072 USD (optional vesting period of 12 months)
- Start Date: April 6, 2018
- End Date: April 8, 2018
Braveheart Sale I
- Price: 1 PHT = 0.084 USD, 1 PHT = 0.080 USD (optional vesting period of 4 months)
- Start Date: April 9, 2018
- End Date: April 18, 2018
Braveheart Sale II
- Price: 1 PHT = 0.096 USD, 1 PHT = 0.090 USD (optional vesting period of 6 months)
- Start Date: April 19, 2018
- End Date: May 8, 2018
Remnant Sale I
- Price: 1 PHT = 0.108 USD, 1 PHT = 0.102 USD (optional vesting period of 8 months)
- Start Date: June 11, 2018
- End Date: June 20, 2018
Remnant Sale II
- Price: 1 PHT = 0.114 USD, 1 PHT = 0.108 USD (optional vesting period of 10 months)
- Start Date: June 21, 2018
- End Date: June 30, 2018
The Verdict
Photochain’s revolutionized stock photography platform is an ambitious project. Their aim to give more benefits to its users, especially to digital artists is very remarkable. If supported by many, this platform will not only uplift the value of each artwork but will also change the game within the stock photography community altogether.
For a much simpler, more secured and with a fair environment being offered, who wouldn’t be interested to have their work included in this platform? It’s highly likely will invite many users and contributors alike.
However, like any other blockchain-based platforms, leniency and consistency in implementing all the regulations and living up to the consumers’ expectations are the keys to achieve stability.
If you want to know more about Photochain and take advantage of their Main Sale discounts, please access the links below: