IPStock announces Pre-ICO launch of its blockchain ecosystem for Global Stock Images Market
IPStock, run by Geneva based company Intellectual Property Depository and Management(IPDM) that has developed a unique fintech platform for visual digital assets, has announced today the launch of pre-ICO for its blockchain registry of visual digital content copyrights.
The team of IPDM have worked in the Global Stock Image market for over 5 years. They has successfully created the world’s #1 ranked portfolio of vector images Macrovector, world’s most popular cloud service for photographers and artists IPSTOCK.COM, and a premium marketplace for vector illustrations Vectorplace.com.
The new IPStock solution is a blockchain ecosystem designed for all marketplaces, content creators and consumers, content registry on blockchain and license management through smart-contracts. It will be the first solution in the market to give access to both exclusive and royalty free content licenses. The solution addresses the global stock images market which includes photos, illustrations, videos and other visual content, with projected market size of more than $10bln by 2022 where players buy and sell copyright licenses.
According to the business model, all the content market participants will get the opportunity to enter the market with protected copyrights and licenses; will get cost efficient access to both non-exclusive and exclusive content with transparent history and flexible options and will allow content producers to save time and money used to build and maintain their own content databases and instead focus on creating great products for their customers.
The IPStock solution will significantly change the copyright market landscape and finally make this market as transparent and efficient as it should be.
“The main problem of The Global Stock Images Market which includes photos, illustrations, videos and other digital visual content is non-transparent, risky and inefficient market. Each agency has its own isolated and non-transparent database. Acting as a middleman, these agencies take up to 70% commission from each royalty payment. On the other side, the demand for the visual content is steadily growing by 7–10% in recent years and the turnover of the content market is estimated to be around $4–6 billion this year. So we believe that blockchain can disrupt and completely change the industry dominated by several big players such as Shutterstock, Adobe Stock and Getty Images”, said IPStock co-founder and IPDM Director Yuri Emelin.
Alexander Belenkiy, IPStock co-founder and Head of Legal & Compliance adds: “Nowadays on the market there are no universal source of copyright proof, no authenticity guarantees, no licensing history, no reliable protection from lawsuits. Each agency has its own isolated and non-transparent stock images database. Decentralized system on blockchain will make it easy to control content copyrights & authenticity, manage licenses and avoid legal risks”.
Askold Romanov, IPStock co-founder and CTO: “Our cloud service IPStock.com has been successfully used by thousands of creative artists around the world for the last two years to manage their visual content portfolios on dozens of marketplaces and stock agencies. By adding copyrights registry on blockchain and license management with smart-contracts to the existing platform we create an open and transparent ecosystem with benefits for all market participants: content providers, consumers and agencies and will become an integral part of the market infrastructure. Besides blockchain the project already utilizes big data and computer vision technologies to provide the world’s best cloud service for its users”.
New digital content market with IPStock:
1. Full control including the authenticity confirmation and control of plagiarism
2. Centralized uploading, management and license tracking with smart-contracts
3. Flexible management of license options for customer’s needs with smart-contracts
4. Сomplete and transparent transaction history
5. Registering and confirming subsidiary rights (items based on other items or its combinations)
6. Royalties distribution taking into account subsidiary copyrights as well
7. Full (or partial) commercial rights/copyrights transfer transactions support
You can get more details in the attached whitepaper and website about disruption the project will bring to the whole industry.
IPStock will make it a better world.
About Intellectual Property Depository and Management (brand “IPStock”)
The company was set up in 2015 aimed at managing investments in the digital content market in the interests of financial investors. By developing and implementing innovative technologies, the company serves as an accelerator in the development of the market of investments in intellectual property assets. IPDM is owned by Singapore investment company IP INVEST and Geneva cantonal innovation investment fund FONGIT.