The global stock images market is estimated to generate an annual turnover of around $4 billion to $6 billion, and the amount is projected to exceed $10 billion by 2022. Designers, artists, and illustrators work hard to create unique photos, illustrations, and videos to satisfy the ever-growing demand for digital content, but to them it feels like surviving in the Wild West as there is no universal source of copyright proof, no authenticity guarantees, no licensing history, and no reliable protection against lawsuits.
Content owners have a tough choice to make: either put themselves in the hands of middlemen that pocket hefty commissions for each license and royalty payment or try to protect their copyright themselves on different marketplaces. To make a bad situation worse, all existing databases are centralized, which makes the market non-transparent, inefficient, and costly both for consumers and content providers.
IPStock offers the solution. It aims to create a comprehensive blockchain-based ecosystem for cost-effective license management and copyright protection, supporting both exclusive and royalty-free content licenses. The decentralized system will reinvent an industry dominated by big players through freeing the content creators from the middlemen and giving them complete control over their content copyright and authenticity.
IPStock uses a distributed registry to protect and confirm the rights of IP owners, while smart contracts help verify the terms of transacting IP rights. Thanks to big data technologies, the IPStock platform will be able to process millions of IP objects with hundreds of different attributes to provide full-scale analysis for the users. Owners of IPS, the platform’s native utility token, can use it to pay the transactional and service fees.
If you are interested in the project, join the upcoming IPStock ICO, which starts on March 1, 2018 and will last until April 30, or until the hard cap of 37,500 ETH or its equivalent is reached, whichever happens first. There will be only 30 million IPS tokens available for sale, with total supply restricted to 60 million IPS. For more details, you can refer to the IPStock official website or follow them on Twitter and Telegram for more updates.