Nanda Crypto: Photochain-revolution in stock photos

212121.jpg At present there are not so many options for an artist (for example, a photographer or designer) to earn money from the sale of his work. This is especially true of amateur photographers and artists who have not yet reached a high level, which would allow them to sell their works at higher prices. For this group of artists there are platforms, such as Shutterstock and Adobe Stock. These platforms can also be called microstocks.

Although artists can attract many potential buyers by placing their digital works on these platforms, they receive only a small percentage of the sale. In addition, the platforms are characterized by strict requirements regarding the terms of participation for sellers. Because of these difficult conditions, the artist is obliged to publish a significant number of images in the hope of being able to compete.

Other problems for the seller include the fact that it's impossible to set your own price, long waiting times for content verification, a large number of failures to work on platforms, and long periods of time between payments.

We will consider such a platform as Photochain.

Photochain uses blockchain technology to create photoshoots around buyers and sellers

By developing the Photochain platform, they enabled artists to sell their work directly to their customers and on their own terms. Photochain is a decentralized platform that uses smart contracts based on blockchain Ethereum. Smart Contracts provides security for transactions on the platform. When the sale is made, the seller is paid, and the buyer simultaneously acquires the purchased image. All this is mediated by intellectual contracts. Thus, Photochain does not require centralized authority to ensure the correctness of transactions. This reliability is inherently contained in blockchain technology, and the Photochain platform is designed from the ground up to solve the problems of traditional photo platforms. In addition, machine learning is used as solutions to other problems exhibited by photostocks, and the wisdom of the community controls the platform as a whole.

Photochain gives clear advantages over conventional photos for both types of users: participants and customers. Co-authors in Photochain receive an extremely low fee - only 5% of the sales price. This ability to save 95% of the final selling price allows investors to offer their work cheaper, and therefore the market becomes more accessible to customers. This type of fair market not only benefits users, but also benefits the photography industry as a whole, since the opportunity to increase revenue stimulates participants to work better.

These profound changes in the market can be done only with the use of blockchain technology, Smart Contracts, machine learning and the own user community of Photochain. Most processes become automated and decentralized, which significantly reduces the cost of managing the platform. Inevitably, there are more and more participants and customers who prefer to use Photochain.

The development of the Photochain platform is an ambitious and organically developing process. The main objectives for the project are threefold:

1) Search

It is very important for us that only the artist can determine the value of his work and give them the opportunity to offer their work to a large number of potential buyers. The platform provides this capability, which is implemented using Blockchain technology and machine learning.

2) Cryptoeconomics

The Photochain platform attracts a wide audience, which currently does not use blockchain and crypto currency technologies. The relational use of "Photochain" will appeal to this audience. Easy-to-use graphical interface and trading processes make it easy to onboarding and support Crypto Economy as the main one.

3) Chain of copyrights for the photo chip: DCC

During the project, more and more artists will be able to strengthen their copyright on the Photochain platform, as their work will be associated with their name. This link appears as a transaction in the Ethereum block chain and is therefore always available to all users. This means that the artist's responsibility for the image can be taken into account. The database with all the links shown was built in a decentralized way. They call this DCC database.

First they will present the characteristics of the microstock market of photography, as this is a significant part of the digital trade works.

Photo microstock is an ever growing industry, which can be determined by the following key points:

• Sales through the Internet

• The relatively simple adoption of amateur photographers in contrast to traditional photo-editing agencies

• The cheapest price is from $ 0.20 to $ 50.00 for licensed (RF) image licenses

The securities market is currently divided between several key players, such as Shutterstock, Adobe Adobe, Adobe Getty Images and several other smaller platforms. Approximate annual turnover of this market is currently about 2 billion dollars. According to Technavio analysis, by 2020 the market turnover will grow to $ 4 billion.

PHOTON Token is a means of reward in Photochain Ecosystem and represents the symbolism of digital visual works.

Token Name: PHOTON Token (PHT)

Standard: Ethereum ERC20

Max Supply (Hard Cap): 230.000.000

Release date: released after crowdfunding

Represented value: tokenization of digital visual works

Distribution of tokens

79% Crowdsale

11% Team and management

7% Bounty and Partners

3% Lawyers and consultants

Revenue Usage