Wemark ICO interview

Disclaimer: for the ICO section we have developed a short Q&A with ICO representatives. All answers are presented exactly as offered. The content of the answers is not altered in any way and is the sole responsibility of the ICO representatives. At the end of the interview, you will find a rating that is given by our team, taking into consideration different factors. We consider projects rated above 8 as good projects, however we strongly advise you do your own research, as our website does not contain financial advice.

Name and position of the person responding: Shenhav Yehuda, Marketing Director
ICO website: https://tge.wemark.com
Whitepaper URL: https://www.wemark.com/whitepaper
Restricted countries:
Wemark’s whitelist is open to anyone, excluding entrants from China, North Korea, Iran, Iraq, Syria, Lebanon, Israel and the United States. However, accredited investors from the United States and Israel can request to participate.
Soft cap (USD): 1.500.000
Hard cap (USD): 8.000.000
Token Sale start date: 7/16/2018
Token Sale end date: 7/27/2018

Describe your ICO project in one paragraph: Starting with photos, Wemark is building a blockchain-based marketplace for digital content. The $4B stock photography market is currently controlled by Shutterstock and Getty Images which take up to 85% of what creators earn.
With Wemark, creators license their content directly to customers over the blockchain. They keep much more of their revenue and rights to their content, while customers get access to better photos at better prices.

 How is your project different than other ICOs announced recently?

✔ VC-backed startup with over $1M in equity funding
✔ Top digital industry advisors including the founder of Picasa (Google photos); the co-founder of Forbes.com, former executives from Shutterstock and Canva; and more
✔ Working product with over 1,000,000 submitted images and thousands of photographers
✔ Exclusive partnerships with leading images contributors: Caia image, Cavan Images, MonkeyBusiness, MintImages, The Good Brigade

Is your token an utility token? What is its utility? Wemark is introducing a dedicated token to empower a direct economy for digital content. Wemark Tokens, or WMK, will serve as a native payment system for the network, and reward all the relevant parties for creating, distributing and promoting digital content. Wemark Tokens will enable direct licensing of content between creators and customers, with no 3rd party or intermediary involved in the process.

Does your ICO currently have partnerships or strategic relationships with other companies or organizations? After announcing partnerships with Caia Image and Cavan Images earlier this year, we’re proud to reveal more than 5 new content partners. These expertly curated collections include Monkey Business Images, Mint Images, The Good Brigade, Glasshouse Images, India Pictures, Maskot, and a few other collections we’ll be announcing soon. These are some of the most well-known and widely used sources of premium images among top publishers, advertising agencies and big brands alike. + We are Launching collaborations with esteemed photographer communities like Gurushots and Viewbug .

How do you plan to use the funds in developing the project? (Ex. 40% R&D, 20 marketing, 40% pizza) The main use of proceeds will be for R&D (in order to develop the protocol and its first use case – Wemark’s marketplace for stock photos) and for marketing & business Development efforts (which will aid in for acquiring customers and kickstarting the economy). We believe that companies shouldn’t raise their lifetime’s funding in their early-days, but rather in stages according to their project’s stage and accomplishments. Therefore, we decided to set the TGE’s hard cap at a relatively low figure of 16,750ETH, and a relatively high figure for the company’s reserve.

 

As a conclusion, here are TokenCouncil’s ratings:
Project idea: 10
Token utility: 9
Partnerships/real world usage: 8
Overall media buzz: 8
Communication channels and openness: 10
FINAL SCORE 9.0