The Photochain is a platform on which artists have the opportunity to sell their work to a broad audience at a price they set themselves, and where sellers are also fully and solely liable for the works they sell themselves. The Photochain Team does not have any liability or responsibility for illegal behaviour from the sellers. This means that the artist is responsible for the legality of the works he is selling, and is held fully accountable for any illegal activity. Photochain however, will uphold users copyright protection, by preventing unauthorised sale of photography.
Currently there aren’t many options available to an artist (e.g. a photographer or designer) who wants to earn money in a fair way from selling their digital work. This is particularly concerning for amateur photographers and hobby artists who have not yet attained a high level of name recognition, which would enable them to sell their works at higher prices. For this group of artists, there are stock photography platforms such as Shutterstock and Adobe Stock available. Although artists can reach lots of potential buyers by putting their digital works on these platforms, they only receive a tiny percentage of the sales price,. Photo stocks can receive up to 90% of the profit margin. Also, the platforms are characterised by stringent requirements concerning the conditions of participation for sellers.
Photochain DApp as a Solution to the Artist’s Problems
By developing the Photochain platform, they present the possibility for artists to sell their works directly to their customers, and on their own terms. Photochain is a decentralised platform that uses Smart Contracts based on the Ethereum blockchain. When a sale is made, the seller is paid, and the buyer receives the purchased picture simultaneously. This is all mediated by the smart contracts Thus, Photochain does not require a centralised authority to ensure the correctness of transactions. This reliability is inherently contained in the blockchain technology, and the Photochain platform has been designed from the ground up to solve the problems of traditional stock photography platforms. On top of this, machine learning is employed as solutions to the other problems photostocks exhibit and the wisdom of the community overses the platform as a whole
Photochain Token – PHOTON
The PHT token is based on the following core properties:
- Name: PHOTON Token (PHT)
- Standard: Ethereum ERC20
- Hard Cap: 230,000,000 PHT token to be issued
- Release date: Their Token Generation Event will take place right after the end of the Main Sale Event. It may take up to 60 days to distribute the PHOTON tokens to contributors
They are forming partnerships in the area of token liquidity and they plan to cooperate with projects such as Monaco to offer payment options into the Photochain ecosystem also using fiat currency. This functionality is especially intended for users that are not yet fully comfortable with cryptoassests, making it easier for them to get started.