Stock picture market is sinister
“Good quality picture costs around 20 pounds. It happens that you buy a picture for a client and he changes his mind after showing it to his friend. Then you buy another one. So, you spend 40 pounds just on the pictures. But you can’t ask 70 or 80 pounds for a Facebook cover or a Google banner and usually, the client doesn’t cover photo costs. So, situations like that make you work almost for free.” – Says Deborah, working as a freelance designer in South Kensington.
Same goes for photographers, pages like Shutterstock take a very big commission on each photo, taking almost half from the price they sell. So the photographer is left with scraps and gets paid at the non-convenient time for him.
“I have been a travel photographer for nearly a decade. I am fully dedicated to traveling and the only thing I do for a living is photography. For me, giving up to 40% of my income to a stock market is ridiculous and getting paid after a long time span is very hard for me because I need funds to travel and create. But I have no other choice, the smaller marketplaces don’t have any traffic, and advertising on the free platforms did not bring me any result.“ – Marcus, who is currently traveling and taking pictures of the mountains of Argentina.
And there are more than designers and photographers. The whole industry of marketing and web development face the same issues. Therefore with the help of the market participants, a convenient and fair photo marketplace solution has been created. Before creating the full concept of Photochain, over 1000 market participants were interviewed – designers, illustrators, photographers, web designers and constant clients of the following service providers. All with one goal, to find out what’s missing on the market and delivering a game-changing solution.
Photochain already has over 2000 unique photographers ready to work with them by giving them 95% from the sale and making the payment instantly. Also, lowering the price to make it more attractive to designers, illustrators, and developers.
Instant payments are one of the most important issues to be fixed in the market. Ability to instantly buy the picture, with no costly subscriptions or liabilities to the marketplace and immediate cashout for photographers at any time they wish. It was achieved by implementing Tokia’s proprietary fiat to crypto payment processing technology to build an internal fiat (euro, dollar, etc.) and picture exchange. Tokia is a brand new concept of beginner-oriented cryptocurrency exchange with extremely low fees, very easy to use, quick crypto to fiat, fiat to crypto operations.
This means that you can purchase images from the Photochain marketplace using credit cards and wire transfer instantly, while photographers can cash out their earnings in euro or dollar any time. Integrating Tokia payment system allows everyone who wishes to participate in the blockchain digital imagery revolution that is disrupting the stock photography industry. “I truly believe in the project’s idea of a convenient blockchain-based photo market. We are very excited to work with this project and see the growth of Photochain. Can’t wait to see the launch of the marketplace!” – Nerijus Tilvikas, COO of Tokia exchange platform.
“We are still at the stage of setting it up, there are a lot of things that need to be done in order to make it flawless and competitive to other solutions on the market. We are delivering the fully functional platform just in few months. But even though the platform is not launched yet, Photochain has been spotted by many industry participants and we already have an unexpectedly big supporting community, who in the future, will be our contributors and customers.” – Dylan Sharkley, ex-Head of Sales Solutions at Linked In currently an advisor of Photochain.