Swiss based company IPStock announced an ICO launch as they worked hard in order to develop a comprehensive decentralized solution for visual content management. IPStock said that they want to create a blockchain-based ecosystem for cost-effective license management and copyright protection, supporting both exclusive and royalty-free content licenses.
This decentralized system should give the content complete control over their content copyright and authenticity. They are run by Intellectual Property Depository and Management (IPDM) who developed an innovative platform for visual digital assets with the goal of competing with major players in the visual digital industry.
The problem that content owners usually have is that they always have to make a choice either work through the middlemen that, of course, takes commissions, or trying to protect their copyright themselves on different marketplaces. Unfortunately, all existing databases are centralized, which makes the market non-transparent, inefficient, and expensive both for content makers and consumers. Decentralized blockchain marketplace for stock images means that sides have a lot to gain. Content providers can earn more royalties but they will also be able to manage and protect their copyrights through a single cloud solution.
Bear in mind, today’s 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. The demand for digital content is constantly growing, but, until now, there was no universal source of copyright proof, no authenticity guarantees, and no protection against lawsuits.
IPStock therefore uses a distributed registry to protect and confirm the rights of IP owners, while smart contracts help verify the terms of transacting IP rights. Owners of IPS, the platform’s token, can use it to pay the transactional and service fees.
IPStock ICO 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. There will be 30 million IPS tokens available for sale, with total supply restricted to 60 million IPS.