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Downsides of traditional stock photo platforms and the perfect solution

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Downsides of traditional stock photo platforms and the perfect solution

Let’s do a little role-play. 

Character No 1: a photographer.

Say you’re a struggling (or an established) photographer that is looking to earn some money from your content. Your first idea may be to try selling it on a stock photo platform, such as Shutterstock, Getty Images, Deposit Photos, and others.

They license photographs for specific purposes. Every time someone purchases a photo from a stock media platform, the photographer gets a certain share of the revenue. The amount of this share is set by each platform and listed in its terms.

Character No 2: a customer.

Now let’s say you want to buy a photo (or more) to use in various kinds of marketing and business-related projects. Whatever you need, chances are, you’ll find it on a stock photo platform.

Sounds like a sweet deal, doesn’t it? 

It is for the platforms. Not so much for the creators and end-users.

A not-so-pretty picture

Despite seeming like a convenient way to get their hands on some nice-looking photos, traditional stock photo platforms carry some disadvantages that may not be obvious at first glance. These downsides include:

1) Mounting costs

Stock photography pricing is often complicated for the buyer and can get out of control if they’re not careful. Depending on how they want to use the photo(s), the prices can add up quite quickly. Sometimes, these prices may even come close to what a photographer would charge to go out and take photos themselves.

The trouble begins with the licensing fees, which can end up being very high depending on the quality of the image(s) and how often the customer is planning on using it/them. Some licenses even have time limitations, so after a certain period, they’re worthless to the user or require additional payments to continue using the photos.

Some of the popular stock photo platforms offer subscription-based pricing models which vary in price and length (e.g. monthly, bimonthly, annual, and so on). Unfortunately, they are limited to a certain number of photographs the user can download, which is why they’re not such a good idea if they need hundreds. On top of that, the price of subscription packages grows with the longer duration and the need for a higher number of photographs.

So if the customer suddenly realizes their already purchased subscription isn’t enough for their needs after all, they will have to cash out for a bigger, longer, and more expensive plan.

2) Commercial use limitations

Sometimes, the end-user has to adhere to some pretty restrictive rules in terms of using the stock photos. Usually, these rules are listed in some very fine print so the user has to make sure to read all the license restrictions carefully and fully understand them before purchasing.

This is especially true if they’re planning on using stock photographs for advertising as some photos are only allowed for editorial use and not marketing purposes. They may also not be able to use the stock photos on products they plan to resell, like mugs and T-shirts they designed (yes, even though they designed them).

If they want to use these photos in items for resale, they will have to get an extended (and typically more expensive) license. Here and here you can check out the typical license types offered and restrictions on stock photo purchases imposed by a traditional stock photo platform. 

3) Less creator control means less revenue

Currently, listing on large centralized stock photo platforms is the only way for photographers to get their content published and earn some income from it. Unfortunately, by doing so, they are forced to give up their ownership rights over them, losing control over how the photos are sold and priced.

As a result, photographers are selling their ownership rights at prices that are substantially lower than what the photo may actually end up generating. The flashy claims of billions of $$$ paid to contributors paint the wrong picture. In fact, the photographer may receive as little as 15% of the total revenue generated by their content.

One of the examples of this is Shutterstock. Introduced in 2020, its new earnings structure (the old one wasn’t very lucrative for photographers to begin with) slashed content creators’ earnings by half or more. Currently, you start by earning only 15% of the image price. For a photo selling for $12, this means you’ll only earn $1.80.

The company increases your earnings to 20% after 100 of your photos are sold. If you hope to earn at least 35% from your photographs, you’ll have to wait for this number to surpass 2,500. Other platforms have similar rates.

Such difficult starting positions and hard-to-reach thresholds are often enough to drive away many photographers with great potential.

Building blocks of better stock photo future

So what could be the ideal solution to the problems plaguing the stock photo market? 

The answer is simple – blockchain.. And for many good reasons. 

Using the peer-to-peer exchange system facilitated by this technology would allows content creators to sell directly to the consumer on a one-stop stock content marketplace. Such a system is already in development by Envision.

This way, the outdated centralized middle-man is removed from the equation, which also removes hefty fees and the need for the creator to forfeit their ownership rights. Finally, the power can be placed back into the hands of content creators who can set the pricing of their content themselves and receive the full commission – right where it belongs.

For the buyer, this means a more straightforward procedure and the assurance that the costs won’t spiral out of control.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Famous Futuristic George Gilder Weighs BSV Over BTC at Summit

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Bitcoin (BTC) Prices Hold Steady After a Severe Turmoil
  • The Summit is held annually to help investors discover new market trends.
  • Gilder highlighted the advantages of BSV over BTC to the current issues.

As per renowned futuristic George Gilder, a “dynamic Bitcoin” that has “really created a miracle in recent months,” BSV is on the verge of becoming the de facto standard for all global currency in the next five to ten years. The Famous futurist gave an online “Six Predictions Summit” presentation to a group of financial experts, highlighting the advantages of BSV over BTC as the answer to the current economic and technical issues.

Framework for New World Order Required

According to Gilder, “immutable, unhackable” Bitcoin and the blockchain have produced freedom from political control currency. “Dual hacking crises” (technology hacking and economic hacking) affect today’s globe. Still, they may be addressed by establishing a new global economy and laying a framework for new world order.

The Six Predictions Summit is held annually to help investors discover new market trends. Due to current travel and other constraints, this year’s event was hosted online instead of in person. Renowned investing trend spotters Jim Rickards, James Altucher, Ray Blanco, Zach Scheidt, and Alan Knuckman joined hosts Doug Hill and Matt Insley on the show.

George Gilder has referenced Bitcoin’s “digital gold” myth at several points. Aside from noting that “the original Bitcoin, BTC” and Bitcoin Satoshi’s Vision or BSV are distinct, he reaffirmed gold’s usefulness as a long-term store of wealth.

Gilder said:

“Bitcoin Satoshi Vision has really created a miracle in recent months, rather than the static Bitcoin, which people hold on for dear life. It’s a dynamic Bitcoin that moves with the advance of technology.”

Despite the fact he called BTC “Bitcoin”, “the original Bitcoin” was not the answer he was talking about. The asset was regarded by him as being of no use to anybody except speculators, terming it as static.

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Is the Future of Real Estate in the Metaverse?

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Is the Future of Real Estate in the Metaverse?

Although the metaverse is not a new concept, it has recently gained much more attention. Many are now becoming familiar with the idea, and are looking into what its future offers and how they can be a part of it. The metaverse will completely transform the current way of life for the average individual, affecting work, trade, entertainment, leisure, exercise, social interactions, and everything in between.

Apart from the retail players, big tech companies are also getting into the space. Facebook, the world’s most popular social media platform as of 2021, has recently rebranded to “Meta”, showing its commitment to this new space. According to an official announcement, rebranding was necessary because the company is shifting its focus to bring the metaverse to life. Footwear and apparel giant Nike is also preparing for the metaverse and has signified interest in creating its own space, as well as Adidas, another powerhouse brand.

The metaverse will transform many aspects of life by improving interpersonal interactions, establishing communities, and helping businesses grow. The climate required to create and operate a successful business will also change considerably. Firstly, the metaverse will allow businesses, regardless of size, to establish digital stores for their goods and services. A significant advantage of these capabilities for the average company is that opening a physical store is no longer necessary. This could significantly reduce overhead costs without having to sacrifice customer reach. In a virtual world, a company can tap into wider audiences beyond the physical boundaries imposed in a real-life setting.

There are also multiple metaverse use cases for the entertainment sector. For example, entertainment brands could use metaverse locations to preview music to excite virtual fans, holding mega concerts to listeners around the world. Furthermore, fans may also get the chance to meet and interact with their favorite celebrities, an opportunity rarely possible in the real world.

Additionally, people can gather for leisure activities in virtual parks to play or bond over shared interests and ideas. These locations could replicate attractions available in the real world, engaging all different types of users in the process. For instance, people can build teams based on varying activities, including everything from traveling, virtual combat, or playing chess. The metaverse will offer a slew of new opportunities for individuals and brands alike.

One of the less obvious but very promising advantages of the metaverse is the opportunity to capitalize on virtual real estate. Regardless of sector or industry, the shift to the metaverse still requires individuals and businesses to establish a presence on the metaverse; this is where virtual real estate comes in and plays its part.

All metaverse offerings, including commerce, healthcare, entertainment, and other sectors, must set up shop somewhere in the metaverse to reach their desired base. Individuals can also invest in virtual properties for various reasons, In parallel to the traditional real estate market, Investors can earn profit by purchasing properties and leasing them to businesses and other franchises. Investors can also simply buy virtual properties, hold them into the future, and later flip them for a potential profit. With 500 million dollars sold just in real estate in the metaverse, last year projections state that it will double this year!

The key to making the best out of a real estate investment is getting in early. As with everything else, early buyers catch on quicker and are in a better position to make a profit if and when the value increases. Investors are able to pick their property at floor price in a strategic approach that will allow the potential for a larger profit as well as an easier sale just as investors do in the traditional real estate setting. Users looking to get into digital real estate in the metaverse can start their virtual portfolio and begin with Ethereum Towers.

Ethereum Towers

Ethereum Towers is a community-centric vertical megastructure set in the Ethereum Worlds metaverse. Consisting of 4,388 separate apartments, Ethereum Worlds is a major player in the space available to investors interested in taking an early chunk of the metaverse real estate market as it grows. The apartments in the structure are in two identical towers, each with 101 stories. Each apartment is an NFT on the Ethereum network and is available as an ERC-721 token.

All owners in the Ethereum Towers can use their apartments however they please. Each owner can personalize their space how they wish, giving them full autonomy over their digital real estate asset. For this, the Ethereum Towers offers a marketplace with a wide range of accessories, furnishings, and ornaments that owners can purchase and set as preferred. Since each apartment is available on the Ethereum blockchain as an NFT, ownership is guaranteed and easily verifiable.

Due to the deliberate design, Ethereum Towers apartment owners and guests can explore the social benefits of a large community with similar interests. All residents partake in a virtual social experience supported by meaningful interpersonal interactions. Each tower possesses communal areas where owners can meet and interact, regardless of any preconceived boundaries that would limit interaction in the physical world. Through these interactions, users can build a strong sense of belonging and establish friendships along the way.

Perhaps the most significant advantage to Ethereum Towers is the investment opportunity it offers. In the metaverse, unlike in the real world, digital property assets usually have a much lower entry barrier, making it much easier for interested investors to get involved before the masses. The value of the apartments are projected to increase over time as meta living becomes more popular, providing early adopters a chance to capitalize on being first movers.

Getting In Early

Investors that have been able to identify ideas that dramatically impact the functionality of the future have always prospered. Those who understand the impact and utility around the metaverse too will have a major headstart within the benefits that this realm will offer. With Facebook being one of the largest and most successful companies taking action to rebrand itself as “Meta,” this should give investors a clear idea that a new significant era is on the horizon.

 

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Popular Analyst Predicts Major Breakout for Ethereum (ETH) on the Cards

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Ethereum To Reach $20 Trillion by 2030 as per Ark Invest CEO Cathie Wood
  • Ethereum’s price has rebounded from a two-month decline in the last week.
  • Partisans are bullish on ETH 2.0 and are targeting a price of $8,000 shortly.

Since its January lows, the price of Ethereum has risen almost 50%. The Ethereum blockchains native token, Ether, has recently shown indications of resurgence. The altcoin is benefiting from several fundamental factors.

ETH/USDT: Source: TradingVIew

Ethereum’s price has rebounded from a two-month decline in the last week and has already reached the $3,000 mark. Cryptocurrency analyst Benjamin Cowen predicted a significant breakout for Ethereum (ETH) this week. According to him, the ETH price range between $2,000 and $4,000 represents a major re-accumulation zone for a medium-term runway of higher prices.

Upcoming ETH 2.0 Crucial

It’s also predicted that the network’s different offerings would show greener candles. Additionally, Partisans are bullish on ETH 2.0 and are targeting a price of $8,000 shortly. As the price of ETH continues to rise steadily, the fear and greed index for Ethereum weighs more heavily on the greed side of things.

Every obstacle on its path to the $3,200 mark on the daily chart has been overcome by Ethereum. Bulls are fully expecting the next price drop to be taken out by them. Aiming for the $3,600 level, investors have successfully crossed the 50 SMA and the bearish sloping line.

More than 45 percent of Ethereum’s value has been wiped off since its all-time high on November 10. Since its November high, Bitcoin, the world’s most valuable digital currency, has fallen by more than half. However, prices reversed their downward trend in February.

However, if pricing fails to hold above $2,800 in the next few trading days, we might witness a further decline below $2,400. According to CoinMarketCap, the Ethereum price today is $3,195.23 USD with a 24-hour trading volume of $13,485,593,739 USD. Ethereum has been up 3.84% in the last 24 hours.

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