The future of stock media.
Envision was founded by creators, for creators out of frustration and a desire to return control, revenue and independence web2 solutions have kept from stock media creators for too long.
What is Stock Media?
Stock media takes many forms, still images, videos, visual effects etc. What makes this content stock is the intended use. Typically, stock media hasn’t been created for any specific need or project and can be used many times over for different projects. The use case for stock media is very broad and can be found in anything from Hollywood films, documentaries, marketing/ PR campaigns, advertisements, publications, etc. Annually over $4b USD worth of stock media is purchased, a number that is growing year on year. As our world becomes more digital, our media viewing increases and is trending away from still images and towards moving visuals as streaming services dominate screen time.
What is the problem with existing solutions?
Currently content creators are reliant on large centralised providers to purchase their content outright. The creator is forced to forfeit ownership rights leaving them with no control over how the content is sold or for how much. This leaves a situation where content creators are forced to sell the rights at significantly lower prices than what that piece of content may end up generating, in some cases this can be as little as 15%.
How is Envision solving this issue?
Deriving utility from NFT and blockchain technology, Envision facilitates the peer to peer exchange of stock media content where creators market and sell direct to consumers, avoiding hefty fees, clunky contracts and the need to forfeit rights as per current Web2 solutions.
Deployed to the Polygon blockchain, the Envision Stock platform will act as a tailored NFT marketplace with the UI/UX specifically for the purchase and sale of stock media.
Creators upload content (photos & videos) and mint an ‘Original/Exclusive’ NFT for each individual piece of content, providing ownership of copyright which is held in their web3 wallet.
Creators have two listing options for content:
SELL LICENCED COPY
A new licensed NFT is minted at point of purchase and there is no limit to number of copies that can be purchased.
The Original Exclusive NFT is transferred to purchaser and creator now no longer owns copyright or legal ownership.