• Crypto Prices
    • CoinDesk Market Index
    • TV & Videos
    • Newsletters
    • Podcasts
    • WhiteLayersIconConsensus Magazine
    • Learn
    • Bitcoin Calculator
    • Consensus
    • Webinars
    • Indices
    • About
    • Markets
    • Companies
    • Technology
    • Web3
    • Policy
    • Sponsored Content
    Upcoming event
    Consensus 2023 Nav BarSave $600+ on Consensus!
  • TV & Videos

    TV & Videos

    • First Mover
    • The Hash
    • All About Bitcoin
    • Money Reimagined
    • Community Crypto
    • Consensus 22 Videos
    • View all shows

    Watch On

    • Twitter

      Twitter

    • Facebook

      Facebook

  • Newsletters

    Sign up for our newsletters

    Learn More
    UncheckedCheckbox

    The Airdrop

    Your weekly wrap of Web3 news and trends.

    UncheckedCheckbox

    Crypto Investing Course

    Be a smarter, safer investor in eight weeks.

    UncheckedCheckbox

    The Node

    The biggest crypto news and ideas of the day.

    UncheckedCheckbox

    First Mover

    The latest moves in crypto markets, in context.

    UncheckedCheckbox

    Money Reimagined

    The transformation of value in the digital age.

    UncheckedCheckbox

    Crypto Long & Short

    News and analysis for the professional investor.

    UncheckedCheckbox

    State of Crypto

    Probing the intersection of crypto and government.

    UncheckedCheckbox

    Valid Points

    How Ethereum's evolution impacts crypto markets.

    UncheckedCheckbox

    Crypto for Advisors

    What financial advisors need to know about crypto.

    By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy.

  • Podcasts

    Podcasts

    • The Hash
    • Markets Daily
    • Money Reimagined
    • The Breakdown, With NLW
    • Carpe Consensus
Coindesk Logo
  • Consensus

    Consensus

    • Go to Consensus 2023 Site
    • Consensus 2022 Videos
    • Powered By Consensus Content
  • Indices

    Indices

    • Bitcoin Price Index (XBX)
    • Ether Price Index (ETX)
    • Basic Attention Token Price Index (BTX)
    • Bitcoin Cash Price Index (BCX)
    • Cardano Price Index (ADX)

  • Crypto Prices
  • CoinDesk Market Index

  • TV & Videos
  • Newsletters
  • Podcasts
  • WhiteLayersIconConsensus Magazine
  • Learn
  • Bitcoin Calculator
  • Consensus
  • Webinars
  • Indices
  • About

  • Markets
  • Companies
  • Technology
  • Web3
  • Policy

  • Sponsored ContentChevrone Right Icon

Upcoming event
Consensus 2023 Nav BarSave $600+ on Consensus!
  • Markets

    Markets

    • Bitcoin
    • Ether
    • Altcoins
    • Trading
    • First Mover
  • Companies

    Companies

    • FTX Downfall: Full Coverage
    • Celsius
    • NFTs
    • Terra
    • Business
  • Policy

    Policy

    • Regulation
    • Crypto
    • Sanctions
    • SEC
    • Law
  • Technology

    Technology

    • Blockchains
    • Ethereum
    • DeFi
    • Stablecoins
    • Hacks
  • Web3

    Web3

    • Yuga Labs
    • NFTs
    • Metaverse
    • Dao
    • Gaming
  • Learn

    Learn

    • NFTs
    • Bitcoin
    • Ethereum
    • Cryptocurrency
    • Investing

    Crash Courses

    • Bitcoin 101
    • DeFi 101
    • Ethereum 101
    • NFT 101
    • Price Data 101
  • Consensus Magazine

    Consensus Magazine

    • Crypto 2023
    • Most Influential
    • Tax Week
    • Trading Week
    • IDEAS Week

    Most Recent Issue

    CoinDesk - Unknown
  • Sponsored Content

    Sponsored Content

    • Gate.US
    • abra
    • Matrixport
    • SocialGood
    • Tron
Bitcoin
$22,938.33-1.38%
Ethereum
$1,650.24-1.30%
Binance Coin
$327.90-1.57%
XRP
$0.39743769-1.52%
Binance USD
$0.99999844+0.01%
Aptos
$15.06-6.28%
Cardano
$0.39405700-1.29%
Dogecoin
$0.09009112-2.67%
Polygon
$1.30+2.79%
Stellar
$0.09092400-1.17%
Solana
$23.20-2.73%
Crypto.com
$0.08372844+1.31%
Shiba Inu
$0.00001374-4.35%
Polkadot
$6.75-2.79%
Litecoin
$99.21-1.71%
Chainlink
$7.13-1.02%
Uniswap
$6.81-2.58%
Avalanche
$20.07-3.66%
Tron
$0.06685022+1.64%
Cosmos
$15.14+1.14%
Wrapped Bitcoin
$22,933.35-1.43%
Quant
$139.57-2.01%
Ethereum Classic
$22.62-2.45%
Monero
$165.46-1.58%
dYdX
$2.91-7.92%
Stepn
$0.51366818-4.89%
Internet Computer
$5.72-1.80%
Lido DAO
$2.55-1.65%
Bitcoin Cash
$131.52-3.32%
NEAR Protocol
$2.64+6.21%
Curve DAO Token
$1.14+4.57%
ApeCoin
$5.74-3.54%
Algorand
$0.28942739+3.87%
Filecoin
$5.43-1.91%
Hedera
$0.07502147+0.29%
VeChain
$0.02570401-0.99%
Decentraland
$0.76679084-5.12%
The Graph
$0.17461190-15.14%
The Sandbox
$0.85161176-6.30%
Fantom
$0.52474382-10.49%
Aave
$86.90-2.16%
Axie Infinity
$11.93+2.42%
Luna Classic
$0.00018022-3.27%
EOS
$1.08-2.77%
Flow
$1.14-1.15%
Tezos
$1.23+0.67%
Elrond
$46.25-1.27%
Theta
$1.14-4.60%
Paxos Dollar
$0.99950000+0.12%
NEO
$9.19+0.55%
Synthetix
$2.68-8.46%
Chiliz
$0.15753564-2.28%
Bitcoin SV
$42.60-2.41%
Immutable X
$1.01-3.71%
PancakeSwap
$4.68+2.62%
Maker
$780.60-0.96%
eCash
$0.00003751-0.59%
BitTorrent
$0.00000075-0.50%
Dash
$63.87-2.95%
Mina
$0.82420229-4.43%
IOTA
$0.24567828-2.19%
FTX Token
$1.95-4.53%
Convex Finance
$6.39-3.81%
Zcash
$45.19-3.48%
Optimism
$2.76-9.04%
THORChain
$1.88-3.59%
Compound
$55.97-2.16%
Enjin
$0.50144909-2.48%
PAX Gold
$1,860.59-0.06%
Fetch.ai
$0.47634931-12.33%
Zilliqa
$0.03062012-0.39%
Loopring
$0.37292588-5.07%
Basic Attention Token
$0.29914100-0.36%
Terra 2.0/LUNA
$2.05-4.32%
Stacks
$0.31495611+0.83%
Nexo
$0.74734264-3.40%
Woo Network
$0.25347221+2.65%
Mask Network
$4.13-7.42%
Kava.io
$1.01-2.26%
Celo
$0.83718112+2.57%
Ethereum Name Service
$15.34-4.53%
Gala
$0.05202410-6.51%
Ravencoin
$0.03151215-3.56%
NEM
$0.04139956-3.05%
Oasis Network
$0.07187875+13.00%
Sushiswap
$1.44-4.17%
Decred
$23.81-2.85%
Kusama
$37.07-0.27%
Bitcoin Gold
$16.94-3.73%
IoTeX
$0.03351593-2.90%
Qtum
$2.92-1.58%
Injective Protocol
$3.73-9.93%
Audius
$0.29251468-5.28%
Moonbeam
$0.50828934+5.58%
TerraUSD
$0.02903987-7.85%
Yearn Finance
$7,722.42-1.91%
Amp
$0.00492383-3.13%
Band Protocol
$2.22-1.13%
Waves
$2.72-3.73%
Ribbon Finance
$0.25775723+0.01%
0x
$0.25517011-2.23%
Livepeer
$10.20-1.36%
Siacoin
$0.00488881+10.31%
Ankr
$0.03063268-1.76%
UMA Protocol
$2.15-1.07%
OMG Network
$1.69-0.10%
Celsius
$0.55838751+1.31%
ICON
$0.23015178-2.77%
NuCypher
$0.15943225-1.52%
Polymath Network
$0.19303289-1.58%
MetisDAO
$34.89-3.31%
Wax
$0.07954150-3.06%
DigiByte
$0.01105452-3.78%
Cartesi
$0.17681600+0.36%
SafePal
$0.53364422-7.27%
Skale
$0.04063550-5.99%
Secret
$0.85618848+6.06%
Lisk
$1.10-5.73%
SXP
$0.31534450-2.91%
Voyager Token
$0.51626577+2.09%
iExec RLC
$2.08-7.58%
Numeraire
$22.21-9.78%
Smooth Love Potion
$0.00329736-5.00%
Nervos Network
$0.00384997-2.04%
Civic
$0.12674155+4.56%
Nano
$0.88210813-1.70%
Aragon
$2.96-3.40%
Spell Token
$0.00084714-1.79%
Chromia
$0.20681407+5.55%
Syscoin
$0.17137887-1.13%
Keep Network
$0.20739542-4.56%
COTI
$0.09872335-4.52%
Vulcan Forged PYR
$4.35-3.97%
Ren
$0.09702262-6.63%
Serum
$0.36706838-6.28%
MOBOX
$0.58405203-4.88%
Joe
$0.27036554-3.82%
Request
$0.11838788+3.21%
Bancor
$0.47804746-3.43%
XYO Network
$0.00714000+1.82%
Steem
$0.22710211-2.45%
WazirX
$0.19152395-1.86%
Augur
$7.90-3.08%
Alchemy Pay
$0.01738709-7.02%
NKN
$0.11874437-3.17%
Ampleforth Governance
$4.31+5.39%
Stormx
$0.00695166+7.65%
Storj
$0.44008600-3.50%
Yield Guild Games
$0.33144186-7.62%
Orchid
$0.09875096-3.27%
Sun Token
$0.00637660-3.57%
Moonriver
$9.69+1.98%
Verge
$0.00330890+1.32%
Polkastarter
$0.46895832-1.52%
Alpaca Finance
$0.29594043+0.43%
Raydium
$0.29151969-8.27%
Index Chain
$0.05633249-2.52%
Enzyme
$25.37-3.19%
JasmyCoin
$0.00753294-5.38%
CLV
$0.07835454-3.41%
district0x
$0.04139018-10.98%
Quickswap
$60.07+1.79%
Samoyedcoin
$0.00474847+1.15%
Mirror Protocol
$0.17055600-2.77%
Harvest Finance
$39.69-0.83%
Kyber Network
$0.91589326-0.54%
SuperRare
$0.15987571-7.47%
Quantstamp
$0.01629000-0.12%
Star Atlas DAO
$0.33660570-5.52%
SingularDTV
$0.000402100.00%
Tether
$0.99999959-0.00%
USD Coin
$0.99991780-0.01%
Dai
$0.99955261-0.00%
PlayIconNav
Crypto Prices CoinDesk Market Index
CoinDesk - Unknown

Sponsored Content

CoinDesk - Unknown

Putting Web 3 in the Picture

AccessTimeIconApr 18, 2022
Facebook iconLinkedin iconTwitter icon
CoinDesk - Unknown

CoinDesk Staff

Putting Web 3 in the Picture

Web 3 has the potential to radically change current business structures across multiple sectors. Common problems, such as monopolistic rent seeking (manipulating for profit), high barriers to entry and rapacious fee structures will be torn down by a peer-to-peer model that is fueled by tokens. Cutting out middlemen will unleash a wave of commerce and creativity that could be as energizing as the Industrial Revolution.

Take photography. Every 30 seconds there are as many photographs taken around the world as there were in the entire 19th century. The digital provision of stock content – photos and videos - for websites, films, magazines, presentations or any other use case is a $4 billion a year business. It is dominated by just two traditional Web 2 companies that take up to 85% in fees from both buyer and seller.

This model means the two providers are the only real buyers for content creators. They are also the only real sellers to institutions, such as media agencies and TV producers, who want to buy stock media. They have the curious distinction of being both a monopoly and a monopsony at the same time.

This is all going to change. Using blockchain technology a new platform called Envision is facilitating the peer-to-peer exchange of stock content where content creators sell directly to the buyer. This avoids the hefty fees and the forfeiting of copyrights, as is the case now. Within the creators’ portal, photographers and videographers upload directly to the content marketplace, setting their own price for their own content. This gives power back to the creator and takes it away from the middleman, all while providing the buyers with better-quality content at a fraction of the price. Envision has plans to partner with the largest media buyers in the world, who will use Envision’s VIS token to purchase media.

What makes this different from one middleman being replaced by a new platform is the use of Web3 technology – namely tokens, blockchain and smart contracts. Envision will exchange stock content for its VIS native ERC-20 token. Because the smart contract within the ERC-20 verifies the transaction on the blockchain platform and hands over ownership automatically, it eliminates the need for inconvenient ownership contracts and paperwork. Instead, it keeps a digital record and proof of authenticity and decentralized payment settlement.

Furthermore, each piece of content will be accompanied by a non-fungible token (NFT) which corresponds to that specific piece of content. The NFT will provide proof of ownership, which is validated by participants on the network so there can be no dispute over who owns the rights to said content. The functionality of NFTs gives the content creator the control to either sell complete ownership rights, rights to one in a limited collection or single rights to one of many. Once a user has the account verified, he or she is free to buy/sell/trade in a completely decentralized fashion. Meanwhile, the VIS token will be distributed for rewards used in exchange for content rights and used to receive staking rewards.

Envision will launch the VIS token presale on April 19 on EktaChain, a new rapidly growing layer 1, or base, ecosystem that aims to bridge blockchain with the physical world. The VIS token will be available on Uniswap shortly after the Ekta presale concludes.


Logo of BTCBTC$22,938.33
1.38%
Logo of ETHETH$1,650.24
1.30%
Logo of BNBBNB$327.90
1.57%
Logo of XRPXRP$0.39743769
1.52%
Logo of BUSDBUSD$0.99999844
0.01%

View All Prices

Sign up for Crypto for Advisors, our weekly newsletter defining crypto, digital assets and the future of finance.
By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our terms of services and privacy policy.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

CoinDesk Staff


Logo of BTCBTC$22,938.33
1.38%
Logo of ETHETH$1,650.24
1.30%
Logo of BNBBNB$327.90
1.57%
Logo of XRPXRP$0.39743769
1.52%
Logo of BUSDBUSD$0.99999844
0.01%

View All Prices
Coindesk Logo

About

AboutMastheadContributorsCareersCompany News

Stay Updated

ConsensusNewslettersFollow

Get In Touch

Contact UsAdvertiseAccessibility HelpSitemap

The Fine Print

Ethics PolicyPrivacyTerms Of UseDo Not Sell My Personal Information

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

©2022 CoinDesk

Twitter iconFacebook iconLinkedin iconRSS Logo
TikTokIcon