Pix.T: The Blockchain-Driven Marketplace (Round 6)
Summary
Pix.T aims to create a vast new marketplace at the service of both photojournalism and online news operations. Turning the digital-print dichotomy on its head, it will build an innovative e-commerce platform powered by blockchain technology to manage the licensing rights of digital images and scale the selling of limited edition prints to the mass market of digital news readership.
The solution
The direct monetary value of a digital photograph is approaching 0.0. The shift to online news consumption has put the craft and mission of photojournalism at existential risk, surviving for now on dwindling print-side budgets and NGO and corporate clients. Photojournalism urgently needs new business models that reconnect it with the digital news industry and creates real revenue for both.