As our communication gets increasingly visual, the global stock image market is turning into a busy place.
Just recently 500px, a large and promising community of photographers, has been acquired by VCG, a Chinese image licensing giant that is slowly taking over the market in Asia and beyond, following a long-established trend for industry consolidation that doesn't necessarily benefit content creators. In 2016, VCG took over Corbis in a similar expansive move, leaving a subsidiary citizen photojournalism agency completely in the dark regarding their due royalties for over a year. VCG claimed their trouble was due to lack of ownership data, as they were unable to match images to their creators. The old ways of managing visual content have not only been proven inefficient — they've also been used as shady excuses.
Read the details in the article of Coinidol dot com, the world blockchain news outlet:
https://coinidol.com/blockchain-is-conquering-global-stock-image-market/
