Earn by Selling Captured Moments with SliC Images
Davis aims to change this perception through blockchain technology. At the NBA All-Star Weekend in Salt Lake City, he plans to unveil SLiC Images, a rights management platform for photography and video, backed by NFT technology. This new platform is a subsidiary of Davis’s Sports Lifestyle in Culture, which facilitates the distribution and monetization of independent cultural content.
The problem with the current system, according to Davis, is that photographers often receive a raw deal from the corporations that profit from their work. Professional photographers may sell their work through image libraries and media outlets, but in doing so, they often forfeit future profits from their images. Independent photographers, on the other hand, have few opportunities to profit from their work while retaining ownership.
With SLiC Images, creators can tag their works with unique digital signatures and license them for commercial use for a specific timeframe via a transparent bidding process. This way, photographers can benefit from their work and maintain ownership.
This could find useful application for everyday people taking photos on their phone in the right place at the right time, and be able to access commercial opportunities through licensing them to news outlets of different kinds, or auctioning to private buyers or collectors.
Thanks to a $250,000 grant from NFT platform Mintbase, SLiC Images is now in development, and Davis is confident that blockchain technology can revolutionize the image licensing industry. The platform will utilize smart contracts to allow for split ownership and ensure that every party associated with a work continues to receive royalties generated by it upon every resale.
Although NFTs are central to the platform’s core function, Davis prefers to emphasize the product’s utility rather than its technical composition. He believes that a photo is a collectible item and that selling people a useful product is more important than explaining the technology behind it.
SLiC Images is not yet available, and its launch date has yet to be announced. However, Davis and Mintbase co-founder Nate Geier are hopeful to have a prototype ready to showcase at ETH Denver by the end of the month.