Wemark is a digital marketplace for content creators. It allows them to license their content to consumers. Wemark has been developed in order to empower an exchange of digital content. Wemark utilizes a number of strategies for acquiring consumers and promoting the platform. Importantly, content producers retain rights to their content, which enables them to control prices and revenue streams, among other things.
Invictus Capital participated in the pre-sale, with a contribution of $250,000 USD.
Impairment of Investment - Q3 2019
Wemark concluded their token sale in July last year after successfully raising c. 7,500 ETH from the public. This was more than sufficient to cover operations for the first few years, however, due to the significant drop in the price of ETH, coupled with the hurdles Israeli companies face to convert their holdings to fiat, resulted in Wemark losing the majority of their raise in USD terms. Although the team had successfully launched their platform and were on track to reach the goals set out in their roadmap, the team unfortunately did not have the cash flow to fund their operations any further.
The announcement by Wemark can be found here.