News

Piction Network Builds New Bridges For Today’s Digital Natives

  • By championing the work of
    creatives, Piction Network will democratize online content creation,
    eliminating the middleman and connecting creators directly with users
  • Piction Network to disrupt the
    content creation industry with favourable intellectual property rights for
    content creators
  • Piction has formed partnerships
    with Klaytn, Afreeca TV, Flitto, Sandbox Network and Coinplug, and already has
    a network of 35 million users

SHANGHAI, CHINA - Media OutReach - 13 February 2019
- The volume of the entire digital content market is expected to
reach 1,982 Million USD in 2019, with an annual growth of over 10%. As the
market for digital content continues to grow in the fourth industrial
revolution, media industry leaders with immense influence threatens to diminish
opportunities available for young content creators to make a name for
themselves. The rise of free-to-air content on established digital platforms
also puts young content creators in a difficult economic spot.

Original creative works are pitched and sold at
low market prices, and creative copyrights are reluctantly handed over in
unfavourable service agreements, disempowering the aspiring creative
professionals.

The
Piction Network Solution


The Piction Network ecosystem recognises and
solves this problem by harnessing the architectural power of blockchain.
Content creators can raise the needed funds directly from the Piction
community. Community members, in turn, too can participate as supporters,
translators, influencers and consumers. Funds raised through the Piction
Network blockchains are equitably and transparently distributed directly to
content creators.

More significantly, content copyright ownership
remain exclusively in the hands of content creators being registered and
untampered on the blockchain. The Piction Network serves as the community
platform that connects creators and communities together. Industry monopolies
and unfavourable creative intellectual property rights need not be major obstacles
anymore in this growing digital content market.

Recognizing the problems in the digital content
market, Fred Bae, CEO of Piction Network says "It is very hard to maximize the
potential of the one-man creator in the content market. Even Youtube is only focused
on the scope of video clips, limiting the creator's scope of work. There are
numerous types of one-man creator content, various one-man creator with
different types of talents, and the users have their right to enjoy the
different type of content."

He continues, "The ecosystem that Piction
Network plans to build offers an environment where a talented person can start
their work as a one-man creator who, with the support of other talented users,
can easily overcome the hardships such as lacking marketing, promotion, and
translation. The blockchain based system will maximize and encourage the
cooperation between the one-man creator and users."

Piction Network is selected as the first
partner in the content business area with Klaytn, the blockchain platform by
Korean IT company Kakao. Many other startups and IT companies that have also
formed partnerships with Piction Network include Afreeca TV, Flitto, Sandbox
Network and Coinplug. Piction Network has already acquired 35,000,000 user pool
with partners.

Piction Network hosts an impressive list of
advisors and angel investors, including Youngki Hwang, the former president of
Korea Financial Investment Association (KOFIA), David Lee, former chairman of
Nexon, Ina Jang, CEO of Smilegate Entertainment, and Won Seo, representative of
Global Business, WeMade.

About
Piction Network


Piction Network is a decentralized peer-to-peer
digital content ecosystem. Leveraging blockchain technology, Piction Network
intends to cultivate a creator oriented and trustless digital content
ecosystem. Piction Network aims to disrupt the centralized models of content
monetization, distribution, and ownership dominated by extractive
intermediaries to return power back to the content creators.

For more information on Piction Network, please
visit https://piction.network/en/.

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