As part of the exciting new changes you will be seeing on CoinaPhoto from the 23rd June 2016, we’d like to advise you on some specific changes that will be made to our tokens system.
From 3 tokens to 1
We have reviewed our gold/silver/bronze token system and found that it was all just a little too complicated for its own good – so we’ve worked hard and managed to simplify things for you. From the 23rd of June 2016 there will only be one token that you will need to worry about in order to gift and be gifted and you will be able to set all photo prices in the Market using this new single value. The value of this token will be US$0.20 and will have a brand new look on the website.
Already have gold, silver or bronze tokens?
Not a problem! All tokens will be automatically converted into our new tokens valued at US$0.20 at no cost or effort to you. Should you have any bronze tokens that do not convert into silver tokens (i.e. you don’t have enough bronze tokens in your account to convert into a silver token) these will be automatically upgraded into our new tokens – equal to a silver token’s value – as part of the change. This means a few extra cents in your wallet to use on our platform as you wish!
Increasing the recommended prices for market photos
We have been conducting immense amounts of research on photo library pricing and have found that CoinaPhoto’s photographs are very competitively priced. While value is always a good thing, we’ve found that we may just be a little too competitive compared to stock photography websites and our photographers may be missing out. With this in mind, from the 23rd of June 2016, all new photos uploaded to the Market will have a recommended price of $5 for small images, $10 for medium sized images and $15 for large images. While there won’t be any changes to the prices of photos currently listed in the Market, we encourage all CoinaPhoto photographers to review their current prices based on this latest change.
A change in fees
We are very passionate about supporting all of our talented photographers and consistently aim to provide the best opportunities for all users to sell their photos to buyers from around the world. In order to do this, we need to continually invest behind CoinaPhoto and build a platform that will grow and succeed for years to come. As a result, as of the 23rd June 2016, there will be slight increase in the fee that CoinaPhoto takes when you redeem tokens from your CoinaPhoto account into PayPal. Specifically, CoinaPhoto will now increase its processing fee from 10% to 30%. With this new change, CoinaPhoto is still providing its photographers with one of the most competitive commissions versus its competitors and 70% of every dollar made on the sale of your photos will go straight into your pocket!
We believe that this shouldn’t change things for our photographers at a great level, but this small change will present ongoing potential for CoinaPhoto to provide all of our users with the best opportunities to connect and engage with other photographers and sell their photographs to an ever increasing database of worldwide buyers. Keep an eye out for some additional features that we will be adding to CoinaPhoto in the very near future!
Thank you for your continued support.
From the CoinaPhoto team