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Are NFTs The Future of Photography?

2022-04-03

Main Takeaways:

  • The benefits of NFTs can apply to any artist who posts their work online, including photographers. 

  • The NFT space can potentially be an alternative revenue source or lead to more opportunities for photographers. 

  • In this article, we’ll explore what NFT photography is and if it will become the future of photography.

NFTs have taken the world by storm and revolutionized the creative space like never before. NFTs are providing photographers an alternative way to earn an income.  

When the camera was invented, it was the first time we could accurately capture a moment in life, and we didn't need a master artist to do it. 

Like all creative jobs, photography takes a lot of skill and practice to get good. After all, people rely on photographers to capture their best angle. 

However, as technology evolved and cameras became more accessible, professional photographers started to get the short end of the stick. 

In the era of the Internet, many photographers find it challenging to earn a sustainable income. And NFTs might be the solution to make photography a sustainable career again. 

With that said, what exactly are NFT photos, and how do they benefit photographers? Keep on reading to find out. 

What Are NFT Photos?

An NFT photo is a picture that a photographer uploads to the blockchain (this process is known as NFT minting). Each image a photographer mints as an NFT becomes unique, like a specific image number on a roll of film.

But what exactly makes NFT photos special? 

How Can NFTs Benefit Photographers?

For a long time, photographers made a living by selling prints, stock photography or shooting for magazines and other publications. However, as the market gets more saturated, it's becoming more challenging for photographers to earn a steady income. 

We can describe an NFT as a certificate of authenticity for pictures, images, videos, and other types of digital files. Every NFT minted is unique and can’t be duplicated or destroyed. Also, since NFTs use blockchain technology, each sale or transaction is recorded and open for all to see. They cannot be tampered with or misplaced. 

For artists, photographers, and other creators, NFTs can protect their copyright and provide royalty incentives from someone reselling their work on the secondary market. NFTs also use blockchain technology to remove the middlemen and provide creators with a way to showcase their work globally without having to pay big commissions. 

Is There A Market For NFT Photography?

The way we create and consume photographs has slowly shifted from analog to digital. 

Most photos are now appreciated through screens, and with famous auction houses like Christie’s and The State Hermitage auctioning NFTs, it’s clear that NFT photography is more than just a fleeting trend. 

Last fall, the Associated Press Launched a Premium NFT collection on Binance NFT, featuring historic news over the past 100 years. And a few months earlier, Christie’s closed its very first NFT auction sale at $US 69.3 million, featuring Beeple’s “Everydays: The First 5,000 Days”.

NFT Art Galleries in the Metaverse

Additionally, as the metaverse garners more interest, the way we enjoy art and photography can potentially change. 

Now photographers have the option to put their work up as NFTs and sell them in virtual auctions in the metaverse. And with the help of VR headsets, visitors can walk through a metaverse gallery and enjoy their favorite photographer's work no matter where they are in the world.

Tips To Get Started With NFT Photography 

Interested in dipping your toes into the NFT space? Check out these four tips below to get started. 

Showcase your best works: This might sound obvious, but sometimes people can get too excited and mint their whole collection of work. We recommend photographers curate and mint a collection consisting of only their best NFTs photographs. 

Tell a Story: A photograph is worth a thousand words. Adding meaning and depth to each NFT photograph can encourage more people to check out your collection.

NFT Utilities: Bundle up your NFT photos with NFT utilities, such as real-life photography workshops with you. This provides additional incentives and exclusive privileges for collectors when they buy your NFT. 

Promote your work in your community: Engage your community on social media channels consistently and incorporate traditional marketing tactics to get your NFTs in front of a wider audience.

A Golden Opportunity 

Although the NFT photography scene is relatively new, the opportunities in NFT photography are exciting and developing rapidly. So, if you're a photographer, you may not want to miss out on this great opportunity. Especially when you consider the success of digital art in the metaverse. If NFT photography can mirror that success, it is very likely that NFT photographs may open many doors of success to photographers.

Venture into the world of NFTs 

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DISCLAIMER: NFTs are an emerging asset class that is still evolving. The information in this article should not be construed as investment or financial advice. Always do your own research before making any decision to buy, sell or trade NFTs.