Photography becomes the latest sector to be conquered by NFT by allowing artists to tokenise their work and earn an income from it.
Non-Funfitable Tokens (NFT) and their link to blockchain have managed to implement the characteristics of exclusivity and originality that have been difficult to present in the digital world until now.
NFT are unique, original and indivisible digital assets with verifiable digital properties to which a certain value is attached. This makes many artists see a business opportunity in being able to sell and share their works without the reproduction and copying facilities offered by the digital environment.
Despite its strong association with traditional works of art, any digital file, be it a song, an image or even a gif, can become an NFT as long as it is copyrighted. This opens the way for multiple businesses and the growth of small artists looking for new ways to bring value and differentiation to their work.
NFT and photography
NFT could completely revolutionise the world of photography by allowing professionals to tokenise their work so that they can sell it without worry.
An increasing number of photographers and collectors are using NFT as a tool to disseminate their art and generate income, recognising the great opportunities that blockchain technology brings to their industry. Moreover, photographers still retain copyright even though NFT are designed to give the buyer ownership of the work.
Smart contracts in the photography industry also play an important role as they are signed by the artist and the buyer and are self-executing when conditions are met. Through the smart contract the artist can earn a sustainable income by benefiting from the resale of their artwork, while retaining the copyright of their photograph.
Selling a photograph as NFT
The first thing the artist needs is to create or select the photograph he owns. Once this step is done, the artist must choose the platform on which he wants to sell it and the number of editions, taking into account that selling a larger number could reduce the price charged for each one. Finally, he should set the minimum amount for which he are willing to sell the photograph in NFT format and the percentage he will receive if it is sold in the future.
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