Revolutionize the Media Industry by Launching a Platform Dedicated to NFT for Photography
Author Business, NFT for Photography, Technology
There is a famous quote that says, “A Picture is worth a thousand words.” Photography is one of the most underrated talents in the world. Capturing an eye-catching image requires great attention to detail, a high level of focus, and more patience.
In this era of social media, images can be quickly shared on platforms like Facebook, Instagram, and Twitter by anyone. This leads to issues such as copyright infringement and duplication for photographers. Advanced editing tools can modify their images which will harm their creativity and hard work.
The global digital photo market will reach a humongous value of $48.9 billion at the end of 2021. Huge demand will be witnessed for both personal and commercial photoshoot services. NFTs help photographers earn a lot of revenue by tokenizing their images and selling them on several online marketplaces.
Non-Fungible Tokens (NFTs) help photographers to directly sell their exclusive images on marketplaces to the target audience. They need not depend on any middlemen or third parties.
The crypto market has seen the emergence of Non-Fungible Tokens (NFTs) in recent times. These valuable crypto collectibles have accumulated a humongous market cap of $19.40 billion and a daily trading volume of $2.70 billion as per CoinMarketCap There are a whopping 710,435 NFTs in the market according to CoinRanking.
Digital collectibles have impacted several industries like artwork, e-commerce, entertainment, fashion, gaming, music, and social media. Now, photography is the next big industry where NFTs will play a major role.
What is the current status of NFTs and photography in the crypto industry?
Rarible is a popular online marketplace that has traded 148,661 crypto-collectibles worth $104.32 million as per data provided by DAppRadar. It is selling various photographs as NFTs to interested buyers.
Some of the popular collections are eatables like fruits and vegetables, elements of nature such as fire, flowers, water, sunset, trees, photos of eyes, lips, tongues, portraits, tattoos, and images of buildings, bridges, castles, fashion accessories, forts, hotels, kitchens, skateboards, and watches. The buyers make the required payments through Wrapped Ether (WETH) ERC-20 tokens.
The photograph-themed NFTs can be stored securely by the investors in multiple digital wallets like Coinbase, Fortmatic, MyEtherWallet, Portis, Torus, and WalletConnect.
Bitski, another fast-growing NFT marketplace, sells NFT-based photos through auctions. Once the auctions are successfully completed on the platform, it will announce the winner after the photographer selects the best bid. The full resolution image can be unlocked by the buyers by paying an extra amount.
Bitski also offers a Single Sign-On (SSO) digital wallet for storage of the crypto collectibles. The photograph-themed NFTs can also be resold on the OpenSea NFT marketplace. The photographer earns 10% royalty of all the transactions processed on the online marketplace.
The cameramen can get all their payments by linking their bank account to the Bitski online platform. The buyers can purchase the rare photos sold as NFTs through credit cards.
What are the real-life examples of NFTs sold as photos?
Kate Woodman earned $32,806 by selling a digital tokenized image named “Always Coca Cola” on the Foundation.app NFT marketplace. It was purchased for 11.888 Ether (ETH).
Kurt Cobain, a popular American singer’s past photoshoot in April 1994 was sold as NFTs by another photographer named Jesse Frohmann. The minimum bid for each photo is 27.27 ETH ($72,246).
Many famous models like Emily Ratajkowski are getting ownership rights for their photos by selling them as crypto collectibles in the market.
Playboy, the iconic magazine is selling original photographs (5000 art pieces) through the Nifty Gateway marketplace. The magazine’s editorial employees will team up with famous collage artists to create NFT-themed photos.
What are the benefits offered by Non-Fungible Tokens (NFTs) for photographers?
- Photographers will get numerous sources of revenue from primary and secondary sales of their photographs and royalty (a fixed percentage of the final selling price) when there is a resale of their work in different marketplaces.
- NFT marketplaces have numerous verification steps in place to prevent problems like copyright infringement, duplication, and morphing. This ensures a high level of security, transparency, and trust for photographers.
- The photographers will earn millions of dollars by selling rare images of popular brands and celebrities in the form of NFTs. They will get aggressive bidding for the digital collectibles from a huge number of fans and followers.
- Though many buyers may download the photograph after they purchase it, the photographer still retains exclusive ownership of the image.
- The cameramen can easily monetize their photos by selling them quickly to a large number of investors through live auctions. Additionally, conversion rates for images are very less on social media platforms like Instagram where there is an overload of content.
- Non-Fungible Tokens (NFTs) provide a lot of flexibility to photography professionals, as they can sell them either as a limited edition hardcopy or multiple versions of the same image. The photographers can attract more buyers by designing it as a portrait, poster, and tattoo.
- The photographers can claim damages by filing a lawsuit in case their image is minted as an NFT and sold on a marketplace without their permission.
- Photographers can safeguard their images from theft by utilizing advanced content protection tools. This prevents misuse of their precious work.
- The cameramen can track all the trades and transactions of their NFTs by viewing the distributed ledger held on the robust smart contract.
Are you Looking To Integrate NFT With Photography?
Connect on WhatsApp What are the various services provided by AppDupe related to NFT for photography?
We create photograph-themed NFTs by following the guidelines and rules of ERC-721 and ERC-1155 standards of the Ethereum blockchain network. Our experienced developer team helps photographers to easily sell their works as crypto collectibles on the leading NFT marketplaces like Axie Infinity, Decentraland, Foundation, GhostMarket, Gods Unchained, Momint, OpenSea, Rarible, Sorare, and SuperRare.
We will help the lensmen to store their crypto holdings in secure digital wallets like Dapper, MetaMask, and Trust Wallet. We also provide insightful NFT marketing services across emails, crypto forums on platforms like Quora and Reddit, and different social media networks.
Wrapping Up
Photographers lost a lot of income as many events and shoots were canceled or postponed during the onslaught of the Covid-19 pandemic. However Non-Fungible Tokens (NFTs) have made them financially self-sufficient. They can command a high value for their work and also control how their content gets distributed across multiple platforms without facing any restrictions.
Hence, both amateur and professional photographers can pocket millions soon by reaching out to AppDupe for game-changing NFT for photography development. We assure cameramen that their valuable work will be sold on the leading NFT exchanges for a handsome price.
Aspiring entrepreneurs can also earn hefty revenue from auction fees, bidding charges, a commission from photographers for every primary and secondary sale of their work, gas fees, listing charges, minting fees, and transaction processing charges. Contact us now and become a part of this exciting era soon!
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Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.
