NFT Photography: What, Why & How?

While NFT art has received a lot of attention, NFT photography has slipped under the zeitgeist radar, despite being one of the fastest and most respected uses of non-fungible tokens. Photographers, both new and experienced, are discovering new ways to sell their work as NFTs, on NFT markets, and in galleries that support NFTs.

 

So, what exactly are NFTs? Simply put, non-fungible tokens are a method of storing a digital file on a blockchain where it cannot be deleted, edited, or corrupted. The data held by the NFT can be viewed, tracked, and traced, ensuring digital file ownership.

 

Smart contracts govern how an NFT can be sold or held, which means you can profit from future sales even if you sell the NFT photo or the NFT itself.

 

What is NFT Photography?

 

NFT photography primarily serves to increase the creator's wealth, expand an art investor's collection, and provide benefits traditionally associated with cryptocurrency. Because the NFT industry can be perplexing to newcomers at first, I'll do my best to break down all relevant information about this world, as well as the best photography NFT marketplaces, in great detail without making everything sound too complicated.

 

 NFT is a digital holding certificate that entitles you to a specific virtual object. NFT does not prevent the digital asset from being copied; rather, it establishes the right of possession. Pictures, songs, videos, gifs, memes, or any other element of internet culture that cannot be recreated, removed, or destroyed can all be used to represent the digital object in question.

 

The introduction of NFTs altered our perception of photography and how it can be preserved. Physical photographs were popular a few years ago when anyone could print them out and use them for whatever purpose they wanted as long as they retained ownership of the image. As the world moved into the digital age, the issue of image copyright and ownership became increasingly contentious.

 

The original owners received very little compensation for the photographs they took or own. NFT Pictures is working hard to solve this issue. They are guaranteed to be authentic and open because they are built into blockchains.

 

NFTs are a new way for photographers to earn money from their work, and you can protect your digital photos when using them online or leasing and selling them. An NFT registers your photo as a unique piece of code on a blockchain; when you mint your photo as an NFT, you're essentially selling the 'code' and registration, as well as the smart contract that goes with it.

 

You don't even have to include the original photo on the NFT contract; you can keep the copyright and sell the usage rights to a collector. You can also sell the original while retaining secondary sale rights, which means that both you and the buyer can profit from resales and how the photo is used.

 

How to Sell NFT Photographs?

 

Buying and selling non-fungible tokens has become easier in the last year as non-fungible token marketplaces begin to separate themselves from NFT jargon and blockchain complexity; for example, most NFT marketplaces now accept debit and credit cards as currency rather than just cryptocurrency.

 

To sell an NFT, you will still need a cryptocurrency wallet, which is simple to set up. My preferred wallet is MetaMask because it is safe and secure and can be easily linked to all of the major marketplaces. Similarly to my guide on how to create an NFT for free, your crypto wallet for NFT photos serves as a passport to various marketplaces; your purchases and sales are stored in this wallet.

 

Seed photo is a new NFT marketplace for photography that has an easy onboarding process and plenty of help for newcomers, including a good FAQ and How It Works section (opens in a new tab) that answers all of your questions.

 

Simply set up your wallet (easy, just follow the app's instructions) and save your Seed Phrase, which will serve as your backup password. You can start making NFTs of your photos once your wallet is linked to a marketplace. Simply load your image, enter the metadata and descriptions, and click the Create button. To mint the NFT, you must pay 'gas' fees, which are the costs of registering the NFT on the chosen blockchain (Ethereum is the most popular, but you can also use Palm, Polygon, Solana, and others).

 

You can make the NFT photo for free by using 'lazy minting,' which charges the buyer the gas fee rather than you, the seller. The downside is that the NFT technically does not exist on a blockchain until it is purchased, and it is frequently bumped in the search on a marketplace, making it more difficult to get noticed and sell. Lazy minting is useful for testing the process, but you'll eventually need to mint NFTs properly.

 

This system is beneficial to photographers. However, it begs the question of why anyone would purchase an NFT in the first place. Although they own the original NFT, the creator may continue to use the image or video for other purposes.

 

Additionally, images and videos purchased as NFTs are free to view. Anyone with access to YouTube can now watch the Grimes video, which sold for $390,000. Images, on the other hand, are even more vulnerable. Even if it is an NFT, you could right-click and save-image as a photograph from a web page. It could not be used for commercial purposes, but it could be enjoyed privately.

 

Why NFT Photography?

 

Every story and every photo collection means something to you as a photographer. Photographers capture unique societal moments in both their personal and professional lives. Similarly, NFTs capture digital moments in society, each with its own community. NFTs help you own your work as a freelance photographer. Unless, of course, you sign a contract stating that your work belongs to someone else. That is what a day job entails. Others profit from your creations rather than you. However, as the photographer, you no longer have control over your work. 

 

Photographers, like other artists, can create NFTs and sell them online. There is no need for new shoots. Instead, search through your archive for an old photograph that you believe is valuable.

 

NFTs can be a good way for a photographer to supplement their income. They can sell photographs they took for fun. Even images that previously had no professional value. You can convert any digital device into an NFT.

 

Photographers have a lot of flexibility when it comes to making money and getting credit for their work because most photographs are digital or can be scanned. And, while the buyer owns the copyright, the photographer retains the copyright and reproduction rights.

 

Snoop Dogg, for example, published and sold a collection of NFTs titled "A Journey with the Dogg" for hundreds of thousands of dollars.

 

You can create an NFT photo on multiple marketplaces, just like you can sell an image as a stock photo and mint it as an NFT photo. In fact, there are currently no restrictions, but you should ask yourself one question: does selling it everywhere make sense? Consider this: the more popular an asset is, the less valuable it is; not the other way around. Avoiding duplicating your work across multiple marketplaces is in your best interests.

 

When an NFT is sold, the buyer acquires ownership of the artwork. As a creator, you may be concerned that someone will purchase your work and claim it as their own. However, because of the way blockchains work, the creator retains the copyright and reproduction rights. Blockchains store data for all NFTs sold. So you can see who owns the NFT as well as its entire history. And, because the creator retains ownership of the image, they can use it on their own social media. They can even display it in public places.

 

Examples of NFT Photography

 

We've gone over NFTs and what they are. We also looked at popular NFTs that are popular with collectors all over the world. However, how does this apply to photography?  listed below are some  popular and interesting photography NFTs for you to look at below for a visual explanation:

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Examples of NFT Photography

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1. Where My Vans Go:

 

"Where My Vans Go" is possibly my favorite photography NFT. This demonstrates the strength of NFTs and the stories they can tell. This is a collection of 124 photographs that document the creator's travels across the United States. Almost all of the photos, however, involve some sort of death-defying stunts, such as standing on the edge of a skyscraper or a suspension bridge.

 

2. Planet Paris by Paris Hilton:

 

Paris Hilton is one celebrity who has jumped on the NFT bandwagon and is already making significant progress. She collaborated with digital art designer Blake Kathryn to create Planet Paris, a new NFT collection. Each of the four NFTs in the collection will be related to Paris, her passion, female energy, beauty, and the celebrity's history. On Saturday, April 17th, Planet Paris held its first sale, and one of its debut NFT pieces, Iconic Crypto Queen, sold for $1.1 million.

 

3. Bad Luck Brian:

 

One of the best things about NFTs is that anyone can become a digital creator, which is especially true in the NFT meme market. Kyle rose to fame after his yearbook photo went viral in 2012, thanks to the viral "Bad Luck Brian" meme. Kyle sold the original image as an NFT in 2021 for 20 ETH (approximately $36,000). Memes like Nyan Cat have followed suit, creating a new hot market for NEFT transactions influenced by social network virality that you can profit from.

 

4. Beautiful Cities of the World:

 

Many well-known photographers have collaborated on NFT photography projects. Trey Ratcliffe is one such notable individual. His "Beautiful Cities of the World" has a total sales volume of 493 ETH (approximately $565,000 at the time of writing). The photographs are in his signature HDR style and feature iconic cities such as Istanbul, Cairo, Beijing, Bangkok, and Los Angeles.

 

5. World Wonders:

 

This NFT project is a collection of 50 stunning photographs of various world wonders. Jacob Riglin's photography is stunning. Polar Bears in Canada, the Singapore skyline, aerial photography of London, and the Great Blue Hole in Belize are all examples of NFTs. I could gaze at these stunning images for hours, and they have sold for a total volume of 172 ETH (at the time of writing - $200,000).

 

To summarize,  This NFT business may appear to be complicated. To be honest, it is. The cryptocurrency world is complicated and difficult to navigate. Furthermore, the majority of NFT creators are artists rather than day traders.

 

Cryptocurrencies are on the rise. It may appear to be an excellent place to invest. However, the foundations are shaky. It could be the bursting of yet another capitalist bubble. If you're unsure, it's best to avoid it. At the very least, conduct preliminary research.