NFT (non-fungible token)

maxphotomaxphoto pacific nwRegistered Users Posts: 6 Big grins
edited March 30, 2021 in Mind Your Own Business

I'm guessing the Mind Your Own Business is the correct category?
Is anyone here doing anything with this new idea of NFT for photography? Here's an article that describes it some. https://petapixel.com/2021/03/12/what-is-an-nft-and-why-should-photographers-care/
I'm only just hearing about it too and would like to get some chatter going about it so we can all figure this out together.
Thanks in advance for your insights and input!

Comments

  • JonaBeth RussellJonaBeth Russell Major grins MauiRegistered Users Posts: 1,054 Major grins

    Very interesting. In short, it's just a strictly online marketplace, from what I gather, with a very broad audience.

    In my work market, nearly everything I deliver is in digital form, so I'm not new to the concept of selling digital goods. I work strictly in licensing, and deal with copyright and selling the value of an image on a daily basis. What I don't understand about the NFT thing is...why? Why is the a sector of people shopping for NFT's, and what's driving them to shop for photographs, videos, gifs and the like? Why are they skipping a licensing platform, such as Getty or Vimeo, and paying crazy money for a digital copy with some NFT ownership concept behind it? I understand the thing with LeBron James gif, because it's probably the ONLY one like it anywhere, and you wouldn't really go license that to people. So sure, but really why for all the other types of digital media?

    Ultimately, I suppose my questions of 'why' are a pretty obvious indicator that I just need to go learn more about this. Thanks for posting and getting me started down the path. I'm definitely stoked on turning digital media into 'wake-up' money.

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