Photography, as a profession, has evolved. There is a wide gap between Giroux Daguerreotype, the first camera, and Canon EOS R5 - the best camera in the world at the moment. Therefore, it is apparent that technology is a huge mover for the past and future of photography. With the advent of blockchain technology, non-fungible tokens—popularly shortened as NFTs—is the latest buzzword in photography.
NFTs have developed a lot of use cases in photography that some even ask, "Are NFTs the future of photography?"
The purpose of this article is to examine the truism of this question, and determine whether or not NFT photography are mere puffs that would fade in photography with time.
NFTs are a product of two words: "non-fungibility" and "tokens." Non-fungibility refers to how something cannot be replicated. In other words, it means the particular article or object in question is one of its kind.
Taking this to the blockchain: let's say A sells his Bitcoin to buy MANA and he later wants to swap his MANA back to BTC, he would get BTC, but not the initial one he sold. Thus, Bitcoin is fungible.
Since we have explained non-fungibility, what then is a token?
Tokens are digital items that run on the blockchain. They can be a track of music, GIF, jingle, picture, clip, or even video.
At this juncture, we can explain NFTs to mean blockchain-based items that are unique and confer the right of ownership on the buyer.
For us to determine whether or not NFTs pictures are the future of photography, we need to predict this from the present use cases and developments. These use cases are simply the confluence of NFTs and photography.
The creator economy is beset with the imbalance of uneven remuneration. In other words, creatives are not always duly incentivized for their artworks. But NFTs are changing the narrative.
CNBC reported recently that someone paid 400 Ether—around $1, 547, 640—for the picture of a rock. The story of Beeple, a digital NFT image that was sold for $69 million, also broke the Internet.
Before now, only a few photographers were into NFTs, but the recent rounds of success have attracted millions of them. With this influx, NFTs will be the future of Photography.
At this juncture, it's important to bear in mind that NFTs have not only helped skyrocket the income of photographers but also their community building.
There are a lot of niches in photography - fashion, weddings, babies, nature, products, and so on. Over time, some photographers have gained authority in each of these niches.
This authority builds an audience of people who find their works to be so amazing. Such kinds of people see these photographers as idols and would want to have a better bond with them.
While autographs were in vogue at a time, NFTs are the autographs of today. Renowned photographers now mint rare NFTs for their die-hard fans.
One of the subsets of blockchain technology is the Metaverse. Simply put, the Metaverse is an alternative blockchain-based virtual world where human beings can get to interact.
It is the merging of virtual reality, augmented reality, artificial intelligence, and blockchain into a single space. At the moment, the play-to-earn economy is opening the world up to the Metaverse. How do photographs become relevant here?
Play-to-earn games NFT have characters and settings, most of which include some popular persons and places in real-life. The photographs of these persons and places are minted into NFTs for people to interact in the Metaverse.
Therefore, one thing is sure at this point: photography and non-fungible tokens would remain relevant so far there are blockchain-based games.
That aside, there is more to the Metaverse than gaming. Most blockchain-inclined companies like Moralis recently announced having their meetings and hangouts in the Metaverse.
Each member in such meetings would appear in their NFTs, some of which might be minted photographs. Thus, the collision of photography and NFTs would be unavoidable in the future.
The argument of whether or not NFTs would be the future of photography is not water-tight. There are a lot of factors to consider before concluding. However, time will indeed tell.
At the moment, photographers often share soft copies of their works through platforms like Dropbox or Google Drive. But in the future, all these platforms of sharing digital items and data would be running on the blockchain.
Based on this ratio, the only way for photographers to send a soft copy of photographs to their clients would be minting and sending it to their wallet addresses. On this note, NFTs would most likely be the future of photography.
On the other hand, there is more to blockchain than NFTs. Thus, another subset of blockchain may arise in the future which would render NFTs irrelevant.
All the same, there are more indications that photography would have no future without NFTs.
The present use cases of NFTs in the world of photography cannot be overemphasized. Therefore, a huge number of photographers are affirming that NFTs can be the future of photography.
However, most photographers are hindered from marketing their works as NFTs because of the barrier of platform. This is because of two basic reasons:
First, it is an honest truth that popular NFT platforms like Opensea can be hard to navigate, especially for those who are not familiar with blockchain.
Reports even have it that only 20% of Americans know about NFT. Therefore, there is a need for a simple yet powerful marketplace for photographers to mint and display their NFTs.
Secondly, making it in NFTs is beyond minting. Most NFTs marketplaces don't provide sales funnels and revenue management dashboards for NFT creators.
On this note, NFTify is the best NFT marketplace for photographers. You can build your own store without writing a line of code.
Unlike Opensea NFTs where NFTs are only based on the Ethereum blockchain, NFTify runs a multi-chain platform for photographers to build on other blockchains like Polygon.
NFTify is the favorite of most photographers because the platform provides them with branding and marketing solutions.
Go ahead & open your NFT stores via https://nftify.network/