Opinion: NFTs are changing the way photographers create and market content

Since breaking out last year, non-fungible tokens (NFTs) have shown appeal to collectors, investors and traders alike.

They are especially noticed in the art world, where the provenance of an item is everything and owning an official, unique version of an item is more valuable than a copy or reproduction.

Some argue that artists who create and store their work on-chain could use the technology as proof of ownership for a popular art form.

Photography has also found its place among the various art forms utilizing NFTs, but what is the immediate value it brings to artists and consumers?

In fact, as an emerging and rapidly developing technology, NFT is not without limitations.

Most participants are familiar with NFT through marketplaces such as OpenSea from the first half of 2021.

The first artists to experiment with this new technique took a personal, carefully curated approach to bringing in new talent. Twitter Spaces and Discord servers have proven to be important channels to support NFT ecosystem outreach services.

The Importance of Content Control

Photography now generates an unprecedented supply of content, and NFTs are the tools that continue to accelerate and democratize content while providing new ways to generate revenue from these sources.

Photographer Marshall Scheuttle spoke to Cointelegraph about how the current "exposure compensation" mode of Web2 is working against artists.

"How we present our work is largely dependent on the platforms that exist, and as the field grows and evolves, we as artists must offer new solutions and options to better reach our audience," Scheuttle said. audience while meeting the needs of artists to present their work.”

Artists are unable to freely distribute their art through traditional channels to make a quick, immediate positive impact.

Blockchain technology, through NFTs, allows artists to define their terms, as the nature of transactions that occur publicly makes the field more transparent.

recognition of intellectual property

NFTs provide so-called proof of provenance for each artwork, which is attractive to many artists struggling to reclaim full ownership of their work and expand their art to new audiences.

However, there is a subtle difference between provenance and copyright.

Most of the challenges in dealing with copyright come from NFT marketplaces. Many online marketplaces use NFT transactions, and most follow an auction-style scheme, with varying levels of governance. However, these platforms do little to protect property rights and usage. In some cases, bad actors have been seen stealing photos and turning them into NFTs.

There is no real situation where people won't fake or repurpose other people's content. In the Web2 world, both individuals and companies are using images without authorization and without mainstream repercussions – this is nothing new for digital art.

Copying encrypted art is technically impossible because pasting the same copy of the image fails to capture the information that makes up the NFT components of that artwork.

The current NFT space facilitates the open flow of information and seeks to assess the provenance of existing content on the blockchain. Crypto artists authenticate and mint NFTs linked to the authenticity of the artwork created, which can then be uploaded to various marketplaces to lock in potential buyers.

Julie Pacino, daughter of legendary actor Al Pacino, has started her own project, "Keepers of the Inn," to retain creative control of her work by casting a series of photographic NFTs.

From the photography credits in "Keepers of the Inn": Keepersoftheinn.art

Rethink Marketing Strategy

Anyone with a camera and an internet connection has the same opportunity to create and monetize art. More high-quality work will emerge as a new wave of professional and amateur photographers venture into the field. Those photographers who are willing to accept a marginal income will set a floor price for their work.

Artists in the ecosystem must engage their audiences in order to remain relevant. By having people in the field read the story, hear the words, and understand the process, the artist creates an important emotional connection.

Elise Swopes, a self-taught photographer and graphic designer who made $200,000 in 10 months by selling her work as NFTs, told Cointelegraph:

"There may seem to be a lot of pressure to change my style in order to cater to the mass market of 3D design and illustration, but it reminds me that I'm fairly passionate and driven to create something I love rather than trying to keep up with trends."

In the secondary market, the credibility of artworks determines the price. A true NFT will only have perceived value associated with the art, artist, and community.

The Shade Source: Elise Swopes

As described by the NFT art collector who goes by the pseudonym “6529,” technical talent is not a key differentiator in building an audience. Artists who stand out from the crowd must create memorable experiences.

"So your job is to make connections and find people who can connect with that part of you who like and appreciate what you do (a small part is fine, 1,000 people is enough to have a wonderful business and do what you love to do) Conversational stuff."

A good example is the story of 22-year-old Sultan Gustaf Al Ghozali, a computer science student in Semarang, Indonesia. He sold nearly 1,000 selfies as NFTs to reflect on his graduation journey. The series generated a total transaction volume of 397 ETH, currently equivalent to over $1.2 million.

overcoming technical hurdles

Artists face the challenge of transferring their collections and personal images into the NFT realm. The onboarding process can be daunting for newcomers, but the promise of gaining new audiences and immediate compensation and support is a powerful motivator

Swopes said:

"The most exciting part about NFTs is that I don't have to switch my use of digital art to print. I think my work looks best on screen."

A better onboarding mechanism would encourage people to start engaging with photographic NFTs on a regular basis and redefine what it means to create art. The steep learning curve will be flattened with more curated educational content, relaxing the experience of browsing the marketplace and finding desired artwork.

Hybrids like Scheuttle's NFT photo album "Morningstar" are an innovative way to add value to projects. He explained that NFTs have given him the tools to earn fair compensation for his work while helping him grow as an artist.

Creatives are constantly pushing the limits of what technology can achieve, and they are only just beginning to understand the possibilities that NFTs offer photography.

The natural evolution of photography is to embrace these new tools and adapt to changing times, allowing a new generation of photographers to thrive in Web3.

Cointelegraph Chinese is a blockchain news information platform, and the information provided only represents the author's personal opinion, has nothing to do with the position of the Cointelegraph Chinese platform, and does not constitute any investment and financial advice. Readers are requested to establish correct currency concepts and investment concepts, and earnestly raise risk awareness.