A NFT (non-fungible token) is a unit of data stored on the blockchain that certifies a digital asset as being unique and therefore not interchangeable. Non-fungible tokens are gaining popularity as a form of digital collectible including NFTs for Digitized Photos
Transforming a regular digital asset into an NFT is referred to as minting, which tokenizes that asset on the blockchain. All NFTs are sold using cryptocurrency, so both the buyer and seller need a cryptocurrency wallet to complete the transaction.
Verified using the blockchain, NFTs have transparent history of ownership, purchases, and trades that cannot be edited and are visible by anyone. Having an NFT on the blockchain ensures that it can always be traced from the current owner all the way back to the original creator.
A wide variety of digital files can be minted as NFTs, including:
- photos, illustrations and animated GIFs
- trading cards
- video footage
- music and other audio files
- virtual items in video games, including skins, virtual currency, weapons and avatars
Collected In the Same Way as Editions of Photographic Prints
NFTs can be collected in the same way editions of photographic prints are in the traditional market. The result is a potential new avenue for photographers of all levels to market and sell their work. The only difference from the traditional art market is that everything from transactions to ownership is conducted in a digital manner via the blockchain.
The purchaser of an NFT has ownership of this digital asset and not the copyright, which remains with the photographer.
NFTs for Digitized Photos
People have started to understand that a unique digital object can have a significant monetary value, just like a work of art, because of its uniqueness. NFTs for Digitized Photos offer a wide range of new possibilities in contemporary art for artists, buyers, and collectors alike.
The buyer of an NFT corresponding to a digital work of art has in his possession only the certificate, issued by the creator of this work, certifying that he is the buyer. The work in question can perfectly remain freely accessible online, even recorded and shared by millions of Internet users.
Why NFTs and Photographs work well together
- Nowadays most photographs are digital or are scanned and become digital.
- Photography is most of the time in 2D, so it is easy to reproduce on screens.
- The quality of screens and tools that showcase photographs online are getting better and give you an accurate representation of the work, which was not the case before, and it was preferable to see a print to really appreciate the quality of a photograph.
- Tokenization of art on the blockchain is the same as the term editions in photography. It can be open or limited. So NFTs allow photographers to decide what edition they want for their work and the buyer to know exactly what is out there.
- Social Media platforms showcase a huge number of digital photographs. So, people are familiar with seeing photographs on screens.
Digitizing of your Old Photos
Do you think that there may be some old photos of value stored in your attic or wardrobe?
Digitizing your old photos gives you the opportunity to use your pictures as an NFT. But you will not be able to sell all your images for the same price. So, your chances of generating income from NFT will be more if you select the right types of images.
Digitize Media are a small family company that understands how important your photographs are to you. We ourselves experienced the distress of losing our family captured images and as such we have adopted a safe and secure set of practices.
Our specialised and dedicated Digitize Media team will look after your photos with the greatest of respect and upmost care. Safeguarding your memories and privacy is of fundamental importance to us.
Every step we adopt is part of a tested and secure process. No images or data are ever shared.
A full tracking service is in place and regular progress emails will be sent to you.