What is a Photography NFT
Tokenising your most popular photograph means that you can sell its NFT and continue to show your image on other platforms or website, license it to companies, or sell prints in your online shop, and more.
Pros of Photography NFTs
— Ensures authenticity. One of the biggest barriers to photography is to establish the authentic work from the copied or modified copy. It is this ease of modification of a photo that NFT is trying to eliminate with the help of blockchain technology. A tokenised photo will enable buyers to verify the authenticity of a picture and determine its value.
— Eliminate fraud and theft of intellectual property. Fraud and theft of intellectual property and the world of photography are like Siamese twins in the old system. Stock photos are all over the place, whose original owners are not traceable. With NFT, one will be able to tokenise their photo, claim intellectual property right for a lifetime, or sell it to another entity under their terms.
— Higher transparency with tokenised photo. Blockchain technology is immutable, and any digital content stored in it cannot be altered or manipulated. The assurance ensures all the parties involves in the trade are fully aware of the state of the item being traded. This transparency helps both the seller and the buyer.
— Transaction security. With the tokenised photo on an NFT platform, traders are all protected from any fraudulent or scam activity. Blockchain enables users to trace the ownership, submit their bid, or desire to buy under no threat of insecure transactions ever taking place. Investors on the photos can easily trust their money within an NFT platform.
— Fractional ownership. One of the major challenges affecting the traditional art market is the inability to create more copies of the same picture. With a digital photo and the power of tokenisation, one can create multiple copies of the same photo and sell them to different entities, each with an individual fractional ownership license.
— Increased revenue basket. While it’s not easy to create multiple versions of a digital photo in the traditional photo markets, NFT platforms have made this possible, allowing members to create various copies and sell them based on the fractional ownership license. The net benefit is increased revenue earning for the photographers.
— Flexible and extendable NFT infrastructure. A tokenised photo will be directly sold between sellers and buyers on an NFT platform, allowing the parties to decide on how the transaction will take place. This freedom is not available with the traditional platforms, which do not give sellers and buyers the luxury of choosing how their photos can be shared.
— Minimized cost of trading. One of the biggest challenges facing the photography industry is the high transaction costs involved in the trading of photos. With tokenisation of photos, photographers will be able to overcome this challenge as the expensive commission is eliminated.
NFTs enables traders to photographers to earn more revenue by selling fractional ownership licenses to buyers in a mass market.
Creating an NFT with NFT Intellect, you can set and receive a royalty from each resale of an asset that belongs to you, as you will be in a position to earn from the recurring income.