What Is an NFT Cryptocurrency For Photographers
What is an NFT?
Non-fungible tokens, or NFTs for short, are a type of cryptocurrency where each token is entirely unique, and cannot be replaced. Most tokens form part of Ethereum blockchain technology, yet NFTs are unlikely to ever be used as a way to pay for goods in a mall by traditional means. But they are giving creatives like me, a pretty interesting angle for artwork and photography!
In fact, non-fungible tokens are becoming hugely popular online and allowing photographers to safeguard their work and diversify their income. In this article, we’re going to discuss how photographers and artists can harness the power of NFTs and then explain how you too can create NFT art.
How To Use NFTs As A Photographer
Combining cryptocurrency with artwork might seem like a weird concept, but this new form of digital art allows images to be completely unique and also trackable online. By using an NFT when publishing photographs on the internet, a photographer can make sure their work is not being stolen and used without being paid. NFTs create trackable and unique digital art, photographs, graphic design, GIFs and music.
If you visit an art gallery, you can invest in a picture with the hope that it will increase in value over time. Since you have a physical painting, you can rest easy knowing it is unique and there will likely be the artist’s signature at the bottom to prove authenticity. To make digital art unique and a good investment opportunity, non-fungible tokens are used as digital fingerprints.
Although if you do sell a piece of digital art with an NFT, you won’t be giving away your rights as the artist. You’ll still have the copyright and reproduction rights to the piece of art. This means you can continue to use it to promote yourself and your business as a photographer.
Important to note: While unique cryptocurrency might help photographers track and trace their artwork and sell it online when the internet 3.0 rolls out, this whole concept could quickly come crashing down. Internet 3.0 will be heavily focused on data security using AI and machine learning to create a more private online experience. This could be the beginning of the end for the current state of NFTs. But, there will be new ways to monetize online art that may or may not incorporate non-fungible tokens. All new technology presents growing pains, but I am excited for this potential new way to incentivize content creators and artists.
How Do You Create NFT Artwork?
Non-fungible tokens can represent a smart digital contract, and while this technology is available, it’s worth exploring as a photographer. Pirating and stealing images, content, movies, and music is rife online, and many talented creators are becoming the victims of online crime.
Hopefully, NFTs or a new form of cryptocurrency and blockchain technology will be used alongside the internet 3.0 to form a future where artwork cannot be taken without consent. This will help to safeguard the industry and protect future creators. But right now, here’s how you can use NFTs as a photographer.
Step 1: Set up a cryptocurrency wallet to store Ethereum currency that you’ll need to pay the fees associated with creating, listing, and selling NFT art online.
Step 2: Buy a small amount of Ethereum to cover any associated fees.
Step 3: Now, you can connect your cryptocurrency wallet to an NFT marketplace such as foundation.app or opensea.io.
Step 4: Using editing software you can now create NFT artwork and then head to an NFT marketplace to set up an account and start selling and buying NFT artwork. When you list an item online, the NFT marketplace will walk you through the step-by-step process and make it easy to trade, sell and buy online. For example, here’s how to trade NFT artwork on OpenSea.