Photography. Positives from Negatives.
In 2021 it was predicted by many in the NFT (Non Fungible Token) and Web3 online Community, that photography would be the most collectable art form for the foreseeable future.
Now, more than two hundred years since the invention of photography, this medium is coming to the forefront of the art world and collectors in the form of NFT digital JPEG files. Another exciting era for photography in the Web3 arena embracing film and digital originals high on the majority of demand lists, even from major art auction houses and galleries.
Although 2021 saw a boom for photographers and their photographic work which has continued into 2022 within the NFT industry, there has been a lull due to real life events of instability in the world, affecting economies. Through all of these uncertainties, photography has stayed strong and continues to grow and thrive in today’s market for highly sought after works of art.
Everyday, photographers from a wide spectrum can be rest assured and safe in the knowledge to get their work seen and collected through the power of Web3 technology in the form of NFTs and it’s ease of use, in becoming more recognised and established with their work and making sales from uploading photographic files to a marketable platform, wether it be new work or images from their archives, there are not limits and no gatekeeping.
The beauty, for photographers is that they get paid straight away, again through Web3 technology in the form of digital wallets from all sales made. No more waiting for clients to pay 30 days later through invoicing and constantly having to chase them for payment. Higher profits too for the work produced, because photographers selling NFTs of their work set their own price to the value of the work, rather than being manipulated by companies offering a fixed low price, taking fees and commission of more than half from the photography, which in the past has left photographers with very little revenue for their art, leaving them under valued.
It gets even better too, with NFTs there is a secondary market, where a collector may wish to sell your work that they have already purchased from you, on to another buyer for an increased price, of which you will receive a royalty payment for. Not only is this increasing the value of your art, as the photographer, you’ll get paid twice and many times over, there is no limit.
Photography shouldn’t be seen as a niche, it is a universal form of expression. In fact, it is almost woven into the fabric of our modern lives.
Written on 20.05.2022 by Paul Hamilton, Focus Market Community Manager, London UK.