Why You Should Join The NFT Photography World?

Take the leap of faith!

December 28, 2022

Weekly NFT Photography Newsletter Banner by Focus Market

Good morning!

We hope you've had a lovely and joyful Christmas weekend!

We're days away from 2023 which makes us very excited about the things to come. Finally, we'll be able to give our community what they've been waiting for.

But until then, let's go through some of this week's topics:

  • Why you should join the NFT photography world?

  • National Geographic taps Snowcrash to release a photography NFT collection

  • How is Web3 integrated into NFT photography platforms?

  • Our Predictions for NFT Photography in 2023

Why you should join the NFT photography world?

There's still an ongoing debate on how viable the NFT model is for photographers on a mass adoption level.

One of the reasons for that is a small and concentrated market of established NFT artists that reap the majority of profits.

The reality is that it's still too early to tell. A previous couple of market cycles are too small of a sample size for us to understand what we can expect in the future.

With that being said, if you're a digital artist or a photographer - there's no harm in taking the leap of faith to explore the emerging space of Web3 and NFTs.

The barrier to entry is very low and there's so much to gain if you're able to cultivate a loyal audience.

David J. Del Grande - a photographer and writer based in Tucson, Arizona - is one of the many artists eager to test the waters of NFT photography. 

You can read more about Del Grande's thought process in this short essay.

National Geographic taps Snowcrash to release a photography NFT collection

On January 17, National Geographic and NFT platform Snowcrash will release a photography NFT collection.

In celebration of 135 years of National Geographic Photography, the collection "GM: Daybreak Around the World" will include 1,888 NFT photos of 16 sunrises from all over the world.

Click here to find out more.

How is Web3 integrated into NFT photography platforms?

You can find heaps of content about the decentralized web benefits - also known as Web3 - and the way it fuels the NFT economy by providing numerous advantages for photographers, collectors, and users.

However, we believe that some of the core principles are often undermined at the expense of growing a larger user base or increasing revenues.

Here are a few things to consider when choosing a marketplace for your NFT photography:

  • Verified ownership and authenticity

  • Preserved quality of photos

  • Smart contract feature for royalties

Our Predictions For NFT Photography In 2023

2022 has been nothing short of a roller coaster ride for the overall NFT space. 

We started the year with the same optimism as 2021 when everything was growing at an exponential rate. Everyone was trying to launch their own NFTs and capitalize on the unprecedented bull market run. 

It's no wonder why everything crashed just before this past summer. All of those NFT projects lacked the inherent value or authenticity to stand the test of time. Once things got shaken by the adjacent crypto markets, these volatile NFT projects dropped like domino pieces.

What does this mean for NFT photography?

Similar to other types of digital collectible art, photography has been riding a similar wave. 

When the markets were green, we saw quite a lot of sales. Once everything declined, sales followed.

The story is slightly different for blue chip photography NFTs coming from established photographers.

Regardless of the market situation, these unique photography NFTs and their subsequent editions tend to remain in demand.

This type of success could be attributed to the reputation and large presence of these world-renowned photographers.

Another factor at play is storytelling. You can read our article where we break it down, right here.

Conclusion

We expect this trend of limited photography NFTs to carry into 2023. People are always attracted to talented artists. Owning a magnificent piece of art is an aspiration of many.

It wouldn't be right to make any bold predictions but it is very likely that the majority of NFT photography platforms will be pushing for mass adoption. Those who are able to onboard the next wave of photographers into the NFT space will reap all the benefits.

Focus Market has a surprise for you as well. With that being said, we can't wait for the new year to start!

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