A Beginner’s guide to NFT for photographers

Written by: Sauvik Chatterjee

Sometimes the market for photographers might go down because of certain conditions. In these times, the photographers would find themselves not having the financial stability to sustain themselves. NFT or Non-Fungible Token could help photographers in those tough times. Learn what it is and how it could help you in this blog.

What are NFTs?

The definition of non-fungible is that the commodity is unique and the same value cannot be received against it. These non-fungible commodities are termed as ‘tokens’ here which are nothing but digital assets which are supported by a blockchain. It is the blockchain that secures the cryptographic or digital asset. Cryptocurrencies like Bitcoin or Dogecoin use blockchain to prevent any form of cheating or hacking. Blockchain also sees to it that the data of the asset cannot be changed. So you can see that this is a secure way of marketing your photographs.

Don’t worry if you are not used to the intricacies of cryptocurrency usage. NFT platforms like OpenSea and KnownOrigin allow their users to use credit cards for transactions.

What is in store for the photographers?

As a photographer, you might click some photos which are not meant for your clients. You could turn these into NFTs and it might act as insurance during your time of financial instability. 

Several photographers have earned a fortune after selling their NFT photographs. Mike Winkelmann, a digital artist, who is also popularly known as Beeple, sold a single JPG file in an online auction for $68.3 million (roughly Rs. 503 crores).

At the end of the day, an NFT is a commodity for a market. As an artist or photographer, you need to determine if the image you’re selling will be desired by the consumers. Putting your image as an NFT is not free, you have to pay a certain fee to keep your image in the market. So, be aware of these conditions before putting up an image for sale.

Every photograph is in digital form and even if some are still in their ancient form you could turn it digital easily. So, photographers can easily use this NFT format. After reading this blog, you should have a basic knowledge of what an NFT is. Try to use this opportunity as it could turn out to be quite profitable for you.

Written by: Sauvik Chatterjee

Back to blog