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Getty Images Gets Into NFTs, Are They the Future of Photography?

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Getty Images to launch NFT Marketplace with Candy Digital
19
May
  • The artists’ community believed that entering into the NFT space has given them opportunities.
  • Getty Images signed a multi-year partnership with NFT ecosystem developer Candy Digital.
  • Photography-based NFTs are known to increase a creator’s revenue.

Getty Images, a popular supplier of editorial images, video, and music, has signed a multi-year partnership with NFT ecosystem developer Candy Digital. The collaboration is said to launch a range of NFT products from Getty Images’ sizeable library, made up of nearly 500 million images.

In addition, BusinessWire revealed that Getty Images’ analog archival photographs, which the general public has never seen before, will be unveiled, together with some contemporary images in a variety of different digital formats made by Candy Digital.

Financial terms were not yet disclosed as both parties are still preparing to release digital formats of rare analog works and modern images that will feature culture, art, and world events. NFT collectors will be able to purchase, sell, and trade the digital collectibles using credit cards or crypto payments through the Getty Images marketplace on Candy.

With the very best content at our core, innovation is woven into the fabric of Getty Images and this partnership speaks to our mission to connect people with our high quality, exclusive visual content.

Craig Peters, CEO of Getty Images.

Despite the relatively recent development of NFT photography, many believe the opportunities in this field are exciting and growing rapidly as NFTs are known to increase a creator’s revenue.

In a blog written by a world-renowned fine art landscape and nature photographer Aaron Reed, digital artists are said to have struggled to maintain their work’s sovereignty as images can be easily downloaded and passed on from one file to another.

With the rise of the cryptocurrency and blockchain industry, society becomes more digitalized. And the artists’ community believed that entering into the NFT space has given them opportunities to provide greater security, recognition for their work, and even profitability.

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