A guide to NFT Photography

up:date, 27 10 2021 by Bonn Brandt

NFTphotography creates a new revenue stream for photographers, photo estates, and collectors. Blockchain technology simplifies the licensing process by providing full transparency on how photographic work is being used. Smart contracts verify ownership and create a true status of uniqueness and authenticity.

Black and White photography re photographed on a wall reading Papiers
Bock-Schroeder by Bock-Schroeder

The time is right for NFT Photography

The pioneers of the new collectors and the art revolution are people who are not afraid of the conventional art market and its entrenched mechanisms. This is refreshing and invigorates the art world.

It is obvious that photography is in the process of recognising the signs of the times. The first classic PhotoNFTs already exist as unique digital assets supported by blockchain technology.

Just as with digital art, music clips, videos and animation, blockchain technology offers an exciting and lucrative new format for traditional film photography.

Museum visitor admires paintings
The Pushkin State Museum of Fine Arts, Moscow 1956

Selling photos as NFT

The possibilities of using NFT technology for the photographic art trade are a real enrichment in the truest sense of the word. The fine art photography industry, which has become a monopoly in recent years, now has the opportunity and responsibility to reinvent itself.

How the works of 20th century master photographers in particular fit into this new era is largely dependent on the adaptability of the copyright holders of master works.

What makes NFTs particularly interesting in the context of film photography is the association of the details recorded in smart contracts concerning negatives and vintage prints, and most importantly, the handling of copyrights.

Michael Jackson, Family and Stand-in land at Munich Airport
Michael Jackson lands at Munich Airport, 1999

The Bock-Schroeder Foundation is aware of the opportunities that arise from the novel application of NFTs. Currently, unpublished and rare works from the archive are being converted into NFTs and thus presented to a new dedicated international audience.

NFTs bring beautiful photography back

Female pilot in front of her plane
Aviator, Alaska 1952

NFT is an abbreviation that many are hearing for the first time, but is quickly establishing itself as one of the most important trends in the world of photography. The acronym stands for "Non fungible token" and refers to unique digital assets built on blockchain technology.

The significance of NFT photographs

Man seated and drinking Champagne in front of a large scale print of a Crypto Punk print
Metternich and the Cryptopunk #3100

At present time there are about 1000 serious photo collectors worldwide. These have been supplied to date by the approximately 20 leading photo dealers.

The market's usual high point used to be the Paris Photo Fair which, had to be cancelled in the last 2 years due to the pandemic. Art fairs have been surpassed globally by virtual hosted shows and auctions.

Nevertheless, a post-pandemic era has the potential to push the relationship and connection of grand photography with NFT technology in entirely unprecedented dimensions.

The vibrancy of NFTs is poised to create a much more vibrant and eager-to-buy generation amongst photo lovers.

The traditional gallerist has to be careful not to be sidelined by a lack of knowledge, technical incapacity or even indifference towards the new generation of potential clients.

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