Source | Photofocus
If you’ve been online in the last few weeks, you’ve probably seen people talking about the NFT art craze. NFTs, or non-fungible tokens, are unique (that’s the non-fungible part) units of data (that’s the token part) that live on the blockchain for different crypto currencies (mostly Ethereum).
I talked to photographer and digital artist Saksham Thukral, who is diving into the NFT world, about what NFTs mean for photographers working in this space.
What is NFT art?
In a process called “minting,” artists are using NFTs to represent one-off, collectible forms of digital work (such as artworks, audio, video, animations and so on) — and selling them, sometimes at incredible prices, to NFT collectors.
The ability to trade unique digital works, without limiting their ability to broadcast, share and promote the work, is exciting artists who are diving into this space headfirst. As Saksham says, “The most important factor that attracted me toward the NFTs and CryptoArt market was the freedom of rules. For example, the copyright. So here if I sell an image, I still retain the copyright (unless I specify otherwise), while the buyer technically possesses the image. And that was important for me as I still wanted to continue using the same photographs in future exhibitions, competitions as well.”