Do you own a Photo Denbow original?
In the not-too-distant future we’ll see more cryptocurrency usage as well as the purchases of NFTs. What does that mean for photography and photographers? Getting paid. There is a massive market for digital artwork now, and getting paid in cryptocurrency is driving this. It seems many crypto-traders have more than they know what to do with and are investing in NFTs or digital art.
Once an artist uploads, or mints, their work it is up for auction to the highest bidder. The current exchange rate for today, 11/9, is $4,700 to 1 Etherium coin (ETH.) The highest bidder is now the proud owner of digital art that no one else owns or has access to.
How is this a market? Who is buying all these original works? Would there be an interest if I minted my first NFT? How does it work? I don’t have the answers, but I will have fun learning.