$83,833.00
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-5.74%Reading
Watch out, Shutterstock—Getty Images is getting into NFTs.
The NFTs—unique blockchain tokens that signify ownership—will be minted on the Palm blockchain, an Ethereum-compatible sidechain. Getty Images will draw from its collection of over 465 million images, including 135 analog photographs, with a focus on turning never-before-seen archival works into NFTs.
Primary and secondary sales for the NFTs will occur on Candy’s marketplace, which already has partnerships with Major League Baseball, NASCAR, and WWE.
According to a statement, Getty Images CEO Craig Peters sees NFTs as a way to tap into a new market and customer base, while Candy Digital CEO Scott Lawin sees the partnership as a way for Candy to offer new NFTs that touch upon culture and history, beyond the world of sports.
Photography NFTs have already carved out a niche separate from the world of Bored Apes, CryptoPunks, and Okay Bears. Photographers like Cath Simard, Elise Swopes, Randall Slavin, Aimos Vasquez, and Anna McNaught have sold photos for thousands of Ethereum (ETH) each, and OpenSea has a “trending photography” category.
Infura co-founder and general manager E.G. Galano talks to Decrypt's Kate Irwin about what Infura does, how the Bored Ape Yacht Club could have avoided the hiccups with its Otherdeed NFT mint, other hot NFT collections like Moonbirds, and Ethereum's gas fee issues.
In the world of photography, NFTs also have been a controversial topic, with some concerned about the energy consumption of various blockchains. But the ConsenSys-backed Palm blockchain claims it uses 99% less energy than the Ethereum Mainnet. Since launching last year, Palm also is compatible with the decentralized exchange Uniswap and the crypto wallet MetaMask.
The NFT community at large, however, appears less interested in photography and more interested in trading the metaverse or profile picture project of the week. Notably, the top 100 collections on OpenSea—whose marketplace still makes up the vast majority of all NFT sales—does not include a single photography collection.
A CryptoPunks owner sold their NFT for $6 million worth of Ethereum on Thursday, netting a $10 million loss in the process. CryptoPunk #3100, one of nine Alien Punks in the 10,000-piece collection and the only one with a headband, sold for 4,000 ETH or about $6,076,840 at current prices via a private offer on the CryptoPunks marketplace. The deal was allegedly brokered by crypto art brokerage Fountain. The anonymous seller had initially purchased the #3100 in March 2024 for 4,500 ETH, or aroun...
After teasing a big announcement and an announcement of an announcement, Magic Eden has finally revealed the news: It’s pivoting into fungible token and meme coin trading across multiple chains. In a move signaling its growing ambitions beyond NFTs, Magic Eden revealed Wednesday that it will acquire Slingshot Finance, the mobile-first crypto trading application known for its cross-chain swaps and retail-friendly interface. The acquisition strategy positions Magic Eden as an alternative to tradit...
Crypto game Aavegotchi is set to migrate from one Ethereum scaling network to another following a successful community vote—and in the process, another gaming-centric network is set to bite the dust. On Tuesday, a DAO vote for Aavegotchi to migrate from Ethereum sidechain network Polygon to Coinbase's Base layer-2 network reached quorum. The proposal, written by Aavegotchi developer Pixelcraft Studios, suggested that the game "perform a full, 'all-in, no-looking-back' migration to Base." Aavegot...
