 lawheadphoto.com - Larry Lawhead   Contact Larry Lawhead Larry Lawhead's Gallery |
Photos as Non-fungible token (NFT)? I saw a photo today on my Instagram feed that said in the description: "This photo is available as a 1/1 NFT". Anybody have any experience or knowledge about offering photos as NFTs? I get the concept of NFTs, as least sort-of. But how does it work in practice? Is this the future? I'd be interested to know people's thoughts, experiences, whatever...
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- Gregory LaGrange Contact Gregory LaGrange Gregory LaGrange's Gallery |
I'll begin my answer by explaining what I thought NFTs were when I first looked into what they were. I thought they were digital art/media made into a some kind of physical form that you could have, presentable in some way that looked official, that you could purchase. And the block chain was some kind of digital authentication that was embedded in order to prove that this is actual digital art from the artist. Think of those digital picture frames that are used to display digital photos.. Those are a physical version of digital art that you can look at and display. A digital version of limited print editions. However, from looking at youtube videos to find more information on NFTs, (granted I'm still not completely well versed, but I have a much better understanding) is that if you purchase a NFT, you are not buying the digital art. Or the digital file.. What you are purchasing is the data to where the digital art or file is located. I was confused at first when photographers would talk about getting royalties from the reselling of NFTs. And as I looked into how that would work, I came to realize that you are not buying the digital art at all. You're buying the location on the server. And the digital file at that location can be taken off, and replaced by some other file, and you would then own the same location that just had a different file stored on it. So somebody who goes to an NFT site and pays $2000 for a digital image will not be in possession of the image. But somebody who goes to the same site and right clicks "save image" will have the image. Anything can last as long as somebody willingly goes along with it, but I'm not seeing how the NFT craze will keep going. It just feels like another Beanie Baby craze that at some point somebody is going to point out what should have been obvious to all the NFT crowd and they are going to all ask themselves "then why did we go along with this?"
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