If you want to talk to me about "NFT Photography" be prepared for a really short conversation. It may offer two words and the second one might indicate I'd like you to go somewhere else.
There's been a lot said about "NFT Photography" and if you're new to this, the first thing you should know is that there is no such thing as NFT photography. I can't buy a lens that will help me take better NFT photographs. There is no location that offers a better chance to "shoot an NFT". Having an NFT doesn't improve the quality of my pictures. My subject will never say, I want a portrait like that but with an NFT in the background.
I can't stress this enough, but I'll say it here loud and clear.
NFTs have nothing to do with photography.
Yes, you heard that right.
So what are NFTs?
Non Fungible Tokens record digital ownership of an asset in a blockchain in a similar fashion to crypto currency. This means that a person would be able to prove ownership of a digital asset such as a photograph. Someone buying an NFT can say that they own that "original" image. They bought it direct from the artist and that they own the original.
Sounds brilliant in some ways, but who does it benefit?
Does it benefit me as a photographer?
Nope, it doesn't.
Because I already own that asset. As a photographer I own the rights to the images I create by default. An NFT does no more to protect those rights.
Does it transfer copyright of that image to the owner of the NFT?
No, it doesn't. They own the "original" image direct from the artist but they do not own the copyright (unless specifically handed over in a written agreement)
So who does it benefit?
At the moment, collectors seem to be the market for NFTs. People who buy them to add to a collection. It seems limited and most analysts agree that it's a bubble about to burst. It's thought there is an artificial, short term interest in NFTs and that the initial speculation will only carry it so far.
So it appears that people are gambling on NFTs. I think there will be some winners (already have been, some have sold for millions) but in the long run most will lose.
So please don't talk to me about NFT Photography. It doesn't exist. It has nothing to do with photography. It adds nothing to the end product, nothing to the creative process. it's not just irrelevant, I think it's harmful to the craft.
It's a scam and I want nothing to do with it.