In 2006, when Edward Steichen’s 1904 photograph Pond-Moonlight sold for $2.9 million, setting a record at the time, just three prints of that image were known to exist in the world. All three were created with Steichen’s supervision, making them irreplaceable. Back then, it might have seemed inconceivable that art collectors would pay millions of… Continue reading How rarity and exclusivity impact the value of NFTs
Category: cryptocurrency
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How to price your NFTs
In 2017, the creative technologists at Larva Labs created a collection of 10,000 unique pixel-art characters. They then offered them to anyone with an Ethereum wallet, and they were quickly snatched up. Some were sold soon after, for around $30. But it wasn’t until 2021 that the project, CryptoPunks, would become a household name. In… Continue reading How to price your NFTs
The 500px guide to understanding NFT and crypto buzzwords
As you might have heard, “NFT” was chosen as Collins Dictionary’s Word of the Year for 2021. The abbreviation for “non-fungible token,” a new kind of digital asset, has exploded in popularity, with everyone from blue-chip auction houses to emerging photographers talking about the next frontier for art in the age of the internet. Within… Continue reading The 500px guide to understanding NFT and crypto buzzwords
The importance of community in the NFT space
“I think ‘Fine Art’ is going to become an outdated term,” curator Iris Nevins tells us. “In many ways, it’s used to denote the difference between art that has been ‘approved’ by elitist institutions and art that is not. In the world of NFTs, institutional opinions don’t have the same level of power anymore. It’s… Continue reading The importance of community in the NFT space
NFTs, crypto, and what they mean for commercial Licensing
This fall, Sotheby’s made waves by announcing the launch of its NFT marketplace, Metaverse, with the storied auction house planning a landmark biannual auction called Natively Digital. This move followed a string of high-profile NFT sales that shook up the art world—and attracted the interest of photographers and photography collectors around the world. NFTs have… Continue reading NFTs, crypto, and what they mean for commercial Licensing