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ANALOG: NFT and photography – ViceVersa Magazine

If we have learned anything throughout our lives, it is that technology does not stop. Technological advances appear on many occasions to facilitate some tasks or to make processes even more efficient. In recent years we have been hearing about the blockchain, and while it is true that cryptocurrencies are the most popular asset, there is one in particular that could change the way analog photography is perceived: NFTs.

With analog photography, determining the originality of a piece was not very complex, that responsibility rested on the negative, that unique and unrepeatable article. Copies were reproduced from that negative, which the photographer authenticated manually.

One of the particular criticisms of digital photography is how to guarantee the authenticity of an image, and the way in which this “asset” can be commercialized and that royalties to the author are respected. Of course, metadata can be used to encrypt the author’s information, but it is still an inefficient mechanism due to the easy reproduction of the file (photographic image). Will NFTs be the solution to this dilemma?

NFTs (non-fungible token) can be translated as “non-fungible token” or “non-fungible asset”, it refers to a digital asset that is unique, that cannot be modified. A pedagogical analogy would be to try to understand a NFT as a unique work of art, for example, the Miranda en la Carraca by Arturo Michelena, there are several copies, but there is only one original that is authenticated and is in the National Art Gallery in Caracas.

Thanks to blockchain technology and smart contracts, any digital content can become an NFT, that is, it can be provided with metadata that guarantees its authenticity, identifying the author, initial price, and each of the transactions that it has had since its creation. .

Creating an NFT is very simple. More and more platforms are opening that facilitate their creation and commercialization. But not everithing that shines is gold. Most of the platforms on which these assets are marketed charge a commission (gas fee) that the author must assume to put his work up for sale. Paying the commission and placing your piece for sale is not a guarantee that you will sell it. So you have to take a risk.

It is necessary to have a wallet, they recommend Metamask for being one of the best known and working with the Ethereum network. Payments, when selling your work, you will receive in the cryptocurrency Ethereum (ETH).

In the case of Venezuela, we have some restrictions, OpenSea, one of the most popular platforms for NFT, has blocked us. But there are spaces like Mintable, Rarible, or DoinGud where we can join this developing space.

This is an environment in full growth, which is developing in line with the needs and conditions of the market, so it is necessary to document week after week to track progress in this area.

It is a good time to start researching this fascinating ecosystem that could bring great benefits to photographers, perhaps even generate a photographic market with collections, series, essays, portfolios, benefiting both artists and new collectors.

Photo by: Luis Cabrera ©

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