Illustrators Corner - Microstock Illustrators Forum > Illustration - General

Illustrators (and photographers) We Need to talk about NFTs

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@Jo Ann, that's what I was wondering, if it might somehow be more profitable than stock. The way you explain it, though, it would be hard to get there, as the artist is now handling all the admin work which takes time away from making art. Seth Godin basically agrees in his blog, calling it a dangerous trap:

@melastmohican, Yes, those fees would further cut into how profitable this could be for your average artist. And then there are the "gas prices", the extra fees buyers have to pay. I can only see it being non-prohibitive for really high value art, artists, and collectors. In other words, a rich person's game. But you never know.

For what it's worth there are environmental arguments against it:

But now Artstation, a major showcase platform for artists has announced they are getting in the game:

They are taking the carbon offsetting route. One thing they mentioned that was interesting was how NFTs are supposed to continue earning the artist a profit whenever they are resold and change hands, but that breaks down when the NFT is sold on a different market than the original transaction. So they will be "incentivizing" resale on their platform so artists can continue making money.

Seems rather like there are a lot of loose ends to be worked out overall, if it is to be more than a flash in the pan. And I'm not so sure much of the buzz is because people see "crypto" and "blockchain" and don't want miss out on another bitcoin.

But it's certainly fascinating to watch where it goes.

I like Hive, as it has zero transaction fees. Used to be Steem, but all the good people moved, when Steem had some issues. I haven't got into NFT's, but they do have a marketplace, that might be worth checking out. I know almost zero about this, they do have a discord, so that might help
Edit, I see they have one for photos too
Edit 2, now I see they have fees too. Still not likely to be as expensive as Ethereuem, but too much for my liking.

Wow, I just learnt about this NFT thing today. It is really exciting, but then there's a lot of questions about it.

I understand that we still own the copyright of our work even after we sell the NFT, but can we continue to sell the vector/photo in marketplace like Adobe Stock, Dreamstime, and etc...?

I think NFTs will be great for photographers who are producing material that justifies things like limited edition print runs. I.e. not 99.99% of microstockers (myself included).
You are basically selling the right to say that you "own" a copy of something very exclusive. Banksy will love it.

For the average photographer and particularly for stock photographers it will be virtually meaningless unless your work is incredibly unique and hard to replicate. Continuing to sell your images on stock sites will reduce the value of the NFT to virtually zero.

Sean Locke Photography:

--- Quote from: Copidosoma on March 11, 2021, 11:25 ---Continuing to sell your images on stock sites will reduce the value of the NFT to virtually zero.

--- End quote ---

Except it wouldn't.  As I understand it, it doesn't matter how many "copies" are out there, the "original" still holds its value.

Of course, it all sounds like nonsense to me, but that's what I glean from what I've read.


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