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Using Getty Images’ extensive image portfolio, Candy Digital will create a variety of NFT products and collections.
According to the report, Getty Images is entering into a distinct NFT niche known as Photography NFTs. It will curate photos from over 465 million images, including 135 million analogue images, in its archives. Many of these have never been seen by the general public. Consequently, Getty Images and Candy Digital will also unveil these archived photo collections in various digital formats. This will allow people to view and collect them for the very first time.
Regarding the collaboration, the CEO of Getty Images, Craig Peters, said:
“This partnership speaks to our mission to connect people with our high quality, exclusive visual content.”
He also noted the company’s delight in working with Candy Digital to reach a global audience. “The fast-growing audience of NFT collectors represents significant opportunities for the company and our global photographer community,” added he.
Scott Lawin, CEO of Candy Digital, also expressed his delight at the partnership. He noted the partnership will “creatively bring these iconic and rare photographs from the last two centuries to life for people to experience and collect in a new digital format.”
NFTs to Be Curated from Getty Images Collection
Using Getty Images’ extensive image portfolio, Candy Digital will create a variety of NFT products and collections. The initial collection will be available in the coming months. The NFTs will be minted on the Palm blockchain which is more environmentally friendly than the Ethereum mainnet. The Palm blockchain is also scalable and integrates seamlessly with Uniswap and Metamask.
Purchasing the digital collectables will be possible through the Getty Images marketplace built on Candy. Previously, Candy operated NFT marketplaces for Major League Baseball, the Race Team Alliance, and the WWE. Its platform supports primary and secondary markets with either card or crypto payments.
Lawin noted that the partnership also marked Candy Digital’s expansion from just sports to the world of digital entertainment, culture, and art.
Meanwhile, the vast majority of NFT collectors continue to reject Photography NFTs. Despite the growth of the niche, none falls within the top 100 collections on OpenSea based on sales.