Getty Images is gearing up to launch new photography NFTs to individual collectors. Through its partnership with Candy Digital, the visual content creator, Getty Images, will turn photographs from its 1970s music and culture collection into NFTs.
The new collection follows a partnership forged between Getty Images (NYSE: GETY) and Candy Digital in May 2022. At the time, the CEO of Candy Digital, Scott Lawin, argued that 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.” Lawin believes that partnering with Getty images is connecting the company with a new kind of audience.
Also, the CEO of Getty Images, Craig Peters, noted that the partnership with Candy Digital will advance the company’s mission to connect people with exclusive visual content. He also said, that “The fast-growing audience of NFT collectors represents significant opportunities for the company and our global photographer community.”
The collection will include the works of Don Paulsen, David Redfern, Fin Costello, Richard Creamer, Steve Morley and Peter Keegan. By March 21, these collections will be available on Candy Digital’s website for open minting. Their prices will range between $25 and $200. It will be available for purchase in the United States (and territories), Australia, Hong Kong, Japan, the UK, and some European countries.
Meanwhile, Candy Digital will also give introductory NFTs to volunteers between March 7 and 15.
Photography NFTs Introduced as NFT Market Surges
The collection’s launch coincides with a reversal in the downward NFT market trend. After a turbulent 2022, trading volume has grown for four consecutive months. In January, NFT sales increased by 41.96%. By February, NFT trading exceeded $2 billion, amounting to about a 117% increase from the January figure.
However, there are indications the surge in NFT trading may not be a result of a renewed interest from the public in NFTs. the surge appears to be due to the emerging NFT marketplace, Blur. Blur is offering mouth-watering incentives to customers for trading high-value NFTs and for using only its platform for their trades.
Despite the questions arising about the legitimacy of Blur’s tactics, OpenSea’s monthly trading volume increased by 18% in February while dropping creator royalty fees.
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