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NFTs and Photography - A trend to ride?

Over the past month and a half, our NFT's analysts have focused particularly on the photography sector. We seriously think that this fast-growing trend can give great monetary satisfaction.

In particular, one project that caught our attention:

we are talking about the Twin Flames photo collection of Justin Aversano, an American photographer active in the art scene between Los Angeles and New York City.

The collection has been very successful in the world of nfts collectors, with a floor price of 125 eth and volumes over 4k eth winning first place among the best projects in the "nft photography" category.

Before Twin Flames, our overall picture of the nfts landscape was as follows:

80% digital arts and collectibles, 10% real estate (land), 8% other, and a 2% to photography.

Photography has from the beginning placed itself in a small space at the far end of the nfts scene. Twin Flames has turned the tables, opening up a new business for photographers (just as happened to digital artists in early 2021).

We believe that photography can become the new trend in nfts, opening the door to a more mainstream market.

A whole new concept of photography

Why has Justin Aversano achieved so much success?

Why has his collection reached the top 30 ranking on opensea?

The answer is Community.

Like any self-respecting nfts project, Twin Flames has its own Discord server.

It is within the server that there has been a ceaseless effort of activity and interaction, consolidating over time a solid global community that is extremely interested in the project. We talked about the importance of Discord here.

The "process" of creating a community is the key to consolidating an nft project, the problem is? how?

The pattern to follow is the usual: NFT (eth/sol) + Twitter + Discord = Community.

Exactly as in collectibles or digital arts, building a real community behind the project is achieved by using the right platforms, being consistently active and last but not least ... having a desire to be part of something new.

On discord servers people share everything: opinions, memes, support each other, laugh and cry. Any time is good to see someone posting something, and that's the way to identify a real community, continuous interactions of all kinds and topics. Obviously the basis of the community is the shared interest by all of the supported project.

Justin's photographs have in a sense become social tokens, owned by the community; the more the community grows, the more the tokens (photographs) increase in value. This reminds us very much of the basic principle behind a decentralized autonomous organization (DAO).

The same thing has happened to NFT's collections that have gone down in history such as Bored Ape Yacht Club, CryptoPunks, CoolCats etc. etc...

What do they have in common? They have all transcended art by becoming tokens of the people and thus representing a valuable resource for the entire community (at least in the eyes of collectors and investors).

What is the next step?

What prevents photography from achieving the same status that, for example, generative art has achieved with NFTs ?

The current market for NFT photography is very small compared to generative art and collectibles. For comparison: the market capitalization for photographic NFTs ranges from $100-200 million. This is less than a single collection of Art Blocks (Fidenza) at the base price (close to $800 million).

We talked with some photographers and content creators to understand what are the main problems related to the development of this market to try to imagine its evolution. Our considerations are as follows:

There are many photographers in the world, and many propose work of extreme quality. In Italy, for example, there are internationally known photographers who could have considerable success in the nfts world, but most of them seem not to have it clear yet.

The main concerns are related to 'onboarding (how to coin an NFT, where to do it, how to evaluate one's work, how to market), once you get past this aspect comes the risk and fear of failure: " will I sell? will it affect my image? will I be able to have a community?"

In addition, most artists do not want to be a community manager, that is, to manage and participate on a daily basis with their community.

The reason is simple, this takes a lot of time and effort and can be a great cost in terms of time to take away from one's craft: photography.

What we must keep in mind in any business is the "need" that a service fulfills and ask ourselves, does such a need exist? In this case the answer is yes, there is a real demand.

People tend to like photography in general. It is art and is a true universal language, plus it can be much easier to understand than generative art and collectibles.

Currently, the demand for NFT photography is still relatively timid and most artists still do not feel confident with the whole defi and nfts ecosystem.

Many professional photographers come from a completely different set of backgrounds such as fashion, automotive, fine art, documentary, etc...

But the NFT space, where provenance does not matter and community is the only thing that matters, requires photographers to take a completely different approach to their collectors and buyers.

We think that very high-profile photographers can achieve success regardless of their community-in the same way that Damien Hirst was able to succeed with "The Currency"-there is therefore a need to research the top-rated photographers and prepare for their eventual collection of NFTs. 

We also believe that the real home runs will be the photographers and content creators who truly build a community, from the ground up.

Finally, we would like to signal the site Quantum.Art, created by photographer Justin Aversano.

It is a launch platform for renowned photographers, although it was recently launched it has already built a strong credibility in the industry, establishing itself in the world of NFTs collecting. To date, has launched the photographic collections of 6 artists, including Justin, with each launch being a resounding success.

Are you a photographer or content creators? Do you want to publish your collection as nfts?

Let us know in our discord server.


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