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Sunday, September 25, 2022

Getty Images to introduce its first-ever NFTs, in collaboration with Candy Digital

According to a press release, Getty Images is developing a diverse portfolio of NFT products and collections derived from its extensive library of more than 465 million images, including over 135 million analogue images from Getty Images’ photographic archive. “Iconic and defining moments from the last 170 years of history are contained in this unmatched repository of photography, spanning the worlds of art, culture, music, world events, and more,” the company said in a press release.

Photography and NFT collectors will be able to purchase, sell and trade official digital collectables through the Getty Images marketplace on Candy, which will support credit card or crypto payments. The NFTs will be minted on the Palm blockchain, a scalable, environmentally friendly, Ethereum-compatible side-chain.

“With the very best content at our core, innovation is woven into the fabric of Getty Images and this partnership speaks to our mission to connect people with our high quality, exclusive visual content,” said Craig Peters, CEO, Getty Images. “We are proud to work with Candy Digital to expand our offering to the fast-growing global audience of NFT collectors, representing significant opportunities for the company and our global photographer community.”

The initial range of products that Candy Digital is creating will be derived from Getty Images’ owned content and will be made available in the coming months.

Meanwhile, Getty Images is also adding more than 30 million new digital assets to its platform each year, which will present opportunities to develop additional, more contemporary collections with Candy Digital over the course of this partnership as well.

“The introduction of photography represented a seismic shift in how we were able to document, store, and share our history. We’re thrilled to be working with Getty Images to develop NFT products that 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,” said Scott Lawin, CEO of Candy Digital. “This partnership represents an exciting step forward in Candy’s evolution as we expand and diversify beyond sports and establish Candy as a leader in the worlds of digital entertainment, culture, and art.”

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