As the photography business increases its footprint in the Web3 space, Canon USA is preparing to launch a brand-new NFT marketplace, “Cadabra,” focused on photography. Following a successful NFT drop in 2022, this is Canon’s first significant entry into the Web3 market.
Various kinds of tokenized photographs will be available on the Cadabra marketplace. Participating artists can sell tangible prints of their work, giving them new sources of income. Canon will fill orders for these prints, and the market will accept payments made with credit/debit cards and cryptocurrencies.
The Cadabra marketplace will offer initial drops of photo collections and a secondary resale market. Additionally, it makes priceless and one-of-a-kind digital artworks available to collectors.
Canon will debut the marketplace later in 2023 after previewing it at the NFT NYC conference this week. The Cadabra marketplace will compete with Other photographic NFT marketplaces like Quantum Art and Sloika.
Both Isaac “Drift” Wright (“Where My Vans Go?”) and Justin Aversano (“Twin Flames”) have produced significant photo NFT collections which can help them get featured on Cadabra.
The photographers that Canon will showcase on the site are still a mystery. However, the corporation has promised various genres, such as landscapes, sports, animals, and lifestyle. The growth of NFTs has offered collectors access to rare and valuable digital artworks and new money streams for artists.