Canon USA, one of the leaders in the photography industry, is taking an important step into the future. The company announces today its plan to launch an Ethereum-powered NFT marketplace for photography called Cadabra.
This new venture will allow photographers to sell their digital photos as their own non-fungible tokens (NFTs) on the blockchain. Thus creating exciting opportunities for both creators and collectors. With the rise of NFTs and blockchain technology, Canon’s Cadabra platform could become a turning point in the photography industry and pave the way for new possibilities in the world of digital art.
Cadabra is set to launch in late 2023 after an initial preview at the NFT.NYC event. As a curated marketplace, Cadabra will offer tokenized photography across multiple categories. “The digital art will range from landscape, wildlife, lifestyle, sports, abstract, and other categories to spotlight the stunning work of the invited creators,” Canon says.
Canon has not disclosed the photographers who will join the platform, but Cadabra will showcase initial releases of photo collections as well as a secondary marketplace for the resale of NFTs.
Canon’s upcoming NFT marketplace for tokenized photographs will initially launch in the US. Cadabra will support cryptocurrency wallets and credit/debit card purchases. The marketplace will use the Ethereum blockchain to mint digital art.
