- SLiC Images, a rights management platform for photography and video, backed by NFT technology, is set to revolutionize the photography industry.
- The platform offers opportunities for photographers and other artists to maintain ownership of their works and profit from them through split ownership features that ensure every party associated with a work receives royalties generated by it on every resale.
- NFT technology will enable creators to tag their works with unique digital signatures, license them for commercial use, and maintain split ownership while generating royalties on every resale.
Decentralization and photography
Decentralization and Non-Fungible Tokens (NFTs) are being hailed as the next revolution in the photography industry. The world of photography and videography has never been more critical in sports, music, and entertainment. Despite this centrality, photographers often get a raw deal from corporations benefiting from their labor. The advent of blockchain technology could help photographers have more control and monetize their works.
Baron Davis, a former NBA All-Star, and tech entrepreneur is set to launch SLiC Images, a rights management platform for photography and video, backed by NFT technology. It is built to facilitate the distribution and monetization of independent cultural content. SLiC Images will allow creators to tag their works with unique digital signatures and license them for commercial use, for clearly delineated timeframes via a transparent bidding process.
The blockchain technology in the SLiC Images platform offers opportunities for photographers and other artists to maintain ownership of their works and profit from them. The platform will enable photographers to have ownership in the channels, relationships, and partnerships that their work creates. They get to benefit from it through the split ownership feature that ensures every party associated with a work continues to receive royalties generated by it upon every resale.
NFT technology could have an immediate and far-reaching impact on the heavily centralized world of image licensing. According to Nate Geier, the co-founder of Mintbase, which granted SLiC Images $250,000, NFTs offer the flexibility to add a permanent license to a photo, upload it to a market, start a bidding war, auction it off, and stick it on a blog within five minutes. Photographers, as a collective, can control the channels, relationships, and partnerships created from their works, providing them with the freedom and flexibility they need to pursue their creativity.
Despite the positive impacts of NFTs in SLiC Images’ core function, Baron Davis is hesitant to associate the contentious technology with his platform. According to him, they will start by selling a useful product to users, rather than focusing on the product’s technical composition.
In summary, SLiC Images, backed by blockchain technology, will revolutionize the photography industry by providing a platform where photographers can have ownership and monetize their works. The SLiC Images platform’s NFT technology will enable creators to tag their works with unique digital signatures, license them for commercial use, and maintain split ownership while generating royalties on every resale.