NFT is the abbreviation for Non Fungible Tokens. A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
No, Really... What is it?
NFTs are a massive movement that are disrupting the world of art, photography and virtual visual assets. Throughout my career, I’ve always been at the forefront of innovative new technological trends, and this is no different (I moved to digital photography kicking-and-screaming — but will never look back.)
NFTs, or “non-fungible tokens” are designed to give you something that can’t be copied: the ownership of a photograph (though the photographer can still retain the copyright and reproduction rights, just like with physical photograph.) In terms of physical photography collecting: anyone can buy one of my prints, but only one person can own the original. That could be you!
My NFTs are traded in Ethereum. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports NFTs, which stores extra information related to the photograph.
Concerns for the environment and the carbon footprint associated with blockchain activity and minting NFTs are serious and are being successfully addressed.
The NFT marketplace I’m launching with utilizes the Ethereum Mainnet network. The ultimate goal is to be at the forefront of ethically traded NFTs — green NFTs. I decided to go with Ethereum as the future plans for Ethereum will underline my commitment to minimize the negative impact on our environment.
The Ethereum Merge Upgrade represents the official switch to the Beacon Chain and proof-of-stake (energy efficient) protocol, away from the proof-of-work (energy inefficient) protocol. This will signal the end of inefficient energy usage for Ethereum and start the era of a more sustainable, eco-friendly Ethereum. This upgrade eliminates the need for energy-intensive mining. A truly exciting step in realizing the Ethereum vision — more scalability, security, and sustainability — an environmentally friendly solution.
As an environmentally conscious photographer (and human), I will be limiting the number of photographs that will an available as NFT's on the current Ethereum Mainnet network. After the Merge Upgrade, in a more environmentally friendly environment, I will mint (release) more of my images.
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