Getty Images to issue millions of its own NFTs

Getty Images has announced the launch of a non-fungible token (NFT) marketplace on the Palm sidechain using Ethereum.

According to a press release, Getty Images has turned to digital collectibles specialists Candy Digital to transfer some of its stock photos to the blockchain, selecting the best from an archive of 465 million images.

«NFTs are creatively bringing iconic and rare photographs from the last two centuries back to life for people to collect and explore in a new digital format,» said Scott Lowin, CEO of Candy Digital. Candy Digital is also a partner of Major League Baseball, Race Team Alliance and World Wrestling Entertainment (WWE).

The NFT Getty Images trading platform will accept both fiat and cryptocurrency payments.

It is worth noting that similar experiments on converting photos to NFT are already underway. For example, the South China Morning Post is minting part of its photo database in NFTs, but this part of the market is not yet in high demand among the audience.