A new trend in NFT

Today I'm going to talk about in a relatively new trend in NFTs...one related to photography. In particular, a project that caught my attention is the Twin Flames photographic collection by Justin Aversano, an American photographer active in the art scene between Los Angeles and New York City.
The collection has been very successful in the world of nfts collectors, with a floor price of 125 eth and volumes over 4k eth, winning the first place among the best projects in the category "nft photography".

From the beginning, photography has placed itself in a small space at the far end of the nfts scene. Twin Flames has turned the tables, opening up a new business for photographers (just as it did for digital artists in early 2021).

A whole new concept of photography

Why has Justin Aversano achieved so much success? Why has his collection reached the top 30 ranking on opensea?

The answer is Community.

Like any self-respecting nfts project, Twin Flames has its own Discord server.

It is within the server that a relentless effort of activities and interactions took place, consolidating over time a solid global community and extremely interested in the project.

Exactly as in collectibles or digital arts, building a real community behind the project is achieved by using the right platforms, being active with constancy and last but not least ... being willing to be part of something new. Obviously at the base of the community there is the shared interest by all of the project supported.

Justin's photographs have become in a certain sense real social tokens, owned by the community; the more the community grows, the more the tokens (photographs) increase in value. This reminds us a lot of the underlying principle behind a decentralized autonomous organization (DAO).

The same thing has happened to NFT's collections that have gone down in history such as Bored Ape Yacht Club, CryptoPunks, CoolCats etc etc....

What do they have in common? They have all transcended art by becoming tokens of the people and thus representing a valuable resource for the entire community (at least in the eyes of collectors and investors).

What's the next step?

What is preventing photography from achieving the same status that, for example, generative art has achieved with NFTs ?

The current market for NFT photography is very small compared to generative art and collectibles. For comparison: the market capitalization for photographic NFTs ranges from $100-200 million. This is less than a single collection of Art Blocks (Fidenza) at the base price (close to $800 million).

We talked to some photographers and content creators to understand what are the main problems related to the development of this market and to try to imagine its evolution. Some considerations:

1. there are a lot of photographers in the world and many are proposing extremely high quality work, but most of them don't seem to have it figured out yet.
2. the main concerns are related to 'onboarding (how to coin an NFT, where to do it, how to evaluate their work, how to market), once passed this aspect comes the risk and fear of failure: " will I sell? will it affect my image? will I be able to have a community?"
3. most artists don't want to be a community manager, that is, manage and participate with their community on a daily basis. The reason is simple, this takes a lot of time and effort and can be a big cost in terms of time to take away from your craft: photography.

What we must keep in mind in any business is the "need" that a service satisfies and ask ourselves, does that need exist? In this case the answer is yes, there is a real demand.

People tend to like photography in general. It's art and it's a true universal language, plus it can be much easier to understand than generative art and collectibles.

Currently, the demand for NFT photography is still relatively tentative and most artists still don't feel confident with the whole defi and nfts ecosystem.

But the NFT space, where provenance doesn't matter and community is the only thing that matters, requires photographers to take a completely different approach to their collectors and buyers.

I think very high profile photographers can be successful regardless of their community, I also think the real home runers will be the photographers and content creators who really build a community, from scratch.

Finally, I'd like to point out the site Quantum.Art, created by photographer Justin Aversano.

It is a launch platform for renowned photographers, despite being recently launched it has already built an image of strong credibility in the industry, establishing itself in the world of NFTs collecting. To date Quantum.art has launched the photo collections of 6 artists, Justin included, each launch has been a real success.

Thanks for reading

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