These days, virtually everything can be minted and sold as an NFT, from artwork to videos, and much more. But even with all these genres of NFTs coming out, they are not all equally popular.
According to a report from e-commerce specialist Remarkable Commerce, photography is by far the most lucrative NFT sector for creators.
Life in NFT Pictures
We’ve seen a lot of picture-based NFT projects lately, including ones featuring Heath Ledger and Pamela Anderson. And according to what Remarkable Commerce uncovered, they are bringing in a serious profit. The company carried out its study on OpenSea, looking at 700 collections and comparing their earnings.
From what the study found, the average floor price for a photography NFT on OpenSea is £897.15. For comparison, the average floor price for a collectable NFT is £435.76 and the price for sports NFTs is £64.08. By that comparison, a photography NFT collection could bring in as much as 2,000% more in revenue compared to others.
For those who are looking to make a living selling NFTs, this offers some insight. For example, the average photography NFT seller could purchase an engagement ring by selling about 4 NFTs and could pay for a wedding after selling 23.
And as Brad Houldsworth, the head of product at Remarkable Commerce puts it, the NFT sector could offer immense benefits for photographers.
“NFTs can help photographers to be better credited for their work, and make more of a direct income from their photos. As the world becomes more digital and the metaverse looks set to disrupt the way that many businesses trade and talk to their customers, it’ll be interesting to see how businesses consider NFTs in their growth strategy,” he says.
Learn how to make an NFT photo >> Here
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.