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Getty Images Selects Candy Digital for NFT Minting on the Palm Blockchain

  • the NFTs by Getty Images are embossed on the Ethereum sidechain palmBlockchain
  • LimeWire recently partnered with UMG to allow artists signed to the entertainment giant to publish NFTs in an upcoming marketplace

British-American visual media company Getty Images has struck an agreement with digital collectibles company Candy Digital to issue its first non-fungible tokens (NFTs). According to an official announcement released Tuesday, the NFTs would be minted on the Palm blockchain, on the Ethereum sidechain.

Getty Images intends to draw material for its NFTs from its collection of more than 465 million images, including 135 million previously unpublished analog archival works. The sale of the tokens would take place on Candy Digital’s marketplace, with the firm also being tasked with developing said NFTs. The aim is to build up a diverse pool of digital collectibles in the long term.

“Through this partnership, Getty Images and Candy Digital will work together and create a diverse portfolio Develop from NFT products and collections drawn from Getty Images’ extensive library of more than 465 million images.” read the official press release.

Craig Peters, CEO of Getty Images, said the new offering allows the stock photos provider to dive into a new market to reach a new customer base. Candy Digital’s Scott Lawin noted that the NFTs would allow his company to expand its reach beyond sports to include culture and history.

Airdrop from VNSMART Getty Images Selects Candy Digital for NFT Minting on the Palm Blockchain, Crypto Trading News

“This partnership represents an exciting step in Candy’s evolution as we expand and diversify beyond sports and establish Candy as a leader in the worlds of digital entertainment, culture and arts.”

Getty Images said more than 30 million digital collectibles are minted annually.

LimeWire locks up UMG

Elsewhere, LimeWire — which recently relaunched as an NFT marketplace — has reached an agreement with iconic entertainment giant Universal Music Group (UMG), allowing artists to post their digital collectibles on the platform.

According to the official announcement, the partnership will allow all artists signed to Universal Music Group and its labels, including Def Jam Recordings, Capitol Records and Motown Records, to receive items such as backstage content, audiovisual material, bonus tracks, uncut demos and more more to share other art-worthy content with fans.

The partnership reflects the changing landscape around music and music sharing. With some big names including Taylor Swift, Kendrick Lamar and The Rolling Stones, the interaction between artists and their fans is already changing over time.

Source: Crypto News Deutsch

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