Canon’s Land Grab on Photography NFTs

Article source, here.

TL;DR

• Canon is launching a curated marketplace for photography NFTs.

• Our guess is it'll be 'invite only' for creators, creator royalty enforcement will be guaranteed, and buyers will be able to pay extra to get physical prints.

• We’re predicting that this will be the start of a new trend, of niche focused NFT marketplaces (compared to broad spanning platforms like OpenSea).

Full Story

Did you know Amazon.com was almost called 'Cadabra.com'?

As in, 'abracadabra, and your items magically arrive at your door.'

But ol' Jeffrey pivoted on the name when someone misheard it as 'cadaver.'

Now, some 25 odd years later, camera company Canon is taking the name for itself - or rather, for its curated marketplace for photography NFTs.

Canon has remained tight lipped on how its new marketplace will operate, but says it will share information about Cadabra’s first drop later this year.

Here's our guess at how Cadabra will work:

• It'll be 'invite only' for creators.

• Creator royalty enforcement will be guaranteed.

• Buyers will be able to pay extra to get physical prints.

• The over arching goal being for Cadabra to carve out a name as 'the' place to go for high art NFT photography.

Here's our guess at what comes next:

A land grab for NFT niches.

Right now, we're in the 'eBay era' of NFT marketplaces - where each marketplace does a little bit of everything.

Illustration, collectibles, photography, painting, gaming...you name it, marketplaces like OpenSea, Magic Eden, and Blur, have it.

Our guess is platforms like Cadabra will usher in the 'Shopify era' of NFT marketplaces (or at least that's what we're calling it).

Shopify powers ecommerce - just like eBay - but each Shopify store focuses on its own siloed product niche (clothing, bedding, art, electronics etc.).

And that's the trend Cadabra represents. A well calculated land grab on a growing niche - in this case, photography NFTs.

As the saying goes: niches get riches.