Getty Images Goes NFT in Partnership with Candy Digital

Following last week's TerraUSD (UST) catastrophe, NFTs have resurfaced in the spotlight. Getty Photos, Inc., a visual media firm that provides stock images, editorial photography, video, and music to companies and consumers, was founded in March 1995.

Getty Photos has amassed a collection of over 465 million images since its inception. There are 135 million analog pictures in all. The library spans the past 170 years of history by purchasing older picture agencies.

Getty Images is targeting the NFT sector with its strong brand and excellent portfolio.

Getty Pictures In Collaboration with Candy Digital, Enters the NFT Space

Getty Images established an exclusive relationship with Candy Digital to launch its first NFTs on Tuesday.

"Getty Images, a leading global visual content creator and marketplace, and Candy Digital, the next generation digital collectible company, today announced a new multi-year partnership agreement that makes Candy Digital the exclusive developer and marketplace for Getty Images NFTs," according to the press release.

"Through this relationship, Getty Photos and Candy Digital will cooperate and produce a diversified range of NFT products and collections generated from Getty Images' large archive of over 465 million images," the release said.

More than 135 million analog archive images are housed in the vast collection. Many of these photographs have never been viewed by the general audience. These works will be released as NFTs by Getty Images and Candy Digital for users to browse and collect.

"With the very best content at our heart, innovation is built into the fabric of Getty Images, and this relationship speaks to our objective to connect people with our high quality, unique visual material," said Getty Images CEO Craig Peters.

"We are happy to cooperate with Candy Digital to broaden our service to the fast-growing worldwide audience of NFT collectors," Peters said.

Every year, Getty Images expects to add "more than 30 million new digital assets to its platform."

Getty Images is the latest mainstream company to attack NFTs. Candy Digital expects its partner list to increase as interest develops.

The NFTs will be produced on the Palm blockchain, which is an Ethereum (ETH) side-chain.

The Associated Press joined the NFT sector earlier this year to commercialize its work.

New Partnerships are Increasing in the Palm NFT Ecosystem

The Palm Network promises to be 99 percent more efficient than proof-of-work-based blockchain networks for the ecologically concerned.

Warner Brothers, METAMASK, Chainlink (LINK), DC, and Candy Digital are among the Palm partners.

DC teamed up with Palm NFT Studio to release its first NFT collection in 2021. Palm's ecologically conscientious approach to NFTs was one of the reasons DC chose them as a partner.

"Palm shares our ecologically conscientious approach to NFTs," according to the Warner Brothers release. When compared to Proof-of-Work systems, Palm's blockchain uses 99.99 percent less energy, allowing DC's platform to generate millions of NFTs for fans at near-zero cost."

By bringing a large audience into the industry, Getty Images has the potential to transform the landscape.