TL;DR Breakdown
• Photography social network believes the future is in trading non-fungible tokens.
• Viewbug promises to give photographers high profits by auctioning off their images as NFTs.
The Viewbug website, dedicated to photo publishing and commenting, recently discussed its partnership with the NFT MetaFrames company. In this way, the interface could develop, store and authenticate the photographs to give value to its published images.
The social network for photo publishing and sharing was launched in 2012 by Jaime Lozowsky and Ori Guttin. Since then, the interface has served so people can interact through visual content and thus gain followers. And after almost a decade in operation, Viewbug thinks it is only fair to renew its operations towards new technologies backed by the Blockchain network.
NFT trading coming to Viewbug
More than a year after non-fungible token trading peaked in popularity, Viewbug, a social network dedicated to storing photos, is motivated to benefit from the scheme. The company developed by Lozowsky and Guttin has partnered with MetaFrames to create new virtual pieces and put them up for auction.
Both companies indicated that the partnership brought them a great benefit, increasing their profits by at least $100 billion. This pact between the two companies was generated after NFT trading raised about $25 billion by 2021. It is estimated that in 2025 the negotiations with non-fungible tokens will reach about $80 billion.
Research shows that Viewbug has about $3 million users worldwide, but the number is likely to double in the next few years with this new link. Speculation about the increase in followers on the social network is because a third of the global population knows NFTs and is looking for ways to trade them.
Photographers will tap into the NFT market with ease
Since non-fungible token trading hit the internet, thousands of artists have benefited from it by offering their works for sale. However, a part of the artistic community more focused on photography could not emerge through this new trend, but now everything will change. Viewbug will allow photographers to sell their latest images published on the social network used MetaFrames that converts their pieces into NFTs.
The CEO of the NFT company, Wadhwani Sanjay, believes that photographic content developers are promoted within the website to have their income through their work. Wadhwani includes this partnership will allow Viewbug to help its community and thus benefit a little from its service.
One of the social network founders, Guttin Ori, indicates that his mission may be reciprocated after signing the agreement with MetaFrames. Guttin admits his excitement at these developments focused on NFT trading and cryptocurrencies. The head of the social network alleges that the trade with non-fungible parts would be part of the future and the metaverse developments.
