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The LIFE Picture Collection announced that it is launching a non-fungible token (NFT) collection of its legendary photography. NFTs are one-of-a-kind digital items with blockchain-managed ownership. LIFE will collaborate with the NFT marketplace KnownOrigin and distribute exclusive drops of their iconic photographs, beginning with the first on April 14.
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“There is a growing number of photography enthusiasts on Web3, and we see this as a way to engage with new audiences around photojournalism and art.”
Founded in 1936, LIFE, the first photography publication in the United States, developed the catalog of 20th-century imagery. With work from trailblazing photographer Margaret Bourke-White, the launch offers the opportunity for serious collectors to own selected authentic, important pieces of photography as NFTs. LIFE joins other major collections like the Associated Press and the British Museum to mint NFTs.
“LIFE always seeks to share its incredible photography with new communities,” said Tom Rowland, President of the LIFE Picture Collection. “There is a growing number of photography enthusiasts on Web3, and we see this as a way to engage with new audiences around photojournalism and art.”
KnownOrigin is an art NFT marketplace on the Ethereum blockchain. An early Web3 pioneer in the NFT space, founded in April 2018 and based in Manchester, UK, KnownOrigin is a single platform to create and collect NFTs using the most exciting creative tools and services.
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David Moore, one of KnownOrigin co-founders, commented, “We are delighted that LIFE has partnered with KnownOrigin to launch their journey into NFTs. LIFE is an iconic and historically important brand with compelling and instantly recognizable imagery, including famous LIFE magazine covers. Photography and NFT photography are fantastic use cases for blockchain tech and NFTs. We have recently seen photography grow in importance and collectability within the NFT community. The LIFE Picture Collection is unrivaled in its breadth and variety of awe-inspiring content. It’s an honor to have LIFE on our platform.”
The drop will include an auction with a reserve, rare editions, and other pieces with a larger limited run and items will be priced according to their rarity. It will also be accompanied by Twitter Spaces and a new LIFE Discord channel to connect audiences with the brand.
LIFE and KnownOrigin will feature a virtual gallery in Decentraland on KnownOrigin’s plot of land. As a continuation of LIFE’s cutting-edge philosophy, the gallery will form an immersive world celebrating LIFE’s stories. The LIFE gallery platform will display NFTS and additional LIFE photography and assets.
LIFE will offset any emissions generated from the NFT minting process from sales. A portion of the proceeds from the NFT sales will also be donated to charities chosen by the LIFE team, with the first drop benefitting the Malala Fund.
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