Launched in 2012 by Martin Vegas, the photographic concept ImageNation was initially a place of exhibition and exchange for passionate photographers. In a few years, this international exhibition has become one of the leading events in photography and is held in different cities such as Milan, Los Angeles or Paris. If photography is an art that questions, shakes up and questions our vision of the world, it is now one of the artistic formats most appreciated by the young generation. Between massive diffusion on social networks, virtual world and NFT, how does art photography manage to assert itself?
Analysis and point of view of Martin Vegas, founder of ImageNation.
One might think that the art photography market is less attractive in the age of Instagram and image banks, but the truth is that it is doing well and has even been on the rise for a few years.
Mass distribution thanks to digital may have contributed in part to the popularity of fine art photography, as today’s buyers are also digital natives. As such, they connect with images, they live in a world made of images, and they seem much more inclined to find and follow photographers they like, collecting their images and buying prints on digital art platforms.
Fine art photography is a real draw for contemporary art lovers looking to start an art collection at a more reasonable price. In fact, 80% of transactions in photography are under €10,000.
Regarding the massive arrival of NFTs, it’s nothing more than bits and bytes stored on a blockchain. But it is the concept of value that is driving its growing popularity. The value that a potential buyer associates with the NFT also determines its price. People who buy NFTs see value in them. It is also a matter of social status and “bragging rights”.
Digital art has benefited the most from the NFT concept. As soon as the NFT craze hit social media, many graphic designers and artists began creating digital artworks to sell as NFTs. The NFT market is not really different from the way real art is sold around the world. While technically the artist may still have copyright, the person who buys the work owns it, and can sell it to someone else.
In conclusion, NFTs are revolutionizing digital art in many ways. But NFT investors must be wary of fraud. For example, the exchange platform Cent recently shut down operations due to counterfeits. And OpenSea valued $13 billion worth of items created with its free typing tool, with 80% being plagiarized works, fake collections and spam.
From 27th to 29th May
Joseph Le Palais Gallery
5, Rue Saint-Merri – Paris 03