Canon plans to launch a photography NFT marketplace 

Leading imaging firm, Canon is set to launch an NFT marketplace according to a Twitter post by its USA division stating it will soon be launching a marketplace for curating photography. The marketplace named Cadabra would offer a selection of digital arts (NFTs) from innovative creators. 

TBD Cadabra marketplace according to Canon is out to empower creators by establishing a connection between them and collectors through a shared appreciation for their digital artworks. The collectors are enthusiasts who have a deep sense of value in the art of photography.

This move is a push further into the Web3 space bringing in photos of different categories including wildlife, sports, lifestyle, and landscapes. The initial photographers to be featured on the platform are yet to be disclosed, however, participating artists will be allowed to offer physical prints of the images they shot using Canon.

In 2022, Canon made an entry into NFT releasing a series of photo NFTs on Solana, in partnership with Immutable Image. As the NFT audience anticipates Cadabra’s launch, it would be initially made open in the United States and will allow payments in crypto or debit/credit cards.

Canon U.S.A., Inc., is one of the top-ranked providers of consumer, B2B, and industrial digital imaging solutions globally. It serves specifically the United States, Latin America, and the Caribbean markets, however, has had a global market reach.

The parent company Canon Inc. in 2019 ranked third place in the U.S. patents granted that year. It records about $33 billion in global revenue, and in 2020 received the honor of listing as one of Fortune Magazine’s World’s Most Admired Companies.

Following the announcement, Canon opened a registration platform for the public to sign up and stay connected to further updates.

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