- National Geographic is entering the NFT market with its upcoming collection, “GM: Daybreak Around the World.”
- The collection features 16 photographs by National Geographic photographers and digital artists, capturing the break of dawn from around the world.
- The magazine’s initial announcement of NFTs on social media was met with backlash and negative comments.
National Geographic, known for its stunning photography and storytelling, is making its debut in Non-Fungible Tokens (NFTs) with its upcoming collection, “GM: Daybreak Around the World.” In partnership with web3 studio and NFT platform, Snowcrash, the exhibition will feature 16 photographs capturing the break of dawn from around the world, all taken by National Geographic photographers and digital artists.
The NFT market has been dominated by profile pictures like CryptoPunks and Bored Apes, gaming NFTs, and sports collectibles, with art coming in at a distant fourth and photography barely featuring. With National Geographic’s massive social media following and reputation for outstanding photography, this collection has the potential to bring more attention and prestige to the photographic NFT market.
National Geographic’s “GM: Daybreak Around the World” collection
The theme of the collection, “GM: Daybreak Around the World,” is a nod to the Crypto Twitter community, where “GM” (good morning) and “WAGMI” (we’re all going to make it) are popular greetings. The lighting from sunrises perfectly illuminates landscapes and is the ideal match for the GM moniker.
The collection includes photographs from the shores of Byron Bay, Australia; coastal Oregon; and the peaks of Mount Everest. There’s even a crack of dawn in the metaverse, taken by Aaron Huey. Each artist tells a unique story through their photographs, some going the traditional documentary image pathway while others are exploring the narrative opportunities the theme presents.
The collection will include 1888 NFTs, marking the year of National Geographic’s founding. Each participating artist will release 118 editions of their photographs on the Polygon blockchain in a blind drop. The NFTs will be available on Snowcrash, a recently-launched platform building web3 software and services. Those interested can purchase the NFTs using a debit or credit card and do not need a crypto wallet.
The controversy surrounding National Geographic’s NFT announcement
National Geographic’s decision to launch NFTs has been subject to controversy. When the magazine first mentioned NFTs on its social media accounts, it was met with overwhelmingly negative comments. Many were calling NFTs a “bubble” that has “already popped,” as well as other expletives.
Despite the negative comments, National Geographic’s Instagram post about NFTs still received over 100,000 likes.
National Geographic’s decision to launch NFTs at a time when NFT trading volume is a sliver of what it once was could be a strategic move. According to a Dune Analytics dashboard, Polygon saw just $15.39 million in total NFT volume traded on OpenSea last month, a dramatic 80.5% decrease from its all-time high of roughly $79.45 million a year ago. This indicates that the market may be in flux, and National Geographic’s entry into the NFT market at this time could be a smart move.
National Geographic’s NFT collection also joins a growing list of prestigious publications embracing the technology. The Associated Press has embraced converting its photo archive into digital collectibles, partnering with the Binance crypto exchange and creating its marketplace earlier this year. Time is another publication that has adopted web3, starting with three iconic magazine covers.
