TIME, led by Keith Grossman, has been getting more and more involved in the NFT ecosystem. Only a week after the iconic media company named 12-tear-old NFT creator Nyla Hayes as its first artist in residence, the TIMEPieces initiative announced Thursday, Oct. 28, that it has joined forces with FOTO, an artist-led collective.
Consisting of eight world-renowned photographers, FOTO has amassed two vaults featuring a total of 24 artworks, with a community of more than 450 artists, technologists and collectors. As part of this new collaboration, TIMEPieces receives a worldwide license to the artwork minted for the two FOTO vaults while also aiming to work with the artist community on ways to integrate vault art into the TIMEPieces ecosystem.
Throughout 2021, photography has been steadily gaining a foothold in the NFT ecosystem. As artists such as Justin Aversano bring crypto-art photography into the mainstream and achieving record sales, TIMEPieces — backed by the artist-focused and photography-heavy institution TIME — was readily welcomed into the NFT ecosystem.
With TIMEPieces selling out its first NFT collection — Building a Better Future — in minutes, the collab with FOTO almost feels like it was destined to happen. As Grossman, the president of TIME, stated via the publication’s announcement of the partnership, the collaboration will likely prove favorable for the parties involved.
“We are thrilled to welcome the FOTO artists and community into the TIMEPieces family,” said Grossman in a statement. “By coming together, our shared vision allows us to create an innovative, inclusive and disintermediated future that leverages technology in the art world for increased creativity, collaboration and mutual benefit.”
FOTO — which is made up of established NFT photographers Alejandro Cartagena, Ben Strauss, Cath Simard, Dave Krugman, Isaac “Drift” Wright, J.N. Silva, John Knopf and Ravi Vora — leverages the already decent amount of skin each member has in the non-fungible game. But considering TIMEPieces — although backed by an established institution — is still a relatively new entity within the NFT ecosystem, this relationship could set a precedent for other mainstream brands hoping to help grow the NFT photography sector.
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Photo courtesy of TIMEPieces.