Canon, a Japanese multinational company that specializes in optical, image, and industrial equipment, has begun work on a non-fungible token (NFT) initiative.
According to a tweet from Canon, the company will soon launch “Cadabra,” an NFT marketplace dedicated exclusively to photography.
The marketplace will feature works from innovative creators, supporting and connecting them with collectors who wish to own pieces of photographic art as digital artworks.
The artworks will be grouped into categories, such as landscapes, sports, and lifestyle, and artists will be able to offer them as physical prints that Canon will fulfill.
Cadabra, which will be launched later this year, is Canon’s second NFT venture.
In 2022, the company announced that several members of its exclusive Canon Legends program collaborated with Immutable Image to create Solana-based NFTs from a limited collection of their photographs and released them under “The Legends Mint” collection on OpenSea.
Despite NFTs, Canon is also focusing on virtual reality applications; at CES 2023 this year, the company unveiled Kokomo, its first VR platform application that enables face-to-face communication in a virtual space with live video.
