Adobe announced that it will add a “prepare as NFT” option to Photoshop. It will also allow users to add crypto wallet addresses to the software as well as portfolio website Behance.
Adobe now looks to be joining in on the non-fungible token (NFT) craze, as it has announced that its Photoshop product will receive a “prepare as NFT” option. The company made the announcement at the annual MAX conference on Oct 26, alongside several other updates that will cater to what seems to be a new era for digital artists.
Among the most crypto-relevant updates is the fact that Adobe’s Behance website will now let artists connect crypto wallets to the portfolio website. Furthermore, it’s also focused on supporting several blockchains, including Polygon, Solana, Tezos, and Flow.
As for NFTs, which Adobe stands to gain a lot from being the developer of such a ubiquitous software, the firm will partner with some of the market’s most popular NFT marketplaces. OpenSea, Rarible, SuperRare, and KnowOrigin are all on the list, and these will display metadata from the “Content Authenticity Initiative” Adobe has introduced this initiative into several of its Creative Cloud tools.
The Content Authenticity Initiative aims to “address misinformation through digital content provenance.” It counts media and tech companies, NGOs, academics, and others as members of its organization. The overall goal is to “promote adoption of an open industry standard for content authenticity and provenance.”
The company also announced an additional feature called Content Credentials, which provides further proof of ownership of an asset as you add social media and crypto wallet addresses. These will also be viewable on Behance.
NFT sector firmly entrenched in personal and professional lives
2021 has undoubtedly been the year for NFTs. The strides the sector has made since the start of the year have even outpaced that of the DeFi market in general, which itself has seen significant progress. From celebrity endorsements and major brands’ involvement, the specialized asset has strongly captured the public’s attention.
While individuals can own rare art and possibly see the value go up, businesses can employ them to gain brand visibility and engagement. Coca-Cola, Reebok, Sotheby’s, Christie’s, and many others have all forayed into the space with great success.
The popularity of NFTs has led to institutional investors also joining the market, with research firm Global Data noting that institutional investors may be focusing on better commercializing their patents. However, there may be some bumpy times ahead, as some crypto executives have warned that a regulatory crackdown may be imminent.