Kanye West suggested that celebrities should be able to earn royalties from their image in an accidental conversation with a paparazzi. Photographers may use NFTs to split income from their work with celebrities, he suggested. He also stated that he will modify the way the industry operates to help artists.
On Monday, Kanye West was caught on tape discussing celebrity photographers. He proposed that paparazzi use NFTs to pay celebrities a portion of the money they make from their images.
Kanye West Discusses the Advantages of NFTs
Kanye West has proposed that paparazzi use NFTs instead of flashing lights at celebs. The hip-hop icon now known as Ye was caught Monday claiming that NFTs may help celebrities earn royalties on paparazzi images in a quick and unplanned exchange with a group of photographers.
After a group of photographers approached West at Miami International Airport, a debate erupted. West told the paparazzi that he believes photographers should contribute a percentage of their revenues to the celebrities they photograph after begging them to give him some space. West can be seen stating in a YouTube video broadcast by ET Canada:
“What I’m saying is, y’all gonna end up giving all celebrities a percentage of our image, we got to take control of our image. Right now you get to shoot us without having to pay, I’mma change that.”
Paparazzi are self-employed photographers that track down celebrities to take images of them while they go about their normal lives. The majority of their income comes from selling images to tabloid newspapers and gossip publications.
This behavior is completely legal in most countries, and celebrities do not receive any of the proceeds from the images or films. West continued, “Raising this problem with the paparazzi, I added: “I’m not saying it in a negative way. I’m saying, it’s just like—right now it’s just really one-sided, you guys could follow us, you guys can stand in front of our hotel at any given time, you don’t give us any percentage of what you’re making off of us, of our kids, and I’m going to change that.”
West went on to say that NFTs might give a means for both celebrities and paparazzi to profit from the sale of their images. “You know, NFT folks get paid in perpetuity on a product that they put out,” he explained, adding that he should be able to profit from his image as well. “We’ve got to work together to make money.”
NFTs are one-of-a-kind tokens or data units stored on blockchains with smart contracts, such as Ethereum and Solana. They may be used to tokenize any sort of asset, including video and audio files, and make it simple to ensure and establish the item’s legitimacy, ownership, and scarcity.
Due to the programmability of smart contracts, artists can utilize NFTs to sell their music, videos, photography, or digital art directly to consumers while still earning royalties from every subsequent resale of their work on secondary markets.
West’s words indicate that he believes the same may be done with paparazzi shots, in which both the celebrity and the photographer profit from the sale of tokenized photos to tabloids.
NFTs were one of the fastest-growing parts of the cryptocurrency industry last year, with a slew of artists including Aphex Twin, Grimes, Snoop Dogg, Deadmau5, 3Lau, and Kings of Leon joining into mint their own works. While West has yet to follow suit, his recent words suggest that it won’t be long until he does.
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