Canon Launches NFT Marketplace: Cadabra

Canon, one of the world’s largest companies operating in the camera and imaging field, is stepping into the NFT field. Canon USA, which manages Canon’s United States operations, has stated that it will launch an Ethereum NFT marketplace dedicated to photography later this year.

According to a statement by Canon USA, the company stated that it will launch an Ethereum NFT marketplace dedicated to photography later this year and will further establish a presence in the world of Web3, following the NFT drop in 2022.

Canon’s NFT marketplace will be available as Cadabra. The marketplace Cadabra, which was first previewed at this week’s NFT.NYC event, is scheduled to be available to all users by the end of 2023. According to a press release by Canon, the marketplace will host photos in a variety of categories, including wildlife, sports, lifestyle and landscapes, among others.

Canin has yet to announce which photographer will join the platform, but Cadabra will offer a secondary marketplace to resell both initial photography collections and NFTs. In addition to digital images, Cadabra will allow participating artists to submit physical prints of images that Canon will perform.