Photography-focused NFT platform, Cheeze, Inc., has announced that Netflix co-founder Marc Randolph is joining its board of directors, according to a Forbes report.
This news follows Cheeze’s second seed round last month in which Randolph participated. He also participated in the platform’s initial seed round in November, led by Olive Tree Capital.
“I am very excited about joining the Cheeze, Inc. board. The team Simon (Hudson, Cheeze CEO and Founder) is building is really impressive, and I am excited to see the progress they make,” Randolph said.
Available on iOS and Android, Cheeze is a photography-focused platform that allows users to curate and sell their photography as NFT collections in their own gallery or discover iconic photos on the secondary marketplace.
Photographers can purchase gallery spaces on the platform and have full control of the collections, prices and edition sizes they showcase or split gallery ownership with others and turn it into a DAO, with each person contributing to the decision-making regarding the gallery and collections.
Gallery owners can trade or lease their galleries, as well as earn revenue for every sale on the primary and secondary market. Users can mint NFTs for free as the platform is built on the Flow blockchain, which doesn’t charge gas fees.
The platform aims to change the creator economy by giving creators complete control over their work and how to monetise it, as well as change the structure of how photographers share their images with the world.
Cheeze’s blockchain technology stores metadata such as time, location, date, creator, image size, ISO speed, and focal length, which means the data cannot be deleted or altered.
Speaking to Forbes, Simon Hudson, CEO and founder at Cheeze, said about the concept, “The ultimate idea is that you want to capture those moments and memories when you’re sharing photography with people. Each photo has a lot of metadata, but that can easily get lost. So, we want to bring the photography, negatives, and metadata to the blockchain, meaning that you’re capturing a moment in time and always looking back and seeing it.”
According to Forbes, the global photographic services market grew from $33 billion in 2020 to nearly $39 billion in 2021, and could grow to just under $43 billion by the end of this year. Citing Yahoo Finance, Forbes said that the NFT market is expected to increase from last year’s $14 billion to $21.3 billion this year.
“Simon and his team have also shown that they are focused on providing true utility to people looking to bring their work to Web 3.0, and in an NFT environment where style seems to trump substance, this is a recipe for long term success,” Randolph said.