What is Lensy?
Lensy is a marketplace for digital photography built on the Hive blockchain. Hive is a fast and feeless blockchain, that scales, is globally accessible, and unlocks an entire ecosystem beyond photography. Our aim is to provide a platform that is easy to use and less expensive for both the photographer and buyer to transact.
What is an NFT?
A non-fungible token (NFT), also known as a nifty, is a special type of cryptographic token which represents something unique; non-fungible tokens are thus not mutually interchangeable by their individual specification. Non-fungible tokens are used to create verifiable digital scarcity, as well as digital ownership, and the possibility of asset interoperability across multiple platforms. NFTs are used in several specific applications that require unique digital items like crypto art (rare art), crypto-collectibles and crypto-gaming. More info on Wikipedia NFT
Why create and collect tokenized Photos?
Attaching a Photo to a token (NFT) has several benefits, most importantly it creates a record of provenance. A token can be compared to a certificate of authenticity as it is cryptographically signed by the photographer. Upon creation, ownership and trade history can be tracked on a publicly verifiable ledger (blockchain). This helps combat issues like plagiarism and can be used to verify copyright of images. Tokenization also permits the photo to be efficiently and securely traded. Secondary market royalties allow the original photographer to be rewarded on subsequent sales.
Why Buy it when I can just Download it/ Screengrab it?
We have an awesome article that talks about that right HERE and highly recommend you read it, but essentially someone can take a screen grab of the image yet still that doesn’t mean they own it or are license to used it, only the buyer is and can and that is what makes it valuable.
How do I get started?
We will get on with the basics but feel free to visit our Get Started page for more!
Hive Account
To begin creating and collecting you will need a Hive account, get one for free here: hiveonboard.com
Hive keychain. Hive keychain is a browser extension that securely encrypts your keys and allows you to safely and easily authorize transactions on the platform. Like MetaMask for ETH.
Install the Hive keychain extension:
Quick Video Tutorial:
from our sister site @NFTShowroom it appplies as well for Lensy.
Whitelist
During the alpha we are only allowing verified Photographers with a portfolio to tokenize. There are future plans to open the site up once we have a verified badge system in place.
How can I get whitelisted?
To apply as a photographer, log in to lensy.io, click your name in the upper right menu > then click profile. Fill out the profile as best you can, make sure to add a link to your portfolio, click update profile then agree to the TOS and apply.
Please note: any blank applications will be denied.
Be patient, an admin will contact your on social media for verification. Always make sure to update your profile before applying or we won’t see the links you add to your profile.
MAKE IT EASY FOR US TO VIEW YOUR PORTFOLIO! if the links you submitted are lacking any photography the application will be denied, you can always update and re-apply.
- Preference will be given to photographers who are active in the Hive communities and other social media such as twitter and Instagram. To get this project off the ground, we need all the self-promotion our photographers can make!
Join our Discord! As soon as someone is approved, we let the photographer know in the general channel of our server!
How Lensy Works?
On Lensy photographers can create limited edition tokenized photo that can be sold on the market. Collectors can buy, sell and trade limited edition photos. Lensy offers photographers the option to make the photo available for commercial uses which adds additional security for both the photographer and buyer.
Tokenizing
Fee Structure and Secondary Sales
NFT creation costs 5 SWAP.HIVE + 1 SWAP.HIVE per edition. Upon completion of the initial sale Lensy collects a 10% commission. Upon completion of secondary market sales Lensy collects a 10% commission and pays half of that as a royalty to the original photographer.
Currently items can only be listed with a Buy it now price, bidding is on the roadmap.
Deposit SWAP.HIVE
To make a token you must deposit SWAP.HIVE into your wallet on NFT Showroom before you begin tokenizing.
Go to your wallet tab on NFT Showroom and click deposit. (this takes HIVE from your wallet and automatically converts it to SWAP.HIVE)
Type in the desired amount you would like to import and sign the transaction on keychain.
Accepted file formats and specs
Current supported formats: jpeg, png, gif and MP4
- jpeg, png gif: Max 30 MB
- MP4: Max 100 MB
You will also need a thumbnail 1 MB or smaller for each upload
Unique and Multiple Editions
In simple terms editions are like prints, or copies of the same photo. When tokenizing a photo, the rarity is a very important aspect. Collectors will take this into consideration when making a purchase. On Lensy we offer the option to tokenize single or multiple editions. It is important that you decide the number of editions when you are minting the token because you can't create more later or change the details after the transaction has been broadcast.
Who owns my tokens/photos?
As the creator of the token you have digital ownership of your work. We offer two options when creating a token, Private and Full Commercial:
Private means the photographer retains the full copyright to the photo. The buyer may only display the photo as part of their collection or resell it on the secondary market.
Full Commercial means you are selling the token holder a License to reproduce your work for commercial purposes. That could include using it on a commercial website, using it on printed merch etc. You may want to consider possible uses for your work and print editions accordingly. Depending on what type of photos it is the buyer may or may not want to purchase commercial rights if there are multiple editions available as they will not be given exclusive rights, that is why if you select the Stock category for your photo the only rights option available will be full commercial.
Managing your Photos
After tokenizing, the photos will go to your collection, but it is not for sale. In order to put it up for sell you need to click the photo, then > manage under the photo.
This will send the photo to your cart and you can manage them, current options are burn, sell, transfer
Burn will do as stated and burn the token, this can be used in the case that you made a mistake in the token information and would like to mint it again. We ask you to be very careful making sure the info is correct on the tokenize page so you don't need to do this!
Please note that if you tokenize again after burning you will not be able to use the exact title again.
Sell This option allows you to set a sale price. If you have multiple editions and want to make them all the same price you can do this as a batch. If you want to make different prices you will need to add them to the cart 1 by 1.
Transfer This allows you to transfer or gift the photo to another account. Just enter the username and desired memo.
Unlockables
This is an option you have to add a file or a text to your photo after you are done tokenizing it, only for your buyer to see and download.
While you can upload a small resolution version of the photograph or even a watermark version of it as your main and thumbnail photo, we suggest uploading the highest resolution possible while staying below the size limits as an unlockable. Other uses for this would be to add a link in the text option of the unlockables for packages of Stock photos.
When a token has an unlockable for the buyer it is shown an icon next to the edition number, yet we still recommend adding a line on the description of your photo for the buyer to know what the unlockable will be about.
To know more about Unlockables, Referral system, Secondary Market Royalties & Mobile Experience
You can go to this post: We are 1 Month old and have added new features!! || News & Updates
Where are my creations stored?
Lensy is currently using an image server to store all uploaded photos, this is subject to change as we explore options.
Can I gift my Photos?
Yes, you can transfer an NFT to anyone with a hive account.
If I tokenize my photo on Lensy, can I sell the same photography elsewhere?
By creating an NFT with a specified number of editions you are ensuring the scarcity of your photos for your buyers. Once a photo is tokenized it's important you do not tokenize the same creation again as that will negatively affect the value of your work and reputation.
We reserve the right to restrict access to Lensy if a photographer is caught plagiarizing or fraudently issuing multiple tokens of the same creation.
Blockchain Info
What are HIVE and Hive Power?
HIVE is a cryptocurrency that powers the Hive blockchain.
On Hive you can own liquid HIVE or choose to stake (freeze it) as HIVE Power (HP). HP grants you voting rights on the platform as well as resource credits. Resource credits are consumed when you transact on the blockchain (e.g. tokenizing art NFTs or blogging on DAPPs like peakd.com) These credits regenerate. We recommend you have at least 5 HP staked to be able to smoothly transact. For more information about the Hive blockchain such as wallets, dapps, exchanges and more please visit https://hive.io/
Where can I get it?
Once you have your account and keychain extension installed you will need some Hive! Hive can be purchased on a number of exchanges such as, Blocktrades, Bittrex Binance, Kraken, Huobi etc. https://hive.io/ has a complete list.
What is Hive-Engine and why do we need it?
Hive Engine is a smart contract platform built on the Hive Blockchain. One of the smart contracts on Hive-Engine is the NFT contract that NFT Showroom uses to operate the digital marketplace.
What is Swap.Hive?
The Hive blockchain uses the HIVE cryptocurrency as the medium of exchange. Hive-Engine utilizes a HIVE backed token called "SWAP.HIVE" to execute all the smart contracts. To interact with Lensy users are required to convert Hive to SWAP.HIVE. You can do this in your wallet on lensy.io by clicking the deposit button and entering the desired amount. Simply sign the transaction with keychain and your Hive will be deposited as SWAP.HIVE.
There is a 1% fee when converting between HIVE and SWAP.HIVE (charge from hive-engine)
Why is the sale price in SWAP.HIVE?
The smart contract platfrom Hive-Engine, which is the backend of the Lensy website, requires that all contracts be settled in SWAP.Hive.
Can I get a refund?
Blockchain transactions are irreversible, so all sales are final.
If a sale goes through can it be reversed, if I change my mind?
No. You can contact the buyer/seller, but if they refuse there is no recourse.
Fraudulent photos from verified creators may be refunded up to the price the first owner paid. Otherwise all sales are final.
Visit the site and browse Photography: https://lensy.io/
You can follow us on Twitter: https://twitter.com/LensyNFT
or Instagram: https://www.instagram.com/lensy.io/
For any questions or support please visit us in our Discord
Excellent write up! I have added this to my bookmarks for future reference as well as to hand out to new users!
Great write-up Victoria. I was wondering how many images are recommended for someone's portfolio to apply? I'm working on mine.
We are asking for the photographer to show us at least 5 that way we know even if amateur they have at least some work.
Thanks!
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STOPDo not miss the last post from @hivebuzz:
Its a great initiative and it wonderful to see @victoriabsb running different initiatives all at the same time.
This post has been appreciated and featured in daily rewards for quality content. Keep up the good work
The secret is to not sleep at all 😂😅 thank you! I really dont do much just making sure to help wherever i can and hopefully we can achieve making Hive more known to the outside word 🤗
Very interesting it seems. I will study more about it.
Thanks for sharing
Thanks for sharing