Canon announced the launch of an NFT marketplace

The American arm of Canon announced plans to launch a marketplace for non-fungible tokens (NFT) on the Ethereum blockchain — Cadabra.

The platform is described as a curated marketplace for tokenized photographs.

The first version of the marketplace will be unveiled this week at an NFT conference in New York. Cadabra’s official launch is slated for the second half of 2023.

The marketplace will feature images across categories including wildlife, sports, lifestyle, and landscapes. Cadabra will offer both new tokenized photograph collections and existing NFTs.

The platform will also enable artists to offer physical prints of the images, which Canon will print.

Cadabra will initially launch in the United States only. The marketplace will accept payments in fiat and cryptocurrency.

Earlier, reports indicated that Amazon planned to launch an NFT marketplace on 24 April. According to reports, in the first phase US residents will have access to 15 collections, with the initiative later expanded to other countries.

In April, Gala Music unveiled an unreleased version of David Bowie’s Let’s Dance as a limited NFT collection.