NFT

Adobe jumps into the Non-Fungible Token Ecosystem with ‘Prepare As NFT’ Photoshop Tool

Adobe Jumps Into Non-Fungible Token Ecosystem With 'Prepare as NFT' Photoshop Tool

Adobe Inc. is an American multinational computer software company, well-known for its platforms such as Photoshop and Illustrator. It has now entered the universe of non-fungible tokens (NFT). According to Adobe chief product officer Scott Belsky in a recent interview with The Verge, “NFTs will change creativity.”

New Adobe Photoshop Tool Will Assist NFT Creators in ‘Packaging and Preparing, Along With the Attribution Capabilities’

Adobe’s software company has released a Photoshop tool that allows users to pre-construct images for non-fungible token applications (NFT). On October 26, Scott Belsky, Adobe’s chief product officer, spoke in an interview with The Verge’s Nilay Patel about the firm’s deep dive into the world of NFTs.

The new Adobe Photoshop tool allows users to create specific credentials that allow popular markets like Opensea to read the metadata. Belsky stated that he is optimistic about the NFT industry during a conversation with Patel.

Belsky stated that the “prepare as NFT” option would be available by the end of the month. However, users can now add their NFT credentials to the Photoshop latest release.

” “It will take what you’re currently working on and help you in packaging and preparing it together with the attribution capabilities…for some of the most popular minting platforms or blockchains out there,” said an Adobe executive.

Adobe Chief Product Officer: ‘No Changes to Photoshop Format — Open-Source Framework’

The Verge’s Patel asked Belsky whether there were any changes to the Photoshop format. The chief product officer replied no. “No changes to the format. The cryptographic signature points towards an IPFS-powered system that displays you the attribution data,” Belsky stated during the interview.

” But again, it’s decentralized and open-source. Adobe executive added that anyone can cryptographically sign any item from the tool used to create it.

The chief product officer at Adobe added:

And that’s great, because we don’t want this to be anything that is proprietary to Adobe or part of one of our formats, that would negate the purpose.

The news that Adobe has added an NFT tool to the Photoshop platform follows Deviantart’s collaboration with Opensea, as well. Opensea and the world’s largest online gallery of art created tech to detect NFT infringement. Deviantart announced that it had expanded its system to detect near matches of non-fungible tokens (NFTs), submitted over the Internet.

What do you think about Adobe adding an NFT feature to the popular Photoshop platform? Please comment below to let us know your thoughts on this topic.

This story contains tags

Adobe, Adobe executive, Adobe nft, Adobe Photoshop, cryptographic signature, DeFi, Deviantart, Inter-Planetary File System, IPFS, Metadata, nft, NFT Adobe, NFT credentials, NFTs, NFTs Photoshop, Non-fungible Token, Opensea, Photoshop, Photoshop NFTs, Scott Belsky

Image Credits: Shutterstock, Pixabay, Wiki Commons

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NFT

Nike is facing a lawsuit from people who bought its NFTs

Wes Davis is a weekend editor who covers the latest in tech and entertainment. He has written news, reviews, and more as a tech journalist since 2020.

A group of people sued Nike this week over its decision to wind down its virtual show project RTFKT last year. The buyers of the digital assets accuse Nike of causing “the rug to be pulled out from under them,” and say they wouldn’t have bought its NFTs if they’d known they were “unregistered securities,” reports Reuters.

Filed in New York’s Eastern District, the proposed class action lawsuit seeks “unspecified damages of more than $5 million for alleged violations of New York, California, Florida and Oregon consumer protection laws.”

Nike tried to jump into the NFT game by buying RTFKT in 2021. But, like Starbucks Odyssey, it never quite worked out and the company abandoned the idea, announcing in December via the RTFKT X account that it planned to “wind down RTFKT operations” by the end of January this year.

Since then, RTFKT has seemingly been maintained by a single person named Samuel Cardillo, who spent Thursday posting through the sudden disappearance (and later reappearance) of artwork for its CloneX NFTs project.

NFT

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