Adobe Inc (NASDAQ:ADBE) — the market leader providing software tools for creatives — partnered with non-fungible token (NFT) market Rarible to protect the digital artists behind the tokens.
What Happened: According to a Tuesday announcement, a new Adobe feature allows token creators to add their wallet address and social media information to the NFT metadata in an effort “to fight misinformation with attribution and verifiable truth of content.” In other words, the solution allows NFT creators to prove they are the real creators of their artworks by linking them to their data.
The NFT marketplace also allows for its creators to remain pseudonymous and only display their on-chain address or social media profile depending on what they feel comfortable with.
Rarible is a member of Adobe’s Content Authenticity Initiative, as well as BBC, Getty Images, Microsoft Corporation (NASDAQ:MSFT) and Nikon ADR (OTC:NINOY). This allows these organizations to have an impact on the firm’s tool development.
Rarible is the eighth most popular NFT marketplace with a daily trading volume of $393.910, according to decentralized application data platform Dapp Radar. The current trading volume is a far cry from April’s peak of $2.5 million.
ADBE Price Action: Adobe’s stock is trading down at 0.69% at $642.50.
Photo: Christin Hume via Unsplash