Company Announcements

CANON LEGENDS PARTNER WITH IMMUTABLE IMAGE TO CREATE NFTS FROM ICONIC PHOTOGRAPHS

"The Legends Mint" NFT Collection Brings Iconic Photographs to a New Generation and Creates a Parallel Revenue Stream to Traditional Gallery Print Sales for Photographers

MELVILLE, N.Y. , June 15, 2022 /PRNewswire/ -- Canon U.S.A. Inc., a leader in digital imaging solutions, announced that several members of its exclusive Canon Legends program have partnered with Immutable Image to create NFTs (Non-Fungible Tokens) from a limited collection of their photographs and publish them as a collective. "The Legends Mint" will drop on June 30, 2022, using the Solana blockchain on OpenSea, one of the world's largest peer-to-peer NFT marketplaces. Immutable Image and Canon are dedicated to bringing iconic photography direct from photographers to the NFT community in innovative and accessible ways.

Canon Legends is a program created by Canon to honor and preserve the legacy and leadership of some of the most accomplished photographers of our time and former members of its renowned Explorers of Light program. Legends participating in this first-of-its-kind Canon Legends NFT collection include Sam Abell, Barbara Bordnick, Gregory Heisler, Ryszard Horowitz, Walter Iooss, Jr., Melvin Sokolsky, and Joyce Tenneson.

"Canon understands that advancements in technology can translate to new platforms for sharing iconic works, which is what the world of NFTs is doing for photography," explains Tatsuro "Tony" Kano, executive vice president and general manager of Canon U.S.A.'sImaging Technologies & Communications Group. "Canon wanted to help some of its Legends explore this medium and needed to find an organization familiar with blockchain technology and who, at their core, had an appreciation for photography and the arts. When Immutable Image approached us with their mission and impressive credentials in this space, we knew they were the right partner for these photographers."

"We are honored and very excited to be working with some of the most renowned names in the history of photography and look forward to introducing some of their iconic photos to a new visual platform and a new generation of collectors," said Bjorn Iooss, co-founder of Immutable Image and veteran professional photographer. "Our mission is to support both the photographic and NFT communities by building a new and diverse group of collectors for this culturally vital visual art form and introducing the work of these seven legendary photographers is an incredible start."

The Legends Mint

"Minting," in the world of NFTs, is a term used for publishing tokens (in this case, photographs) on the blockchain to make them available for others to purchase. Immutable Image is curating "The Legends Mint" collection of seven legendary photographers whose works focus on sports, fashion, fine art, portraiture, travel, still life, and pre-digital special effects photography. Each photographer is offering exceptional photographs to "The Legends Mint," with a total supply of editions to be announced. There will be exclusive 1/1 NFTs available from each participating photographer along with multiple edition NFTs.

All participating purchasers of this Mint will receive a randomly selected, unique NFT photograph from "The Legends Mint." Purchases will not include copyright or commercial rights to the image itself. Instead, it will present a unique and limited edition NFT, much like the purchase of a traditional, limited-edition print from a gallery or directly from the artist. The rarity and variance of what purchasers receive will be in the edition size of the image, the artist, and the imagery itself.

"I have to admit that the notion of selling my work in limited editions or as one-of-a-kind art on a digital platform that offered no tangible hard-copy print was a bit foreign to me, but equally intriguing," explained Canon Legend Ryszard Horowitz, who is widely recognized as a pioneer of special effects photography predating digital imaging. "I've always been attracted to new ways of creating and sharing my work, so I thought this was an interesting opportunity to explore. I'm also honored and thrilled to be collaborating with these other legendary photographers, most of whom I've known my entire career and I'm grateful to Canon for bringing us together."

In addition to creating a truly fair and affordable way to collect iconic photography, NFTs are generating a completely new channel for photographers to generate revenue. "The sale of NFTs and traditional print sales are parallel offerings that can co-exist together," explains Bjorn Iooss. "In fact, NFTs can provide revenue in perpetuity," he said, explaining that photographers will continue to receive commissions on the resale of photographs already on the Blockchain, something they do not receive in the traditional open market. "Photographers traditionally received payment from the initial sale of a print, but nothing from the resale of that same print. This changes everything."

About the Participating Canon Legends

Sam AbellNational Geographic magazine photographer

Barbara Bordnick – Internationally renowned portrait and fashion photographer

Gregory Heisler – "The eye of an artist, the mind of a scientist, and the heart of a journalist"

Ryszard Horowitz – Pioneer of special effects photography

Walter Iooss Jr – "The Rembrandt of sports photography"

Melvin Sokolsky – One of the great editorial fashion photographers of our time

Joyce Tenneson – A master of the haunting, ethereal, mystical photographic style

For more information about the Canon Legends, please visit:
https://canon.us/nft

About Canon U.S.A. Inc.
Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions to the United States and to Latin America and the Caribbean markets. With approximately $30.6 billion in global revenue, its parent company, Canon Inc. (NYSE: CAJ), as of 2021 has ranked in the top-five overall in U.S. patents granted for 36 consecutive years† and was one of Fortune Magazine's World's Most Admired Companies in 2022. Canon U.S.A. was featured in Newsweek's Most Loved Workplaces list for 2021, ranking among the top 100 companies for employee happiness and satisfaction at work. Canon U.S.A. is dedicated to its Kyosei philosophy of social and environmental responsibility. To keep apprised of the latest news from Canon U.S.A., sign up for the Company's RSS news feed by visiting www.usa.canon.com/rss and follow us on Twitter @CanonUSA.

About Immutable Image
Immutable Image is dedicated to creating a broad and inclusive new collector community for ownable and authentic digital works of the most iconic photographers past, present, and future. Partnering with the top NFT marketplaces, leaders in Web3, and metaverses, Immutable Image has built a vibrant blockchain-agnostic channel network for its artists and community to thrive. They were founded in 2021 by Jeffrey Caldwell and Bjorn Iooss.
https://www.immutableimage.com/

†Based on weekly patent counts issued by United States Patent and Trademark Office.

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SOURCE Canon U.S.A., Inc.