Melanistic Magazine - Vol. 10

TECH TALK

BY CHARD JOSEPH

HOW NFTS HAVE IMPACTED THE CAREER OF BLACK ARTISTS?

At the beginning, NFTs were only used as a digital piece of art. The underlying asset only held subjective value and was only used as a means to show off.

In recent years, NFTs have evolved into utility tokens. The underlying asset of utility NFTs (uNFTs) aren’t just used as a means to show off, instead they offer functionality as well. Here are the common underlying assets of uNFTs:

Gaming ItemsExclusive-MembershipGovernance Rights

NFTs have made a positive impact on the life of Black artists. Before we talk about how NFTs have made a huge impact on the life of Black artists, let’s define NFTs.

The word NFTs stands for Non- Fungible Tokens. These tokens are used as a digital ownership for the underlying assets. The most common asset turned into NFTs is art, but literally anything can be turned into an NFT.

It could be an illustration, picture, signature, tweet, or even a shadow (as mind-boggling as it sounds, it’s true).

Now that you’re familiar with NFTs, let’s talk about how they’ve impacted the career of Black artists.

Being an artist is difficult, and being a Black artist is much more difficult. The majority of art galleries simply aren’t interested in the work that replicates Black history or culture. Therefore, monetizing work as a Black artist is incredibly challenging.

This is where NFTs make a difference. Black artists don’t need the permission of an art gallery to showcase work that replicates their culture and history. There are numerous NFT art galleries that focus solely on Black art.

The NFT art galleries have made it much easier for Black artists to gain exposure and monetize their work. Here is what Vakseen (one of the biggest Black NFT artists) has to say about the impact of NFTs. “There are so many hurdles and obstacles involved with gaining any sort of recognition within the art world as a Black man, as a man of color or as any person of color. The NFT space is changing that, and the exhibition is giving us an opportunity to be seen.”

As of now, these NFT art galleries are helping Black artists build profitability through their work. What’s even better is the number of such art galleries are growing at a rapid pace.