4 minute read
African NFT
Non-fungible tokens (NFTs) have gone a long way since the creation of the first one in 2014 called “Quantum”, the slow movement into public awareness since 2017 and subsequently exploding into the mainstream in early 2021. While popular overseas, locally there has been little interest shown in the development and marketing of these distinctive pieces of digital art; that is, until now.
WHAT IS AN NFT?
An NFT is a unique digital asset generally built using the same kind of programming as cryptocurrencies, like Bitcoin or Ethereum, but that is where the similarity ends. Physical money and cryptocurrencies are fungible, meaning they can be traded or exchanged for one another. They are also equal in value – one dollar is always worth another dollar and one Bitcoin is always equal to another Bitcoin. An NFT is a digital asset that represents real-world objects like art and music. Although they have been around for a couple of years, NFTs are increasingly gaining interest now because they are becoming a popular way to buy and sell digital artworks. NFTs exist on a blockchain, which is a distributed ledger that records transactions. This blockchain is visible to anyone who wishes to see the transactions on the specific blockchain.
INTRODUCING AFRICAN NFT
African NFT is a new, privately registered company founded by Namibian Jesko Hoffmann and South African Tristan Bell. It was born out of a passion for blockchain technology and its ongoing innovation, mixed with a desire to support and empower African art and create opportunities for Namibian communities and wildlife. Co-founder Hoffmann explains, “The founders of African NFT wanted to start a company that was at the forefront of NFT technology in Africa and at the same time would be an accessible and accredited platform to purchase authentic art made in Africa, by Africans.”
Namibia is rich with culture and tradition, and there are many Namibian artists with immense potential who have not had the opportunity to showcase their work. African NFT aims to change this. Their aim is to give Namibian artists the platform on which they can sharetheir work, and represent their country. To achieve this, the company has partnered with a variety of Namibian artists with different styles, modes, and mediums of art. Artists include Katherine Hunter, Frans Uunona, Frans Nambinga, Homateni Ilovu, James Hango, Petrus Amuthenu, Ryan de Wee, Tity Tshilumba and Mitchell Gatsi.
African NFT’s first project is called Africa’s Big 5. The idea behind this project is to create something that truly represents Africa and to give the artists a chance to express themselves through each animal NFT created. The artists were given the freedom to create their Big 5 art pieces in different styles.
Whereas the term “Big Five” originated from 19 th -century hunters referring to the difficulty and danger in hunting lion, leopard, rhino, elephant and buffalo on foot, the Big 5 NFTs is rather about showcasing these beautiful animals through art. The aim is also to support conservation by doing so. For every one of these unique NFTs sold, African NFT will donate a portion of the selling price to the International Rhino Foundation. For each of the future collections, the same principle will be applied, with a portion of sales going towards charitable organisations throughout Africa.
