This is everything you need to know about Africa and NFTs
NFTs are increasingly popular among South African businesses, with new projects and collections being launched daily. Industry experts believe that NFTs have enormous potential benefits for investors and organisations across industries, especially in Africa. In this article, you’ll find everything you need to know about Africa and NFTs.
Blockchain provides essential opportunities for African artists
The organisers of ART X LAGOS said in a statement on their website that they are very optimistic about the possibilities that the blockchain offers digital artists. For example, blockchain offers starting or relatively unknown artists the opportunity to sell their work online without an intermediary: “This can lead the way towards a more inclusive, and more diverse society”, according to the organisers. As West Africa’s first international art fair, ART X LAGOS is driven to empower African artists. To realise this, ART X LAGOS has partnered with SuperRare and its community of creators and collectors for their new exhibition. We are especially curious about what ART X LAGOS has to offer us in the coming years regarding NFTs.
The empowerment of black artists plays a huge role
Because NFTs make it possible to eliminate the middle man between artists and collectors, more and more platforms that want to empower the black artist are emerging and specifically empowering (female) black artists. An example of this is Black NFT Art, a media & community brand run by creative agency Umba Daima. Black NFT Art aims to promote Black leaders and artists in the NFT area, creating locations and fair opportunities for Black artists, collectors, developers, and founders and helping companies and public personalities engage in the world of NFTs.
More African based NFT platforms and Blockchains will emerge
Another advantage of the current NFT hype is that more and more African based NFT platforms are emerging. An example of this is the African-based and owned blockchain Afen. They believe that blockchain has the potential to transform African society. That is why Afen took the bold step of “launching an African revolution on the backs of a disruptive technology”. In addition to the platform focusing on real estate and education, art also plays a significant role in their eyes. By combining their blockchain technology with art, they want to support African artists. For example, Afen has created a platform for artists to upload and sell their work as NFTs. The emergence of this type of African based NFT platforms and blockchain technology offers a fertile future for the country and its artists.
