Art and paintings help engrave the works of great artists long gone. They are appreciated by all, and collectors are known to pay premium prices to acquire coveted paintings. Who wouldn’t like to own the Mona Lisa or Leonardo Da Vinci’s Salvatore Mundi painting, afterall.
But the reality is that only a handful of people can truly acquire these arts, as they are quite expensive. How many individuals have pockets that can cough out $850 million for the Mona Lisa? Well, let’s just leave it to the filthy rich.
In recent times, NFTs have helped bridge this gap, making it possible for anyone to become a collector while opening up the room for emerging artists to build their projects.
Level-Playing Field for Creators
You can mention the names of notable artists that you know, and there is the possibility that the names you will mention will be dominated by Europeans and Americans, and most likely, they will all be male.
Research published by PLoS One showed that 85% of the art in American museums was created by white artists, while 87% of the art was created by male artists.
NFTs have helped create a level-playing field for all creators around the world. The notion of starving artists is gone as digital artists can now build online communities, make sales, and even earn royalties from secondary sales.
Opportunity for Collectors
Prior to NFTs, art could be categorized as being within the domain of kings and the wealthy. They are expensive, and their purchase is not even open to all. Publishers and notable auction houses were the ones who conducted the sales. Therefore, for the average individual, acquiring such art is not even in the equation.
NFTs have created an atmosphere where collectors irrespective of their status can easily acquire digital art. With the prevalence of generative art collections, young collectors can buy NFTs at drop just as a rich collector would and they can both be participants in the same NFT community.
For instance, a collector who was able to acquire a BAYC NFT at its initial launch still holds the same rights as the collector who spent hundreds of ETH to acquire similar art at present price. In essence, NFTs help bridge the gap that has existed in art for centuries, further closing the gap between sectors of society. In NFT, there is no such thing as white, black, hispanic, or underserved communities. As long as you hold a piece of a collection, you are a member of the group.
NFTs are more than just digital art, they are helping to create equal opportunities for all irrespective of their societal status, race, or colour.