The future is digital, no doubt. The COVID-19 pandemic proved it. It has further pushed digitalization and digitization across all industry sectors and blockchain is considered an innovative frontrunning technology with regards to applicability and usability in these challenging times.
In the art and creative sector, there is a massive paradigm shift with the introduction of Non-Fungible Tokens (NFTs), as the space is acquiring a large number of artists (and non-artists) hoping to capitalize on the innovation and distribution power that blockchain technology is offering. What digitization first removed from art,
blockchain is trying to bring back; reshaping the art world with viable tools for provenance, authenticity and distribution.
The NFT space is generally murky water, especially in Africa. The identified challenges would be lack of technical know-how among the key players in the art industry, an expensive gate fee into the space, policies and legal implications. These are the major areas that will be explored in the conversation with Jumoke Sanwo, Adewale Mayowa, Ade Adekola and Seun Lari-Williams.
What does the future look like for an African Creator? What and Who is NFT for? How does one (by oneself) enter and thrive in the space? Does the government have a role to play in the space? How do they deal with policies, such as taxation, in the NFT space? These and more are some of the questions we hope to adequately answer through the panel session.
This session is hosted by Revolving Art Incubator