Yahoo is helping Black artists enter the NFT digital art world

Asia's Tech News Daily

NFTs are a game-changer for the art world. (Getty Images)

Words by Lauren Dei

Art has been a storytelling platform since the beginning of time. Creatively, the possibilities are endless – commercially, however, the closed network within which fine art is traditionally produced, rated and purchased caps just how far those outside the network can progress within it.

Until now. In a time where the concept of ownership is becoming less about bricks and mortar and more about narrative, a compelling story can be told through art, sold at a sky-high fee, and leave the seller free from the confines of class, place or medium. How? With NFTs.

Read more: Frustrated with the lack of Black haircare products available in Scotland, this woman created her own

Imagine a long row of people, longer than the Great Wall of China, standing shoulder-to-shoulder playing an epic game of pass the parcel; everyone gives a parcel to the next person while receiving one from the person before. Now imagine that each parcel gains value every time it hits the next pair of hands until someone drops it, which means the value drops, too. This human line is blockchain and the parcels are cryptocurrency.

Have you got that part? Okay, now envisage this chain of people moving from that long Great Wall of China line and forming shapes – a house, a car, the pyramids of Egypt – all while continuously passing those parcels. Picture them standing in the form of the Mona Lisa, frame and all. Do you see it? Now you're looking at an NFT, a game-changing format for digital art that uses blockchain as a record of origin, giving collectors an item with real-world Ethereum coin value and artists from outside the elite world an opportunity to trade at top-shelf levels.

NFT stands for non-fungible (or unchangeable) token. Its uniqueness makes it attractive, and its fixed status guarantees that a) nobody can modify it and b) the artist can be identified as the creator and owner.

To date, the highest-selling NFT ‘Everyday – the first 5000 days’ by Beeple, sold for $69million at Christie’s auctioneers. (Getty Images)

Read more: Black History Month 2021: 10 best books by Black authors to put on our list

NFTs, like crypto coins, are powered by blockchain and valued in Ethereum. The sale prices of some of these digital artworks are stratospheric. To date, the highest-selling NFT, 'Everyday – the first 5000 days' by Beeple, sold for $69million at Christie's auctioneers. Before this, Beeple had only ever sold a physical print for $100 – he now sits among the top three most valuable living artists, with both the second and third highest-selling NFTs in his catalogue too.

These digital entities create culture shifts within the industry by creating new stories from a new wave of artists. The tools to develop NFTs are being placed into the hands of creatives whose voices add something new and needed to the fine art canon.

Enter team Yahoo. Yahoo Creative Studios is a multidisciplinary team of filmmakers, editors, designers, and strategists. It is passing its baton of extended reality (XR) innovation to educate those who can grow their physical art practice into a digital legacy. Eight selected artists signed to Disrupt Space, a Black art gallery and artist agency based in Brixton Market, south London, will be creating works using NFT technology for the first time under the tutelage of Yahoo's specialists.

Read more: Four Black women on beauty, business and identity

With step-by-step meetings and consultations, Yahoo Creative Studio's LA team will digitise the works using the visual features of each artist’s choice – there is scope to slice layers into their work, embed hidden doors leading to other 'rooms' and dimensions, integrate soundtracks and narration – so the artwork then becomes an altered-reality expedition the viewer can investigate beyond the surface. This truly disruptive experience flips the usual methods of consuming art.

Disrupt Space is a perfect partner for such a world-changing project. Their roster showcases artists with a range of practices in painting, sculpture, film, photography and more. Based in the heart of a changing community, the opportunity to develop a lasting heritage is a huge driver for their involvement in the project.

“By nature, our position in the heart of a gentrified marketplace is disruptive,” says Paul Reid, founder of the agency. “We're about introducing sustainable culture into spaces where you might not usually find it. The NFT space is an exciting opportunity to take the artists' work further, and we're excited to show the world what they come up with.”

So what are the social implications ushered in by NFT art?

“We are recording our truths as seen by our eyes,” says Lady Phoenix, XR and NFT consulting specialist, founder of Yes Universe, and mentor to the artists throughout the project. “This is a dynamic that rewrites history. Now your memories can be linked to a forever type thing. The narrative behind the most famous classical artworks are a legacy, a mythos – now we can create our own. These artists are inviting people to enrol in a whole history now.”

New legacies considered whether the gatekeepers embrace this change or perpetuate the same hierarchies by being wealthy enough to own these works? Well, the distribution of ownership doesn't always fall to a sole owner or collector. Platforms such as PartyBids make it possible for communities or 'parties' to benefit from collective ownership, which gives multiple people a portion of the artwork, much in the way that fractional ownership of bitcoin is possible. And even those with the wealth advantage have an investment in seeing the scene grow.

“Network and community are the foundation of the NFT space,” Lady Phoenix. “There's a tendency for artists not to ask for what they need around money. Some people are crypto-rich, have the tools and are willing to help you because this is what they live for.”

Original art selling for massive figures is nothing new. However, the reality of who is selling this artwork is getting newer by the day. And with the potential for anything digital to be made into an NFT, the story is just beginning.

Watch: Black & Beautiful in Britain

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

WhatsApp tips: How to customise the app for yourself on Android

WhatsApp is one of the most popular instant messaging services, that is used by people across the world. The end-to-end encrypted messaging platform allows us to connect with users from ... Read more »

Tamil Nadu rains: IMD says no relief till November 30, CM Stalin briefs governor

With Tamil Nadu lashed by incessant downpour for the better part of the last 48 hours, the Indian Meteorological Department (IMD) has predicted decrease in rainfall activity over the state ... Read more »

MFIs should not throw caution to wind for higher asset growth, returns: Deputy Governor M Rajeshwar Rao

© Provided by Zee Business Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the ... Read more »

Delhi court summons P Chidambaram, his son Karti on Dec 20 in Aircel Maxis case

File photo of P Chidambaram (PTI) The Rouse Avenue court in Delhi has taken cognisance of the chargesheets filed by the Enforcement Directorate and the Central Bureau of Investigation against ... Read more »

Antim The Final Truth Box Office Day 1: Salman Khan Film Gets a Slow Start, Earns Rs 4.5 Crore

© Provided by News18 Antim: The Final Truth, headlined by Salman Khan and Aayush Sharma, opened to decent reviews on Friday, however, the positive response did not translate into box ... Read more »

Ranbir Kapoor or Shahid Kapoor: VOTE for the dapper dude who styled his casual look perfectly with jacket?

© Provided by Pinkvilla Another busy week has ended in Bollywood and well, what has been different this time is that more than the ladies, our dapper dudes have managed ... Read more »

Print ad volumes registered 37% year-on-year growth in Q3 2021: Report

© Provided by The Financial Express The top 10 sectors accounted for more than 63% share of total ad volumes in print during July- September 2021 Print ad volumes saw ... Read more »

Vicky Kaushal's cousin sister SHUTS down rumours of his wedding with Katrina Kaif!

© Provided by Zee News New Delhi: Amid strong rumours of Vicky Kaushal and Katrina Kaif‘s marriage, the ‘Sardar Udham’ actor’s cousin sister Upasana Vohra has denied all reports of ... Read more »

IND vs NZ: Axar Patel's 5-wicket haul, R Ashwin wrap up New Zealand innings for 296 on Day 3

© Provided by DNA India spinners Axar Patel and R Ashwin make sure to wrap up the New Zealand innings for 296 on Day 3 of the first Test at Green ... Read more »

Omicron Tracker: Samples of Covid+ Travellers from 12 'At Risk' Countries to be Sent for Genome Sequencing

© Provided by News18 Omicron Tracker: Samples of Covid+ Travellers from 12 ‘At Risk’ Countries to be Sent for Genome Sequencing On alert over the new Omicron strain of Covid-19, ... Read more »

Rangnick ‘clause' could see him take permanent Man Utd job

© PA Images Ralf Rangnick speaks during his role as a pundit Imminent new Man Utd interim boss Ralf Rangnick could yet become the club’s permanent manager in the summer, ... Read more »

Mikel Arteta admits Newcastle wealth will be challenge to rest of Premier League

© PA Wire Arsenal manager Mikel Arteta admits the rest of the Premier League will have to respond to Newcastle’s new-found wealth (John Walton/PA) – PA Wire Mikel Arteta has ... Read more »

After relegation 3 days into job, new Waterford boss says call to take over on Tuesday came 'totally out of the blue'

© Ryan Byrne INPHO Waterford manager Ian Hendon pictured during last night’s game. IAN HENDON says he was asked ‘out of the blue’ to take over as Waterford manager earlier ... Read more »

This Is Why Lush Just Quit TikTok, Instagram & Other Social Media Platforms

Lush has decided to leave four major social media platforms until they “take action to provide a safer environment for users”. On Friday 26th November, the brand deactivated its TikTok, ... Read more »

Shaughna Phillips felt like the 'token fat girl' on Love Island

Shaughna Phillips felt like the ‘token fat girl’ when she appeared on the 2020 series of Love Island credit:Bang Showbiz Shaughna Phillips felt like “the token fat girl” when she ... Read more »

Hunderte Iraker verlassen Belarus – Rückflüge von Minsk nach Erbil

© Keystone/AP/Hussein Ibrahim Nach wochenlangem Ausharren in Belarus an der Grenze zu Polen sind erneut Hunderte Migranten in ihre Heimat Irak zurückgekehrt. Eine Maschine vom Typ Boeing B747-400 der irakischen ... Read more »

Russia mourns 51 killed in mining disaster, police make arrests

People lay flowers at the monument “In Memory of Kuzbass Miners” to pay tribute to the miners and rescuers killed in an accident at the Listvyazhnaya coal mine, in Kemerovo ... Read more »

Trauma, identity and love: Being adopted didn't give me a better life, but changed my path

While this month honors and recognizes the lives changed by adoption, it should ignite a serious effort to talk about adoption in schools and our communities. Read more »

India asks Starlink to obtain license for internet services

NEW DELHI — The Indian government has asked Starlink Internet Services of Elon Musk’s SpaceX aerospace company to comply with the country’s regulatory framework before offering its satellite-based internet services. ... Read more »

I'm a child sleep expert and there are three things every mum of a newborn needs to know

WHEN it comes to having children nothing is easy, particularly if it's your first one. But what can make every other decision and action a million times harder is when ... Read more »

I'm A Celebrity 2021 news: Naughty Boy ‘lost self-confidence' as Richard Madeley opens up about ‘psychological pressure'

NAUGHTY Boy's family has slammed “toxic trolls” after they claimed that he's “lost self-confidence” caring for his sick mum. The music producer, 36, – real name Shahid Khan – is said to ... Read more »

Woman devastated after no-one turns up to her party leaving her sat alone with piles of food and party treats

A clip has gone viral of a woman sitting at a table on her own after no one showed up to her planned dinner. Christian Zamora, who goes by the ... Read more »

Fight iron deficiency with these 7 winter fruits and veggies

Iron deficiency anaemia is a problem which developing countries like India have been fighting with since ages. Despite the National Nutritional Anaemia Prophylaxis Program, lakhs of women and growing children ... Read more »

Renaissance on the Bergen line: The small compartments will be returning

Many people remember the small compartments with six seats, where stranger train passengers often got talking. Now, the compartments are on their way back. From December 12, people can travel ... Read more »

Tactics Board: Was Katie McCabe used to best effect?

Vera Pauw’s Irish team came into this tie against Slovakia looking to build on the momentum of their fantastic 2-1 win away in Finland last month. This game would be ... Read more »

Maura Higgins stuns in a cream dress to celebrate her birthday

© Provided by Daily Mail MailOnline logo Maura Higgins looked stunning as she shared a glowing snap of herself on Friday celebrating her birthday in The Maldives.  The former Love ... Read more »

So 'Squid Game' was your first Korean drama, what next?

© Provided by Independent Online (IOL) So like millions of people around the world, “Squid Game” was the first South Korean drama you watched. And now, you have been sucked ... Read more »

Massive search failed to find Stafford couple gone missing: What we know

STAFFORD – After more than 100 volunteers, police officers and firefighters combed the woods of the Warren Grove section of the township, the search for Lorraine and Gary Parker entered ... Read more »

Suspected Omicron case found in Germany, regional minister says

The spread of the coronavirus disease (COVID-19) continues in Frankfurt BERLIN (Reuters) -The Omicron variant of COVID-19 has probably arrived in Germany, a minister in the western state of Hesse ... Read more »

Chaos at I'm A Celebrity as intruder breaks in to camp

© Provided by Extra.ie It’s another blow for I’m A Celebrity as reports say an intruder caused chaos by breaking onto set before being tackled by security. Earlier this week ... Read more »

Report reveals who Man Utd will ‘turn to' if they miss out on Poch

© PA Images Mauricio Pochettino glances up during a match Man Utd will look to appoint Ajax boss Erik Ten Hag in the summer if they miss out on Paris ... Read more »

PS5 restock: how to get a PS5 console through EE

© Provided by T3 EE PS5 The search for a PlayStation 5 continues but EE has a solution for anyone struggling. The mobile network provider has sporadically been putting the ... Read more »

Veljko Paunovic delivers verdict on Swansea City ahead of Reading FC clash

© Provided by Football League World Championship – Derby County v Reading Reading manager Veljko Paunovic believes today’s opponents Swansea City are ‘vulnerable’ despite labelling them as a ‘good side’, ... Read more »

AJ Pritchard predicts Rose and Giovanni will win Strictly as he admits to missing show

AJ Pritchard thinks Rose Ayling-Ellis and Giovanni Pernice will win Strictly Come Dancing. The former Strictly professional is backing the EastEnders actress and her dance partner Giovanni to take the ... Read more »

Britain's National Grid to review 'some very high-cost' days in power supply

Migrating starlings fly at dusk past electricity pylons silhouetted by the sunset of a clear autumn evening in the Kent countryside, in Graveney, Britain (Reuters) – National Grid said on ... Read more »

Breakthrough Flow Battery Technologies for Grid-scale Energy Storage 2021: Long Operational Life, Eco-friendly Construction and Low Lifetime Cost Drive Market Growth - ResearchAndMarkets.com

DUBLIN, November 26, 2021–(BUSINESS WIRE)–The “Breakthrough Flow Battery Technologies for Grid-scale Energy Storage” report has been added to ResearchAndMarkets.com's offering. The flow battery energy storage solution comprises 2 electrolytes, which ... Read more »

BN tak tanding PRN Sarawak, kata Annuar

© Provided by Free Malaysia Today Gabungan Parti Sarawak (GPS) juga sebahagian daripada kerajaan pusat yang memainkan peranan sangat penting dalam membangunkan negara, kata Annuar Musa. (Gambar Bernama) PETALING JAYA: ... Read more »

Does the Queen have a secret Facebook account?

Photo credit: Max Mumby/Indigo – Getty Images A Royal expert has hinted that Her Majesty the Queen might have a secret Facebook account, revealing that she has “extraordinary” technology skills. ... Read more »

Ozop Energy Solutions and Hyde Engineering to Bring Neo-Grid to Market

OZOP Prepares to Launch the Patent Pending Neo Grid proof of concept Florida, NY, Nov. 26, 2021 (GLOBE NEWSWIRE) — Ozop Energy Solutions. (OZSC), (“Ozop” or the “Company”), announces that ... Read more »

Britons in South Africa battle to avoid £2,285 hotel quarantine as countries race to introduce travel bans

Britons are urgently trying to get back to England from southern Africa to try an avoid the £2,235 hotel quarantine which kicks in at 4am tomorrow. © Associated Press People ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic