A Kenya-based digital media company, Picha Images, is reported to be holding one of the first non-replaceable token (NFT) auctions in Africa. The auction event, which will take place between April 26 and May 3, 2021, will initially showcase the work of Rich Allela, the award-winning photographer and filmmaker from Kenya.
According to a report, in exchange for purchasing the NFTs, buyers will receive “hacker-proof proof of ownership of a digital work of art.” Conversely, the NFTs give artists, who got “a rough deal”, a chance to earn more.
Meanwhile, Picha Images claims in its own statement that the creation of NFTs demonstrates that the company “puts the well-being of their creative artists first by exposing them to a way to safeguard their work, owning the copyrights to their creations. and earn royalties forever. “
NFTs empower artists
On the other hand, Allela praises Picha Images, which uses artificial intelligence and big data, because it allows artists like him to earn more from their works. Allela, whose works are famously described as Afro-Renaissance, also said:
By launching The Rich Allela’s Afro-Renaissance collection on NFT, Picha Images aims to enable artists to retain the copyright of their work and earn from secondary sales. Through this auction, the public places their bids where the highest bidder walks away with a piece of digital art and sends a message to the world about the value of art as an investment worth making.
In the meantime, the report states that Opensea, a non-replaceable digital token marketplace, will host “the NFT auction and artwork”.
Would you agree that NFTs help artists monetize their works? Tell us what you think in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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