'Unlike anything we've ever seen': Black artists use NFTs to cash in on $40-billion market

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NFTs are quickly rising in the mainstream, appealing largely to Black artists who see it as a way to overcome historical barriers and make more money.

Dana Powell-Smith is one of several local Black artists who are selling their NFTs in the metaverse.In her nearly six decades of life, she’d never seen anything like this.her artwork on display. To get there, she’d have to maneuver through the obstacle course ahead of her: a crowd of people standing amid luxury cars, lounging by a pool and drinking at a nearby bar.“I didn’t know what to expect,” Powell-Smith said, “nor did I know how to navigate the space.

Like an original Babe Ruth baseball card or a painting by Pablo Picasso, NFTs can also be recognized, rarified and verified – and sold for millions of dollars., just $10 billion shy of the conventional art market. The highest selling NFT – a collage of photos taken over 5,000 days – sold for $69 million. Christie's and Sotheby's, two of the biggest art auction houses, now sell NFTs.Many NFTs found online are digitally native, meaning they were created digitally from the start.

She struggled through most of 2021 researching and figuring out how everything worked before she found the courage to do it herself. Realizing the benefits, Powell-Smith has started to teach other artists of color how to list and sell their work as NFTs. NFTs 'disrupt' traditional art world, a platform for artists of color which hosts NFT exhibitions as well as music and film festivals in the metaverse.

“That’s never happened before in the art world,” McMichael said. “It’s economic agency for artists unlike anything we’ve ever seen.”, a mother of four now in her second career, “It started fast, and it took off fast.” The most Lewis said she’s sold an NFT for is $1,000. However, an NFT Lewis sold for $110 in January was later listed at $35,000 by the buyer – positioning Lewis to earn an additional $3,500 from its sale, due to the 10% royalty fee., another Indianapolis artist who listed his first NFTs for sale this year. “Instead of flipping houses, we are now flipping artwork.”

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'Historical barriers', lmao. White liberals treat blacks like they are retarded babies.

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