Most creative areas are still dominated by white men, notwithstanding recent improvements. These gatekeepers prefer to choose white men as artists. This has created a cycle of injustice that predominantly affects women, minorities, and other underrepresented groups. 85% of American museum artists are white and 87% are male, according to PLoS One.
The Web3 technologies are supporting individuals in breaking that loop and getting away from centralized gatekeepers.
Open-and-inclusive economic models
Artists can sell their work autonomously utilizing non-fungible tokens (NFTs) and blockchain technology. Artists can skip gatekeepers and directly contact their present fans while keeping creative control and IP rights. Smart contracts allow creatives to earn a supplementary income when their work is sold.
Nea Simone, founder of Melanated Studios and NFT Atlanta Con, described this royalties structure. “The ability for content creators to earn royalties and create nonfungible tokens completely changes the game,” she added.
Simone said the tools enhance openness, leading to larger financial benefits for producers across demographics. “Blockchain technology and NFTs give an unparalleled potential for creatives,” she said. “They undermine the barrier of gatekeepers via universal transparency among all stakeholders.”
NFTs eliminate the idea of the destitute artist. A new era of creativity is beginning to pay off for artists of all backgrounds. Farah Allen, founder of The Labz, told nft today, “Creativity has long been a prized commodity, but monetization was limited by system chain structures.” New financial technologies like NFT and Blockchain allow a strong new revenue model for creators.”
NFTs increase income equality and monetization opportunities. Simone says NFTs are already used to transfer income to underrepresented groups. Many projects give revenues and earnings to organizations that represent their identities and views. “This approach to giving increases income distribution,” she said.
NFTs enable anybody to buy and sell fine art and antiques, democratizing access to wealth-generating asset sectors. Still more…
NFTs have been catalysts for creative expression and education about different cultures and movements.
Despite its digital basis, NFT ecosystem members value its true sense of connection, especially for underprivileged people. NFTs have provided a sense of community during times of isolation, civil turmoil, and social injustice in recent years. They’ve empowered needy people and brought attention to the ignored.
NFTs have also offered mission-based collections empowering all races, beliefs, and genders. World of Women is popular. It’s 10,000 powerful NFTs with women in them. It promotes diversity, inclusiveness, and equal opportunity. Witherspoon’s Hello Sunshine has recently signed a deal with World of Women to expand into cinema, television, and educational events.
There’s space for improvement, however. No way. But NFT has more work to do.
White males dominate Web3 despite more disadvantaged voices. All parties must collaborate to make Web3 inclusive. Simone says “extensive outreach, engagement, and education are needed to achieve broad adoption in historically disenfranchised and underrepresented communities” for NFTs and Web3.
Simone established NFT Atlanta Con to fix this. She hopes the event will help bridge divides and attract attention to diversity, equality, and inclusion (DEI). NFT Atlanta Con was formed to initiate a much-needed discourse about how DEI is vital to the development of Web3. “We wanted to present diverse visionaries, entrepreneurs, SMEs, thought leaders, and inventors,” Simone said. Instead than waiting for a party, we threw one and sent invitations. We’re not here to be othered; instead, we’re showcasing DEI in Web3.”
The first NFT Atlanta Con brings together blockchain engineers, gamers, artists, investors, companies, and fans to boost Web3 adoption. The event is May 24-26, 2022. First event will include 50 world-class speakers. Seminars, pitch challenges, and immersive art installations may help creators reach new audiences.