Forget mowing lawns and walking dogs, some Gen Z kids are finding cooler ways to make money this summer - think NFTs, art and community! NFT art by child and teen artists are sky-rocketing right now. For younger creators in this Wild West of art, the wave hasn’t even begun cresting yet.
As random as it may sound - more often than not, these cool kids put their work up for auction without much expectations and end up becoming blue-chip artists overnight! And now, they are cashing out enough to help their parents pay off house and car mortgages! Most of them have also begun investing in the early works of other young artists who are bypassing the traditional art market to find a stable of eager buyers in the world of cryptoart.
NFTs just like Bitcoin and other cryptocurrencies have been subject to volatility since hitting the mainstream. The initial bubble has surely burst but what remains is a steadily flourishing market for digitally-native art and collectible virtual paraphernalia. Plus, the free-for-all experience means there’s no barrier to entry, or to investment. That has set fertile ground for little artists to bring their digital art to the world.
But how exactly do these child artists find their foothold in the world of virtual art? The process of minting an NFT goes something like this: first, you apply to be featured on a marketplace like SuperRare which can take about a month to be accepted into. Then you access a site where you upload the digital file you’d like to list and ‘tokenize’ it by paying a minting fee. Now since these artists are minors their parents help them set up a PayPal account and a Bitcoin wallet to be used for transactions. From there on it’s about developing hype and connecting with other artists and collectors who bid on each other to boost visibility and sales. It’s accessible to anybody, anywhere, anytime to meet on the blockchain and you get people to notice your work easier than if you were to be in a traditional gallery or traditional art setting. This has in a way democratised the world of art for children of this generation. They can now circumvent the stuffier side of art sales and the obstacles that more established gallery processes present - not to forget how much harder it gets when you’re not an adult yet. This also gives them the chance to create a community that’s independent of outside arbiters.
What’s even more wonderful to see is that these artists have created a solid community for themselves. Their work is getting valued not only for it’s intrinsic worth but also for the identity and culture they represent. For the first time in history, artwork is getting recognised conjointly to the artist’s value system and background. What a wonderful time to be living in!
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