Promoting Diversity in NFTs: An Opportunity for Web3

03/18/2023 21:27 • Digital Disruptors • 97 views

According to reports, Amberfi CEO JD Lasica stated that the NFT market should promote “underrepresented artists and art forms.” Western art continues to dominate the NFT field and is often seen as more valuable and prestigious than art from other cultures, which may limit the visibility and recognition of non Western art forms. Instead, Web3 can eliminate cultural boundaries.

Viewpoint: The NFT market should promote “underrepresented artists and art forms”

Analysis based on this information:

JD Lasica’s statement highlights a significant issue in the NFT market: the domination of Western art, which creates limited access to visibility and recognition for underrepresented artists and art forms. Western art’s prestige often hinders the acknowledgment of art originating from other cultures. Therefore, to promote diversity and equality, Lasica suggests Web3, a decentralized system that allows equitable access to information and resources.

The non-Western art market is enormous, comprising endless forms of art, expression, and culture. Despite their richness and diversity, many are undervalued and underrepresented in the global art field. Western art has enjoyed a longstanding dominance worldwide, entrenched since the colonial era, and still revered in many art circles. However, this paradigm of thinking undermines art appreciation and understanding, promoting group thinking and stifling creativity.

The NFT market is a modern digital marketplace that holds the potential to challenge such thinking. It is a decentralized platform that has eliminated the geographical boundaries imposed on the traditional art world. NFTs help identify, monetize, and provide data ownership for digital artwork, from a traditional European oil painting to an indigenous African carving. Underrepresented artists from marginalized communities stand to gain the most from the new market since their art has been historically overlooked.

Web3 technology provides a unique opportunity. It’s a digital space where users control their data without being monitored, enabling real-time data trading across a decentralized infrastructure. Unlike traditional web services, the user’s information is encrypted, and they decide who can access it. This technological innovation eliminates the monopoly of big tech companies, which play a significant role in censoring and blocking content, some of which includes art that is often culturally significant to underrepresented communities.

In conclusion, diversity should take the front seat in the NFT market. Lasica’s statement prompts individuals and organizations involved in the NFT market to recognize the dominance of Western art and promote diversity by embracing non-Western art forms. Web3 technology offers an opportunity to realize this vision by creating a decentralized marketplace that promotes inclusivity, diversity, and transparency.

Therefore, the NFT market should leverage the power of Web3 technology to create an ecosystem that collaborates with artists from different cultures, giving underrepresented artists equal opportunity to showcase their art at the global level. A more diverse, inclusive, and equitable NFT market would, undoubtedly, benefit everyone and contribute to a better future for art collectors, artists, and enthusiasts globally.

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Promoting Diversity in NFTs: An Opportunity for Web3

Viewpoint: The NFT market should promote “underrepresented artists and art forms”

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