Since it first started in 2016, ART X Lagos has been shedding light on the African art scene. After cancelling its 2020 edition, West Africa’s most prominent international art fair returned this November in a hybrid form with physical and digital events. And this year, the fair gave the central stage to a recent phenomenon called NFTs.
Nigeria’s biggest contemporary art fair showcased digital works of crypto-art for the first time. The fair organized a special NFTs sale in collaboration with the NFT marketplace SuperRare, based on Ethereum-blockchain.
The sale comprised artworks from one of the most prominent crypto-artists in Africa, Osinachi. In March 2021, the Nigerian visual artist became the first-ever African digital creator to auction NFTs at Christie’s Europe. His NFT series sold for over $75,000 in about ten days. Later in October, he displayed his work in the world’s leading African art fair, the London 1-54.
But the virtual exhibition “Reloading” also gave room to diverse art-makers from all over Africa and its diaspora. And from Morocco to Rwanda, many were eager to answer the call.
Jamaican artist Idris Veitch launched his first NFT “Empress I”, drawing inspiration from his Nigerian heritage and Japanese ukiyo-e painting. Other artists explored social commentaries, including Osinachi. In “The Future is Female”, the Nigerian artist questions the place in digital art for African women. Showcasing their work in Lagos, South African Reda Nemakhavhani and Senegalese Linda Dounia proved female artists had more than a say in this conversation.
But beyond the sale, the fair organizers attempted to engage in deeper reflection about crypto art and its meaning for African artists. Both a creative drive and a means of empowering artists, NFTs have the potential to boost the art market in Africa. It is no wonder why the fair also pointed to the need to “demystify NFTs”.
Indeed, non-fungible tokens have fuelled heated discussion recently. These all-virtual assets are unique avatars or projects that stem from blockchain technology. NFTs can then be traded with cryptocurrency, whether it is Ethereum or Solana. Some see them as an economic bubble, while others call NFTs a revolution. And cryptocurrency is no less controversial.
In Africa especially, crypto-trading is a burning issue. In Nigeria, for instance, the Central Bank banned crypto-exchange. President Muhammadu Buhari then introduced the world’s first digital currency. Unlike decentralised currencies such as Bitcoin, however, the eNaira is a mere digital version of the physical Naira.
Despite government disapproval, the enthusiasm for cryptocurrency might keep booming in Nigeria and beyond. Between July 2020 and June 2021, the crypto market grew by over 1,200% in Africa. And the NFT wave is swiping through the continent, too.
With its focus on NFTs, the ART X Lagos fair committed to staying on top of the current art trends. Indeed, the rise of the metaverse very much transformed the art scene. World-building platforms such as Decentraland first organized digital-only NFT auctions and exhibitions. Major digital artists also kicked in a new era. In March this year, crypto-artist Beeple broke all records with a $69 million NFT sale. Yet, the NFT craze didn’t stop at the art market.
Many industries joined the crypto conversation, too. Some fashion designers mixed NFTs with their physical collections, such as sneaker brand RTFKT Studio. Others partnered with online games. Burberry was the first luxury brand to design NFT skits for Blankos Block Party. Louis Vuitton even launched its own mobile game, rewarding players with up to 30 NFTs. And the gaming industry wasn’t late to the party either.
2021 saw the rise of play-to-earn games, where players earn NFTs they can then trade. Cryptocurrencies also took the world of traditional online gaming by storm. Crypto casinos blossomed, while many online casinos started accepting digital currencies. Gamblers can now play their favourite games using Bitcoin or Ethereum, such as Pragmatic Play’s exciting machine slots. From mythology-themed slots to colourful scratch cards, this award-winning studio offers a collection of fun-filled games to suit every player’s tastes. Pragmatic Play boasts innovative features and stunning graphics. But players can also choose to have fun without spending a dime with some free online slots.
The NFT ecosystem is, therefore, growing stronger. And this new digital avenue means new opportunities for visionary artists to thrive, including in Africa. The ART X Lagos made that statement loud and clear.
