In recent months, no other topic has stirred so much discussion in the art market just like NFTs, a new technology through which digital artworks have been sold by millions. However, these three letters, acronym for “Non-Fungible Token”, are still a great mystery to many people.
Anyone familiar with the investment universe knows that a token represents the digital record, through encryption, of a financial asset. The term “non-fungible” means that something is unique and, therefore, cannot be replaced by another of the same kind, quantity, or value. In short, the NFT corresponds to a kind of cryptographic key that, associated with a physical or digital item, certifies its originality and authenticity.
But what do all these concepts linked to the economy have to do with the cultural industry? One of the factors responsible for the media “boom” of this transaction system, which has been in existence for over five years, has been precisely the sale of works of art at exorbitant prices.
Jason Primrose, a creative who has been obsessed with conceptualizing alternate worlds and characters since childhood, has now brought the power of NFTs to some artists and creatives from marginalized groups, so that they also can benefit from the financial and recognition boost that this technology can bring.
He has recent launched the series LOST CHILDREN OF ANDROMEDA, a series that he’s releasing as NFTs, and the funds coming from those sales will be shared with the members of Evolutionary Art Collective, a collective founded by Primrose that features creatives from marginalized groups and blends art, music, literature, and animation.
Primrose himself is a LGBTQ+ person of color and, therefore, has a full overview about exactly what are the challenges faced by those groups. With the help of NFTs, he hopes it can aid creators of all types to fully obtain equity and reach:
“Evolutionary Art Collective, working in the diverse realm of the LOST CHILDREN world, was created to connect us to our power. NFTs and participating in this accessible virtual space are a natural part of that progression.”
The most recent release of the series is “205Z: Time and Salvation“, set in 2052, just 215 days before the apocalypse. With a planet descending into absolute chaos, afflicted by natural disasters, resource scarcity and civil unrest, a young African-American man with traces of inhuman DNA and supernatural abilities is pulled into a war that can be decisive for the planet’s future.
After raising $70,000 in a crowdfunding campaign to kickstart the series, the paperback and ebook versions of “205Z: Time and Salvation” have launched mid-June, with a limited-edition hardcover edition released back in June 30. The NFTs are available on Mintable.