NFTs (Non-Fungible Tokens) are a sophisticated universe –– a whole new currency, digital art, and unique ownership all rolled into one. India, on the other hand, has adapted to its market relatively successfully over time (and with patience). With more individuals becoming interested in art, especially digital art, the popularity of cryptoart is only growing.
Digital artists were also ready to embrace this new economy, where their work would be solely owned by someone if it was sold. These works of art are genuinely one-of-a-kind, as they are non-transferable and cannot be exchanged for anything.
Dealing with NFTs, cryptocurrency, and the larger picture of cryptoart isn’t easy, but a few artists have tried their hand at it. We’ve compiled a list of five of these forward-thinking artists who are making the most of the NFT space.
1. Karan Kalra
Karan’s art, as a multi-disciplinary visual engineer, is sure to communicate a storey. Whether it’s a tribute to his hometown of New Delhi or a futuristic reimagining of the 2000 rupee note, his work is complicated in its own right, yet simple to absorb. Karan is far from a one-trick pony, with skills in illustration, animation, painting, sculpture, and more.
Here’s where you can get his fascinating art on WazirX.
2. Ravi Koranga
Ravi has recently been creating art as part of ‘Dark Times’ that says volumes about the COVID-19 scenario in India –– from the fatigued healthcare personnel to the need for the outdoors. Fun, colourful items, such as a series of joysticks inspired by characters from the Powerpuff Girls and Pokémon, are among his other works.
3. Shreya Daffney
Something about artist and architect Shreya Daffney’s work makes you feel at ease and warm on the inside –– with a focus on actual people’s lives and culture, her work is a delight to absorb. Her work has a Southern Indian touch, and we couldn’t be happier. She is originally from Udupi, Karnataka. Her ‘Bhootas’ series will pique your interest in the art styles featured, and we can’t wait for the second edition!
Her work is available for purchase on WazirX.
4. Siraj Hassan
Siraj’s series ‘Caged’ is one we can’t get enough of –– his work is just extraordinary, with out-of-the-box imagination and great execution. The range is eclectic, with something for everyone, from biological formations to designs inspired by nature. The entire topic has a strong impression on us.
On OpenSea, you may see and buy his work.
5. Sneha Chakroborty
Sneha, the woman behind a number of pieces of street art and wall murals, has a distinctive style. We can’t help but be awestruck by the finished goods, which borrow from human nature and nature itself. Sneha’s art is admirable since she takes a unique approach to her work.
Take a look at her work on WazirX.
6. Ayush Gaur
Ayush started the project Mythbits in an attempt to bring mythology to the metaverse. It delves into the lives and tales of people who bring about change and revolution in the world. Queer Mythbits was founded by Anwesh Kumar Sahoo as he realised that the lives of LGBTQIA+ people deserved equal consideration. It continues the narrative of queer people from Hindu mythology, demonstrating that it is not a ‘idea’ imported from the West.
Here’s where you can find his work on WazirX.
What is an NFT marketplace?
Unlike platforms like Spotify and Netflix, which offer unlimited digital material in exchange for a monthly fee, NFT platforms are based on the premise that, like physical content, digital content can be scarce — that is, limited in quantity — and hence meaningfully owned and traded. These platforms use blockchain technology to verify the provenance of digital content, similar to how a traditional auction house might verify that a given work of art is the original and not a replica, and some even allow users to “burn” items, reinforcing the idea of scarcity for these digital products. When the NFT is traded, blockchain-based transaction logs can also help with royalty attribution by automatically sharing a part of money from second-hand sales with the original inventor.
Of course, as with any investment in a new capability, partnering with the right marketplace can open up entirely new markets and revenue streams, while partnering with the wrong platform can backfire spectacularly — and when it comes to leveraging a rapidly evolving new technology like NFTs, the right choice isn’t always obvious. It’s vital to understand the landscape of platforms now available and select which will be the greatest fit for your NFT products to prevent making costly mistakes.