- 1 Rarible counts among the leading NFT platforms.
- 2 Many digital artists have sold their works as NFTs for Millions of dollars.
Non-fungible tokens (NFTs) marketplace Rarible and American business magazine Forbes have joined forces to roll out an art contest for digital artists. Their Official announcement revealed there will be a special prize sponsored by NFTNYC, a NFT-based event. Moreover, the collaboration will focus on emerging artists, allowing them to showcase their art.
Famed Leaders to Sit on Judges’ Seats
Web3 is considered as the next iteration of the internet where users can control their own data unlike the current internet or Web2. “Our collaboration with Rarible aims at recognizing these emerging artists and highlighting their unique contributions in the evolving landscape of digital creativity,” said chief growth officer of Forbes, Alex Salnikov. “The artistry, creativity and storytelling capabilities of web3 creators deserve a place on the global stage and we’re excited to provide it.”
Furthermore, the contest will feature recognized personalities including World of Women CEO Shannon Snow, HUG CEO Randi Zuckerberg, digital pop artist Sara Baumann, and more as judges. There are rewards in the form of cryptocurrencies for the top 10 artists upon the contest’s end.
According to Rarible co-founder Alex Salnikov, “Empowering artists and creators lies at the heart of what we do at Rarible. Our collaboration with Forbes to launch an emerging artists competition expands our mission, bringing the brilliance of emerging talents to the world of digital collectibles, where artists can build new communities and monetize through royalty-respecting platforms like Rarible.”
Rarible is among the leading NFT platforms preferred by users for trading digital items. It supports multiple blockchains including Ethereum (ETH), Tezos (XTZ), Flow (FLOW), among others. RARI is its native currency.
Several artists who struggled to put their artwork in front of the audience as well as generate profits are turning towards Web3 platforms. OpenSea, the biggest NFT platform, has garnered nearly 121 Million views to this date with 1 Million active user wallets.
Although complicated for many, the ones who have learned about it have made fortunes from selling digital art as NFTs. Michael Joseph Winklemann, who is professionally known as Beeple, sold his work called ‘Everydays: The First 5000 Days’ for $69.3 Million (38,525 ETH at that time) in March 2021.
The same artist sold another of his works dubbed ‘Human One’ for $28.9 Million in November 2021. Other notable names in this context include Pak who sold his work in collaboration with Australian editor Julian Assange called ‘Clock’ for $52.7 Million in February 2022. FreeRoss, an NFT by the creator of the darknet website Silk Road, Ross Ulbricht, fetched $6.12 Million in December 2021.
Given its underlying technology, blockchain, many deem it unfit for the environment. This has raised concerns among different communities, specifically in gaming. Organizations like Ubisoft and SEGA had to face backlash from fans in the past after announcing the integration of technology in their games. However, no such reaction has been witnessed by digital artists as of now.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.