The early days of the NFT ecosystem brought with it a unique set of challenges for artists looking to establish themselves in the space. One of the most prominent of these challenges was the fact that the ecosystem heavily rewarded artists who were popular on social media platforms such as Instagram, and who were able to produce new art on a daily basis.
This led to a situation where many artists who were incredibly talented but who took more than a few hours to produce their work, were left behind. These artists were at a disadvantage as they were not able to farm social engagement as easily as their more active peers. This has created a misperception of talent vs. quality that persists today in the NFT ecosystem, and it is a problem that needs to be addressed.
This misperception is a result of the early days of the NFT ecosystem, where the value of an artist was determined by the number of followers they had on social media. This led to many talented artists being overlooked, as their work was not as visible as that of their more popular peers. This has created a situation where many collectors are not aware of the true talent that exists in the NFT ecosystem, and this misperception needs to be remedied.
Collectors play a crucial role in this process, as they are the ones who ultimately determine the value of an artist’s work. By supporting artists who are less visible on social media, but who are equally talented, collectors can help to create a more balanced ecosystem. This will not only benefit the artists themselves, but it will also benefit the NFT ecosystem as a whole, by creating a more diverse and vibrant market.
This isn’t a dig at artists that produce daily work, I encourage all artists to do what Beeple and others do to create work. This is a call for collectors to be better at identifying why the artist is making their art. It’s important to understand that producing daily work is a great way to gain visibility and establish oneself in the NFT ecosystem, but it’s not the only way to be successful. There are many talented artists who take more time to produce their work, and their contributions should not be overlooked.
Being a collector is not the same as being a customer, and it’s crucial to understand the difference. Collectors are not just buying art for the sake of owning it, they are buying it because they believe in the artist and their work. They should be able to identify the reasons why an artist is creating their art, and support them accordingly. By doing so, they will not only be able to build a valuable collection but also help to create a more balanced and diverse NFT ecosystem.
TLDR: The early NFT ecosystem heavily rewarded artists who were popular on social media platforms such as Instagram and produced daily art, while many talented artists who take more than a few hours to produce their work were left behind. This has created a misperception of talent vs. quality that persists today in the NFT ecosystem, and it needs to be remedied by collectors. The role of collectors is crucial in this process, by supporting less visible but equally talented artists they can help to create a more balanced ecosystem which will ultimately benefit the NFT ecosystem as a whole.