Monday, January 30, 2023
  • Prince Jacon Osinachi is the first artist who popularized NFT in Nigeria
  • Anthony Azekwoh and Prince Jacon Osinachi scored high within the marketplace: 5.5 ETH and 22ETH, respectively, equivalent to $25000 and $83000.
  • With the current incline of activities involving digital assets, the NFT marketplace in Africa will need Nigerian artists for much longer.

Blockchain in Nigeria is a broad-spread concept throughout Africa and the globe. Despite the ongoing crypto winter, the country still dominates the crypto ecosystem. As it continues to climb the ladder to success, Nigeria has turned its eyes on one of the most dominant digital assets in Web3, NFT. The NFT marketplace in Africa is a steady but growing venture. Currently, NFT in Nigeria is a lucrative venture that Nigerian artists have caught the eyes of the entire world.

The digitalization of art has expanded the reach of artists worldwide, and in Nigeria, it’s another field open for domination. Its expansive reach and worldwide audience have led these innovative and creative workers to express their culture to the global mass. Nigeria dominating the crypto ecosystem of Africa was more than just a fluke.

NFT in Nigeria get the extra spotlight.

NFT in Africa is generally a recent concept far younger than its counterpart crypto but much older than the concept of Metaverse in Africa. However, despite its relatively new nature, the NFT marketplace in Africa reived a relatively warm embrace that astonished many. The concept of finally acquiring the means to own digital art rocked the entire ecosystem as artists from Kenya, South Africa, Ghana and Nigeria ran up on the opportunity to acquire a global platform to showcase their artwork. Soon after, it would become a dominant digital asset within Africa’s ecosystem.

Also, Read African start-ups: metaverse and NFTs remain crucial in boosting economic growth.

During such a period, Nigeria had firmly established its rank as the top crypto exchange country in Africa. The country readily accepted blockchain in Nigeria among its citizens despite their government having an adverse opinion. When NFT in Nigeria slowly gained traction, many Nigerian artists joined the bandwagon that promised fame, international audience, and security over all their artwork. A good deal that many could not refuse.

Osinachi-Nigerian-NFT

Osinachi’s art(image) has propelled NFT in Nigeria, inspiring many Nigerian artists to take the mantle and place Nigeria at the top of the NFT marketplace in Africa.[Photo/BBC]

Prince Jacon Osinachi is the first artist who popularized NFT in Nigeria. This Nigerian artist had a vision for the art world’s future, but he could not do it alone. Thus he joined Rare Art Lab, a platform that educated him on the various steps he needed to take to start his NFT and blockchain journey.

His ambition, creativity and innovative mind led to great heights that inspired the enure NFT marketplace in Africa. He became the first African to be featured in Christie’s NFT auction. This was a stepping stone in leasing him to sell a single NFT artwork for $75000 within ten days of its release. This generated a common mindset among Nigerian artists, which geared them to rely on this dominant digital asset.

The ignition

This energy and zeal birthed one of the largest NFT marketplaces in Africa, right in the heart of Nigeria, as artists poured their efforts and creativity into expanding NFT in Nigeria.

When people say that Africa contains a plethora of culture and creativity, it is no mere saying. During the infancy stages of NFT in Nigeria, two major players, Anthony Azekwoh and Prince Jacon Osinachi scored high within the marketplace. They made sales worth 5.5 ETH and 22ETH, respectively, equivalent to $25000 and $83000. They earned this from their The Red Man and The Future is Female NFT art pieces on SuperRare.

Also, Read How the African NFT market is surviving the crypto crash.

Nigerian artists’ exceptional talent and concrete culture led to the mass rise of the NFT marketplace in Africa. By showcasing that their talent can pay off. Gone were the days when artists received pennies for their hard work. NFT in Nigeria proved that with there as an alternative income source based crypto. The hype constantly grew even amid the crypto ban in Nigeria.

New artists popped up from all corners of Nigeria. Adewale Mayowa, a Nigerian artist, stated that it was his long-time passion to be an artist, but there wasn’t a way for him to make a decent living. Fortunately, the NFT marketplace in Africa changed it all. The good pay and the global exposure allowed him to pursue his creative dreams with the hope of making even more out of his talent.

Today Mayowa is making waves in NFT in Nigeria as her artwork circulates the NFT marketplace in Africa. This is, however, a familiar story as Blockchain in Nigeria has led to the evolution of how Nigerians think about money.

A mass uprising of Nigerian artists led to the creation of NFT marketplaces.

Nigeria hosts one of the largest NFT marketplaces in Africa. It soon became clear to several innovators that the NFT in Nigeria alone would end up overflooding various marketplaces. As a result, various opportunities saw the lucrative potential an NFT marketplace would have, resulting in the creation o numerous organizations. Below are a few NFT Marketplaces that have dominated Nigeria and Africa.

Afropolitan

The Afropolitan is an NFT marketplace designed to empower Nigerian Artists by giving them a platform to showcase their talent. The organization’s main aim is to build a network comprising the best that Africa can offer across art, finance, tech and media.

Also, Read about African Artists using NFTs to promote their culture to the world.

They also led to the mass expansion of blockchain in Nigeria by inspiring and investing in its users. Nigerian Artists often run towards this NFT marketplace for guidance, support and the necessary environments to grow their NFT careers. Through the Afropolitan Network, they can spread their message of the NFT marketplace throughout Africa. They are even issuing digital passports, a critical access requirement to their blockchain network. Aside from increasing blockchain in Nigeria, Afropoltan also seeks to empower each Nigerian Artists.

Best Blockchain Devs

Best Blockchain Devs is one of Nigeria’s foremost NFT marketplace platforms built to empower and incorporate numerous Nigerian Artists. The IT firm has developed various techniques to power the blockchain-based virtual systems within the country to host, mint and store NFT in Nigeria and the globe.

Their development team has assisted this digital asset by leveraging their expertise. They included AI, ML, RPA, Dart and others to create the optimal systems.

This ensures that their customers and clients always acquire top-notch services. They follow a transparent pricing policy, ensuring that their users do not undergo additional development charges that are often frustrating. Aside from contributing to NFT in Nigeria, they have also developed crypto wallets, DeFi exchanges, blockchain and DeFi exchanges, and Big Data analysis.

Suffescom Solutions

This is a renowned NFT marketplace in Africa and Nigeria. It started in 2013, and the IT company has expanded its reach and ingenuity throughout Africa. It has more than 150 projects in blockchain apps, wallet development and other organizations. The company has mainly focused on blockchain in Nigeria to expand its awareness and utilize its efficiency. This company is responsible for the widespread adoption of NFT throughout Africa as it offers a highly reliable, secure and bug-free NFT marketplace.

Nigeria taking over another domain

With the current incline of activities in the NFT world, the marketplace will need Nigerian artists for much longer. Nigeria already dominates the crypto ecosystem in Africa, and its slowly heading for its NFT marketplace. Most of the top-paid NFT artists in Africa are initially from Nigeria. The growth of NT in Nigeria is a force to reckon with, and with its current pace, it may dominate this digital asset.

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