Non-Fungible Tokens, or NFTs, are the current craze. This is due to the high prices at which some NFTs can be purchased. While NFTs are most commonly used for art, the revolutionary use of blockchain technology is attracting a lot more attention. Many believe NFTs can help increase diversity, equity and inclusion in crypto and art worlds. NFTs make blockchain more accessible to the masses and enable minorities to access cryptocurrency and blockchain technology.
The art industry has traditionally been restricted to a small number of artists. According to one study, 18 of the most prominent US museums’ artists are 85% white and 87% male. These statistics aren’t flattering when it comes to diversity in traditional art spaces. However, because there are no barriers to entry in the NFT space, artists from all parts of the world can easily get exposure to the buzz surrounding these collectible assets.
The NFT space doesn’t have traditional gatekeepers so it can accommodate a wider range of artists. NFTs empower artists by showcasing artwork in a way that was not possible before. This is especially true for creators from developing countries and minorities who previously couldn’t access traditional art. NFTs allow a broad range of artists to earn a living by doing this. NFTs cannot make art affordable to everyone without technology, appreciation, and education. This space will have more variety as more artists become aware of the NFTs and are included in the tech sector. In turn, more people will appreciate their work.
The NFT world provides artists with an opportunity to showcase their work and gives them a sense belonging. It also allows them to make connections with other members of the community. In the past, minority groups have been underrepresented in the art world. It’s easy to understand why minorities don’t feel connected to the art community, especially when you consider the lack of representation and the general lack in connection caused by the pandemic. NFTs offer greater inclusion for those who join the rapidly-growing community.
NFTs also give minorities the opportunity to have more equitable access and wealth. NFTs allow people to access the art market that they may not have been able to sell or invest in in traditional venues. The NFT space, which is powered by blockchain, allows investors and artists of all backgrounds and cultures to close the wealth gap via ownership and collection.
NFTs can create better outcomes for artists in a world where socio-economic disparities exist and historically marginalized groups are often left behind. NFTs have tremendous benefits for collectors and creators. At Loot NFT we are focused on making NFTs accessible and easy for everyone. Loot NFT’s community allows anyone to participate in the world-building and community activities. You are the same world as our world. Visit anytime!
About Loot NFT
Loot NFT is a gamified platform that allows members to bid in an “Battle Bidding” auction environment for NFTs. Each member of the arena can mine Loot Tickets, which are Loot Tickets. The token has a limit of 500 million. Each NFT is a unique creation that can be used digitally or physically and gives ownership to the person who wins it at auction. Loot NFT aims to make the NFT space more inclusive. It gives creators and members access to original NFT collectibles as well as an incredible world that can be used to create an alternative reality.
Loot NFT’s adventure world contains 4,880 plots. It allows plot owners to tell their story by minting up 4 NFTs per plot and sharing in the ecosystem’s revenue. This metaverse allows owners to purchase using their LTT from Loot NFT’s online auction platform, Satoshi’s Lounge. Loot NFT uses a bi-directional bridge between its permissioned-blockchain and public blockchains to decentralize the modules of its ecosystem towards a decentralized autonomous organization. Visit lootnft.io for more information
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