More Zimbabwean Artists Pivot to NFTs as Bubble Concerns Mount – Altcoins Bitcoin News

A Zimbabwean artist, Greatjoy Ndlovu, joined the growing list of African artists turning to the non-fungible token (NFT) market after his digital artwork sold for 0.7 Ethereum. The sale, which took place on the Async Art NFT marketplace, marks Ndlovu's first foray into the digital art space.

NFTs an opportunity for African artists

According to a Test report, Ndlovu's digital artwork titled Burnt Out, depicts the challenges faced by healthcare workers fighting to stop the spread of the Covid-19 pandemic.

Additionally, Ndlovu hopes his breakthrough into the NFT space will help “inspire many young creators to take a leap and test the market for themselves.” According to the artist, who also serves as an ambassador for SOS Children's Villages, NFTs represent an "alarmingly bright future" for African artists.

Artists are embracing NFTs

Meanwhile, with this pivot to NFTs, Ndlovu joins Nyasha Warambwa and Indigo Saint, the first Zimbabwean artists to embrace NFTs. Warambwa, also known as “Hulio”, allegedly announced via social media that its two NFTs were available for $1.55 were sold ETH (or over $5,700 at current prices).

Indigo Saint, on the other hand, is said to have sold its NFT within the first four hours of its IPO. The works were “sold at a price of 50 SOUL coin which was valued at $29 on that day.”

However, despite the three artists' positive statements about NFTs, some Zimbabweans on social media are raising concerns about a bubble. For example, a Zimbabwean social media user known as Link Marine noted: “[An] NFT crash is imminent… just a few months or even weeks.”

Do you see NFTs as a bubble? You can share your views in the comment section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons