nftRacism in NFT Space exists and so the NFT Space Needs to Do More to Uplift Black Artists.

It's no secret that Racism in NFT Space exists and white guys dominate crypto circles; after all, the "crypto bro" caricature has existed for decades. Men hold upwards of 70% of the world's cryptocurrency accounts by 2022, with white men accounting for 62 percent of that total. Given that the NFT ecosystem was born in the crypto sphere, it's easy to see how this demography has migrated to our new blockchain-based creative economy. These systemic concerns with representation in the NFT community. It is discovered that there weren't any high-profile NFT projects that were led by Black NFT artists and focused completely on Black voices or Black crypto art.

But it's not only about a lack of representation, we've witnessed widespread Racism in NFT Space, prejudice, and discrimination in the crypto sphere. While Web3 may offer a solution to centralization's fundamental technical and censorship-related problems, the spread of Racism in NFT Space across social media has only grown a thorn in the digital era's side.

In the NFT space, there is diversity. There are numerous creators and innovators of color in the community. That is true. But why aren't there more non-white people in the ecosystem's top tier? Why are Black NFT artists and builders still underrepresented on lists of "top persons in NFTs"? What can we all do to guarantee that Black creators and other people of color are more represented in the NFT space?

A top-down strategy 

Even though the NFT ecosystem is a melting pot of art, technology, and culture, the racism that existed in Web2 has not been eradicated in this version of blockchain technology. Society, particularly as a microcosm of the internet (i.e. the NFT area), will not alter overnight.

In the NFT space, intentionality is crucial when it comes to approaching diversity. The topic of including, empowering, and celebrating Black NFT artists in Web3 should be discussed frequently. To modify the community's attitude toward racial issues and establish the tone for frank dialogue, action rather than reaction is required.

Of course, simply discussing the difficulties isn't enough. To become the norm, the exploration of actionable measures to empower POC in NFT must also be promoted. Black people, as multidisciplinary need more leadership opportunities.

A lot of people believe that paying [Black NFT artists] is the solution. Right? 'If you want to support them, pay them, you'll hear a lot of people say but they truly need opportunities to lead. Stop promoting them to the community manager. Give them a marketing role if you think they are so brilliant at connecting people. Make up a character for them if you believe they are so good and skillful and anything. So, yes, please pay them. But, more significantly, improve our standing.

Performing due diligence 

Throughout the NFT sector, there are entire ecosystems of POC artists. The reality is that they exist, but they are underexposed and underfunded at times. Abieyuwa, a multi-faceted artist and the African NFT head of community, has firsthand knowledge of how tough it is to break into the Racism in the NFT Space as an artist. She's embarked on a mission to uplift other artists by curating and staging Paradise, the African NFT Community's first-ever exhibition, in a way that simultaneously spotlights Black women in the space and allows collectors to purchase their work. Getting awareness for many Black artists in the NFT community requires aggressive steps like Paradise to genuinely drive the conversation and deliver art to potential collectors. 

Invest in underrepresented artists. 

We've learned over the last year that while art certainly drives the NFT market, artists do not. Even today lead artist struggles to gain adequate attention for their work. Where does this leave independent artists if the artist behind one of the most popular NFT projects of all time is denied credit? Especially those who were already underrepresented before venturing into the strange wide world of NFTs.

Invest in underrepresented artists. It's more crucial than ever to support these artists and put your money where your mouth is. Buy work by black NFT artists and support ventures by black creators, even if they aren't going to triple in value overnight. Knowing that you might not get the same return on investment as you would in another initiative is part of the process of supporting. But it is the price you pay to support these organizations. If you sincerely want to help, you must be willing to make some form of sacrifice.

A lot of people are having quite varied experiences based on who they know, who's in their network or circle, and what sort of information opportunities they have access to. So, while some are enthusiastic and optimistic about [NFT] technology and its ability to address a variety of challenges and give opportunities to people, some believe that the space itself still reflects everyday society. Which is to say, if you have a lot of money and certain advantages, such as being male, white, and upper-class, your chances of success are much better.