Operated by a group of crypto natives and art lovers at global crypto asset manager Invictus Capital, the Invictus NFT Lab’s first project aims to demonstrate the potential for blockchain technology to bring tangible benefits to the real world — while remaining cognisant of the growing importance of the metaverse in our daily lives.
The Out of Africa collection, 118 professionally curated physical artworks from Southern Africa’s top artistic talent, offers benefits to artists and collectors alike.
Artists include Abongile Sidzumo, Olivié Keck, Blessing Ngobeni, Stanislaw Trzebinski, Janko de Beer, Musa N Nxumalo, Linda Chandia, Robert Slingsby and Diana Hyslop.
Auctions via OpenSea will take place over April, and will see artworks from prominent African artists across a range of artistic mediums sold.
For most participants, this is their first exposure to the new world of NFTs. The NFTs that are sold grant the holder the right (but not the obligation) to take delivery of the physical artwork, and can be resold via an NFT marketplace like OpenSea.
Why NFTs for physical art?
It’s clear that NFTs as an asset class will gain in importance over time, but few realize that the technology can benefit a myriad of real-world industries. Fine art, where middleman costs and geographical restrictions are prevalent, offers this technology an inroad into the real world.
Artists are able to more easily reach a global audience, while improved transparency offers massive benefits to both collectors and artists, helping to foster a vibrant global artistic community. The Out of Africa collection aims to demonstrate this conclusively.
Adding a digital element to a physical artwork also opens up a whole new realm for artistic exploration, and this has been embraced by artists in the collection, many of which have added animation to the NFT representations of their physical artworks.