By Luke - Crypto expert - 30-11-2021
Non-fungible tokens (NFTs) are crypto market investments in art form that have an inbuilt ownership protection. If you buy crypto-art works in an NFT marketplace, your NFTs will be unique and you would have exclusive ownership rights to that art piece. Most NFT platforms allow creators to sell crypto-art tokens to investors and continuously earn money each time their digital art gets sold. In recent news, Cuba is looking into utilising the NFT market to preserve and protect the legacy of their artists.
One particular artist that inspired the movement toward converting famous traditional art works into NFTs is Amelia Peláez Del Casal (1896-1968). Amelia was a modernist who painted moments inspired by Cuba’s history. Many fans of her work wished to turn her house into a historical art tour when she passed and use it to inspire and educate newer generations of artists in Cuba. However, when Amelia passed on, the Cuban government removed all of her artworks, and everything inside her home to sell them to institutions. Needless to say that the people of Cuba were not pleased about this.
Now, Amelia’s family and the Amelia Peláez Foundation are creating an NFT collection called AmeliasNFT in order to protect her legacy. The security and ownership protection that NFTs provides helps bring back the strength of Cuban artists. AmeliasNFTs will be selling crypto art pieces through a blind drop where each buyer can receive a random artwork. The blind drop will be available on December 8, 2021, at 6pm EST.