A number of Kenyans are joining the millennial billionaires in splashing their fortunes on digital art assets offered on blockchain-backed platforms. NFTs (Non-Fungible Tokens) are quickly becoming the most valuable digital art assets.
Kenyan artist and luxury leather bag designer Nthenya Mwendwa has also utilized the space and resorted to selling her digital works. Mistari, her Cardano NFT collection, was on show at Fibo, a Cardano NFT marketplace managed by Emurgo, a worldwide blockchain technology business.
The musician is one of a few Kenyans profiting off the global NFT craze, including world marathon record holder Eliud Kipchoge.
“My passion for telling stories about my beautiful heritage and showing that Africa can make luxury products that can compete on a global scale led me to tap into the NFT space,” said Nthenya.
“I wanted to share my stories and fashion in creative ways. And as an African designer who wants to share my African experience through my fashion, NFTs and soon the metaverse presents a unique and exciting way to let other people across the global experience the same and have ownership in that experience,” she said.
NFTs are non-replicable digital assets that are encoded on the blockchain and represent goods such as art, music, films, gaming items, and images.
Mistari’s Binti collection is made up of five different NFT artworks intended to represent the women who work in the value chain to manufacture her bags. It’s also a nice addition to the brand and the NFTs on the Fibo platform.
Each NFT will be unique, using fish leather, Maasai beading, or a combination of the two. She’ll also introduce one NFT at a time.
Artists and artists can use Cardano’s underlying digital currency, ADA, to transact their creative works on the public blockchain network.
Each NFT is being sold for 250ADA, which is equal to Sh30,897 as of Thursday’s exchange rate, but is subject to dollar currency valuation. The five will be sold for Sh154,485 each.
Nthenya is a member of Cardano NTFs fourth artist introduction cohort. The artwork is on show alongside NFT versions by artists from Australia, the United States, and India.
The collection, which is open to crypto aficionados all over the world, pays homage to her Kenyan heritage and the strong female lineage that distinguishes her artistic business, in which she has collaborated with women to produce the bags. The.Label.Saba’ is a leather bag designer brand she owns.
With an eye on the worldwide market, the bags are constructed from hair-on cowhide, Maasai beadwork, fish leather, and top grain leather.
The costs vary between $150 to $420. (Sh17,289 to Sh48,409).
She has been working in traditional bead-making with the Ushanga Association, which is operated by women from pastoral areas. She also works in a fish leather factory alongside women.
With the help of a graphic designer, the digital artwork has been in the works since December.
“I worked alongside a talented graphic designer to bring my vision for this collection to life. It has taken some time to get to this point but I am happy that we achieved the desired effect for the artwork, which I truly feel translates the brand’s message through the expression of my art,” she said.
To promote the expansion of her brand, she is now pursuing the NFT space.
“As the brand grows its presence in the real world, we want that the same growth is reflected in the NFT space and the metaverse,” she added.