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Angela Sibanda, Showbiz Reporter

The National Gallery of Zimbabwe in Bulawayo will today host another episode of Bulawayo conversations with the agenda being the discussion of Non-Fungible Tokens (NFTs).

The conversation will be led by a Saudi Arabia-based economist Godfrey Dube, who is popularly known for his strong interest and experience in issues to do with the power of technology in economically empowering the arts sector.

NFTs are defined as digital assets that represent real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency and they are generally encoded with the same underlying software as many cryptos. Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.

Silenkosi Moyo, the regional director of the National Gallery of Zimbabwe in Bulawayo said the NFTs conversation which is open to all artists, seeks to empower the creative sector and economically empower local artists.

“The Bulawayo Conversations are a platform to accelerate the adoption of new technologies and digital platforms to support innovation in the creative sector as enshrined in the National Cultural and Creative Industries strategy 2020 to 2030. The talk will address what NFTs are, how and why they work, and how the local visual art community can leverage the technology.

“Such programmes empower artists with the knowledge and skills to contribute to the development of sustainable creative economies as stated in the NDS1. It’s a must-attend event for artists to build digital resilience and the ability to monetise their art,” Moyo said.

She said the conversation is a free event, open to all who have an interest in learning and sharing knowledge on the technology.

“We’re living in a digital age where art and technology constantly overlap so it’s crucial for the local art industry to not only understand how the innovations in technology are impacting the art world, but also to find our own place in it. The way art is viewed, shared, consumed, and subsequently sold is constantly transforming and will continue to do so in the years to come. We must not be left behind,” Moyo said.

Commenting on the importance of knowledge of NFTs prior to the event, Godfrey Dube said new technologies and the internet have helped artists to market and sell their art around the world and the programme will empower them more on how best they can monetise their craft.

“It’s the idea that how we live, work and play is undergoing a radical change. The internet as we know it is ceasing to be something that is owned by corporations and devolving into a technology for the people by the people. NFTs are part of that decentralisation and empowerment of artists.

“For the first time, artists are now able to curate and share their art with the world thereby expanding their reach and creating royalties and residual value through the MetaVerse, blockchain, and smart contracts. This is the precursor to, I believe, the greatest wealth transfer ever,” said Dube.”

The NGZ in Bulawayo hosts these conversations monthly to give artists a platform for critical discourse and analysis of issues relating to or about art, artists, and the gallery. They are aimed at generating and inspiring critical thinking and dialogue with all stakeholders of the arts industry.