Blockchain hasn’t just redefined art, it’s also helped artists find new buyers without going through traditional gatekeepers of the art world
When visual artist Vimal Chandran wanted to create this latest high-tech thing called crypto art, he drew inspiration from an unlikely quarter: the traditional procession of decorated wooden horses during temple festivals in his hometown of Palakkad in Kerala. Chandran’s animated NFT shows a young boy on a tricycle gazing in wonder at two large and otherworldly wooden horses with glittering lights.
NFTs or non-fungible tokens are digital assets including art, music, video and even memes that are encoded on a blockchain. These are sold in cryptocurrency. There has been quite a buzz around them after a record-breaking $69 million purchase by Singapore-based Indian entrepreneur Vignesh Sundaresan in March. Now, India too is jumping on the NFT bandwagon.