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NFT FAQ: Tips for NFT Artists to Avoid Exploitation

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NFT FAQ: Tips for NFT Artists to Avoid Exploitation Blockchain, News PlatoBlockchain Data Intelligence | Vertical Search AI
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By Nath Cajuday

NFTs Will Hurt Small—Time Artists if They will Allow Themselves to be Exploited; So, Know Your Worth – Laladraws

“Actually, mahuhurt lang yung small time artists if they allow themselves to be exploited. Parang, know your worth po. I think (in) NFT arts, ito na yung avenue natin na ‘di tayo naghahabol ng clients. Yung value ng art mo, ikaw magde-decide.”

(Actually, small-time artists can only get hurt if they allow themselves to be exploited. Like, you have to know your worth. I think in NFT arts, it is our avenue where we are finally not after the client. And you will be the one to decide about the value of your art.)

Thus stressed Lala, Lead Artist and Co-Founder of Planktoons when asked about her opinion about the idea that Non-Fungible Tokens (NFTs) hurt small-time artists during the BitPinas Webcast 11 – (Laladraws) Planktoons NFT and Bored Punks of Society last February 24, 2022.

Meanwhile, another guest artist, Melonbabe of Bored Punks of Society, admitted that NFTs hurt small-time artists only because others steal their work and upload it in the blockchain without their permission.

“For NFTs talaga, the purpose of our art is to have experience. I believe na it has different goals talaga. I think it may hurt, kasi ang daming taong interested sa NFT ngayon, pero I believe na kung saan ka dapat mag i-spend is sa kung ano talaga yung gusto mo and that’s where we can start helping the smaller artist out there,” Melonbabe added.

(For NFTs, the purpose of our art is to have experience. I believe that it has different goals. I think it may hurt because there are a lot of people interested in NFTs today, but I believe that you should spend on the things that you really want, and that’s where we can start helping the smaller artists out there.)

Agreeing to Melonbabe’s answer, Lala added that art theft is already happening even before NFTs exist.  

“You have to be careful po, hindi lang naman siya sa NFT nangyayari. And yun po, know your worth, ‘wag po kayong magpa-exploit please,” Lala added.

(You have to be careful; art theft does not only happen in NFT. Know your worth, do not let yourself be exploited, please.)

Furthermore, BitPinas Senior Editor and webcast host Michael Mislos concluded that along with the opportunities offered by NFT to the artists is the reminder to not be exploited.

“This is a new avenue to have a new kinds of collectors for their pieces but at the same time, you really have to know what you’re doing and you should never allow yourself to be exploited like what Lala and Alexis (Melonbabe) is saying,” Michael ended.

Earlier this year, Yield Guild Games country manager for the Philippines Luis Buenaventura II published an article debunking some of the myths and fallacies about NFTs.

Buenaventura explained the question “Does NFT Hurt Small Time Artists?” after a Twitter user reacted to one of his tweets, stating that NFTs hurt small-time artists.

He called this statement an “Appeal to Emotion,” or more specifically a “Galileo Argument.”

“*I* am a small-time artist. So is Caroline Dy. So is Jopeter Arias. So is Sevi Loves Art. So are most of the artists in #cryptoartph,” Luis explained, referring to many up and coming artists enjoying success in the NFT industry.

About three weeks ago, AJ Dimarucot of First Mint Fund, during the BitPinas Webcast 09, highlighted that NFTs do not hurt small-time artists, but actually help them. Read more about his statement here. 

BitPinas Webcast 11 – (Laladraws) Planktoons NFT and Bored Punks of Society , hosted by BitPinas’ Senior Editor Michael Mislos, and co-hosted by Chin Gandia, Associate Consultant of Emfarsis, together with Laladraw of Planktoons and Melon Babe and Jackygelo of BoredPunks of Society .

The BitPinas Webcast is a #CryptoPH Weekly Show. Click here to visit BitPinas Webcast Clips.

Watch BitPinas Webcasts every Thursday, at 5:00 pm, PH time.

This article is published on BitPinas: NFT FAQ: Tips for NFT Artists to Avoid Exploitation

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