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Africa's first NFT artist launches a social token
Osinachi is the first African NFT artist featured at Christie’s Europe. Christie’s is one of the oldest and most renowned auction houses founded in the UK in 1766. What is unique about Osinachi’s work is that he creates his art on Microsoft Word.
Microsoft word? Yes, this artist uses Word to create art. Christie’s will have a presence at an art fair with a booth showcasing Osinachi’s NFTs. Osinachi will also offer a token “OSINA” to reward visitors to the fair and encourage collectors to build a community. Visitors can receive tokens via a platform called Socialstack. The artist’s “Different Shades of Water” features five of the artists’ images in homage to the 1972 David Hockney painting “Pool with Two Figures.”
The OSINA tokens are used to buy the artist NFTs and merchandise. The funds received by the community will be used to
Support regenerative movements
Onboard African & indigenous creators
Allocate a minimum of 12.5% of Treasury inflow to charity
A portion of the proceeds from Christie’s will be donated to the African Culture fund.
“Nobody thought that NFTs could sell for so much until Beeple did it. My auction at Christie’s shows that African artists can excel in the space beyond platforms and go on to auction houses. The positive impact is something I love being a part of,” Osinachi said
Are Social Tokens a thing now? Multiple artists are creating tokens as a way to monetize their work and reward their supporters. Andrew Berkowitz, co-founder and CEO of Socialstack, describes it as “a new cryptocurrency asset class that came into existence over the past couple of years. It’s a cryptocurrency whose value is tied to the underlying brand or community that’s issuing the token, as opposed to other crypto assets where the value is derived from the underlying network itself.”