The Value of Kids NFT Art
We have seen in previous blogs that many kids nowadays are monetising their creative and artistic abilities through sale of their NFT (Non-Fungible Token) artworks online. The evolution of a range of modern technologies such as blockchain, cryptocurrencies, decentralised finance (DeFi), smart contracts, and virtual worlds within the last five years, has now clearly ushered in a new digital online culture. As a result, kids NFT art is certainly giving new meaning to art and value.
The question of the value of kids NFT art is therefore a core question which must invariably be addressed. Is kids NFT art valuable, and if so, does this represent long-term value or rather simply fleeting ‘NFT bubble value’? At present, it is not easy to answer either of these questions with a sufficient degree of certainty. The reason is that the evolution of the kids NFT art market is still in a state of flux, as it is barely a few years old. However, the general indications are that it is here to stay long-term.
Nonetheless, the valuation of kids NFT art is likely to shift considerably over the coming years. Let us explore why. To begin with, there are approximately 2.2 billion children currently on the planet, yet, in reality, only a handful of these are actually creating and minting NFT artworks on a regular and consistent basis. It can be argued that the ultimate value of kids NFT art currently derives in large part to the recognition and notoriety attributed to them through the media, online platforms, and social media channels.
Without prolonged and widespread social marketing and promotion, FEWOCiOUS, otherwise known as 18 year old NFT artist ‘Jaiden Stipp’, or other kids NFT artists such as Teresa Melvin, Nyla Hayes, or Laya Mathikshara, would have arguably still remained unknown kids artists. By constantly promoting and marketing their work online via social media channels, online platforms, and the media, kids NFT artists can build their social network, recognition, and notoriety over time. This can help to provide them with both acknowledgement from the NFT art world, and a way to differentiate themselves from others.
This is absolutely crucial, because as more and more kids NFT artists begin to showcase their NFT artworks online, the kids NFT art market is likely to become flooded over time. This proliferation of kids NFT art in the coming years will very likely dilute the value of kids NFT art in general. In addition, it will also likely make it much more difficult for kids NFT artists to differentiate themselves and their artworks, and to make a name for themselves online (in much the same way as has previously occurred for adult artists in the traditional art world). This may potentially shift, or rather increase, the value of those kids NFT artists that can differentiate themselves and their NFT artworks.
Consequently. at present, the likelihood is that kids NFT art may represent both long-term value and NFT bubble value. The long-term value reflects those kids NFT artists that manage to build their artistic reputation and value in the long-term. The NFT bubble value will likely arise because of many new kids NFT artists that will continue to arise in the next few years, and that may eclipse existing and current kids NFT artists. If this occurs, and this is highly likely, then some kids NFT artworks will likely lose their value over time owing to a dilution effect within the evolving niche kids NFT art market worldwide.