Fireside Chat | The Global NFT Space with Visithra Manikam | 10 May 2022

Non-fungible tokens are cryptographic assets which are created on distributed databases called “blockchains” that are also used for cryptocurrency systems such as Bitcoin. Unlike fungible assets like cryptocurrencies, however, NFTs have unique identification codes and metadata that allows each token to be unique and impossible to replicate. Unlike mainstream conception that all NFTs are digital, they can also be used to represent real items including artwork and real estate.

The first ever NFT, Quantum, was created back in 2014 however it was not until 2021 that NFTs really began to uptrend due to the Bitcoin and Ethereum (ETH) bull run as well as the uptake of NFTs by famous personalities all around the world. This consequently led to a 38,000% year-over-year increase in NFT sales and increased the value of the NFT marketplace to almost US$41 billion; almost at par with the US$50 billion procured by the conventional art and antique sales of 2020. Commonwealth nations are amongst the biggest adopters of NFTs. In Nigeria, 13.7% of the population, predominantly millennials, own NFTs and this number is expected to rise by 21.7%, the biggest growth ever to be recorded, to 35.3%. Malaysia is amongst the most prominent Asian markets for NFTs, currently ranking as the 3rd largest in terms of NFT owners, pegged at a current 24$ of the population. Malaysia is also the home country of one of the pioneer NFT artist, Pak, whose NFT “The Merge” is the highest valued piece in the world which was sold for US$91.8 million and involved the contributions of 30,000 collectors.

In this online fireside chat event, the Commonwealth Chamber of Commerce invited Malaysian digital artist, Visithra Manikam, to share her journey of discovering the global NFT community amidst COVID-19 and how it led to her becoming the best-selling Malaysian digital artist on the OpenSea platform as well having her Medici Collection being bought by Snoop Dogg. Watch this recording of the webinar to know all about Visithra’s journey and the global NFT space.

#OpenSea #NFTCommunity #DigitalArt

Timecodes:
00:00 Julia Charlton's welcome speech
2:23 Visithra Manikamq about her art and NFT
11:21 Visithra Manikamq about her NFT journey
16:14 Visithra Manikamq about being an active member of an NFT community
18:56 What is NFT?
30:34 How to keep NFT safe?
35:42 What is the process of changing from physical painting to NFT?
45:38 How NFT community is policed?
48:44 Q&A session
57:33 Julia Charlton's closing speech

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