A Kenya-based digital media company, Picha Images, is reportedly set to hold one of the first non-fungible token (NFT) auctions in Africa. The auction event, which is set to be held between April 26 through May 3, 2021, will initially feature the works of Rich Allela, the award-winning photographer and filmmaker from Kenya.
Perpetual Royalties
According to a report, in return for purchasing the NFTs, the buyers will get a “hacker-resistant proof of ownership of a digital piece of art.” Inversely, the NFTs give artists, who have been getting “a raw deal,” a chance to earn more.
Meanwhile, in its own statement, Picha Images claims the creation of NFTs shows that the company is “placing the wellbeing of their creative artists first by exposing them to a way to secure their work, maintain the copyrights to their creations and earn royalties in perpetuity.”
NFTs Empower Artists
On the other hand, Allela is quoted commending Picha Images, which harnesses artificial intell
