Why NFT Profile Pics Appeal to Collectors and Artists Alike
Larry is in the top 1% of collectors on OpenSea, and his wallet holds Apes (Bored and Mutant), as well as many lesser-known projects, with a total value of around $1 million. Larry’s entry to the NFT market in February 2021 was born out of a deliberate rejection of the traditional art world. “For someone with limited social or financial capital, it can be quite difficult to develop a strong art collection,” he said. “It can be snobby, and collectors can feel belittled or made to feel inadequate—I know this from experience.”
NFTs, their evangelists suggest, offer a more open, level playing field. As Larry explained, if you can get in early on a successful project, you stand a chance of purchasing a valuable work at a low price. Trade that work or use it to mint derivative pieces, and you have the beginnings of an enviable collection. There’s no gallerist to vet your credentials—in fact, all the credentials that matter are visible on the blockchain.
Larry is baffled by the backlash against NFTs. “It’s quite comical, actually,” he said. He expresses real love for the works he owns and the people he’s met since acquiring them. For him, it’s a version of the art world anyone can join. It’s international (many releases now occur to accommodate Asian collectors) and inclusive. What’s not to like about that?
