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How NFTs Are Creating an Impact on Philippine Art and Entertainment

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NFTs, or non-fungible tokens, have experienced a meteoric rise in popularity in the past few months. Being non-fungible means tokens are all unique and can’t be replaced with anything else (unlike a bitcoin, which can be replaced by another unit of bitcoin), making it perfect for trading cards, rare collectibles, works of art, and more.

 

Artists like Beeple have even successfully sold an NFT of his work for a whopping US$69 million through auction house Christie’s. The meteoric rise of NFTs has resulted in a frenzy of celebrities worldwide like rap legend Snoop Dogg and tennis star Serena Williams promoting their own NFT collections, while a vibrant NFT gaming industry seems to have popped up overnight.

 

Naturally, NFTs have begun to make their impact felt in the Philippines. More Filipino artists are creating NFTs and many of our favorite teleserye stars are starting their own NFT collections.

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Below is a look at how NFTs are making their impact felt among Filipinos.

Filipinos also love NFT art

As shown by digital artist Beeple’s NFT art collection commanding an impressive auction price, NFTs are a new way for today’s artists to make a living off of their art. Artists everywhere are selling off their tokenized pieces to a market of collectors eager to own a unique piece of art.

 

Filipino artists are no exception. Collectives like the Crypto Pop Art Guild have cropped up to help underprivileged Filipino artists take advantage of opportunities in the NFT market, with the result being that some members now earn $400 (P20,000) per month from NFT art.

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The Narra Art Gallery has even introduced NFTs to famed events like Art Fair Philippines. The gallery is accessible via web browser, with five different “floors” showcasing NFTs made by Filipino artists. Not only is the gallery crucial for bringing opportunities in the metaverse closer to Filipino artists, but it’s also a new way to truly appreciate art.

How NFTs Are Creating an Impact on Philippine Art and Entertainment

NFTs made their way into Filipino entertainment

 

Even Filipino celebrities are getting in on the NFT boom. Actress-singer Nadine Lustre released 1,000 editions of her single “Wait For Me” as NFTs, with each on sale for $30.12 or roughly P1500. Actress/philanthropist Heart Evangelista also sold some of her paintings as NFTs on NFT marketplace OpenSea.

 

Recently, digital entrepreneur Julius Santillan even launched the Vention app, an NFT marketplace run by Filipinos. So far, the marketplace has been promoted by big names in Filipino entertainment like Gloc-9 and Ivana Alawi. The celebrity endorsements show an increasing awareness about NFTs, by some of the country’s biggest influences.

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Of course, the Solana blockchain also hosts NFT marketplaces of its own. Platforms like Solsea, Solanart, and Magic Eden take advantage of Solana’s capability to handle large volumes of transactions and give artists and collectors a smooth, efficient experience when transacting. The presence of these platforms speaks to the demand for NFT art.

 

The above examples go on to show that underestimating the future of NFTs is a mistake. More than just being a novel, new type of digital asset, NFTs are showing that their unique properties (non-fungibility, backed by blockchain technology) have the potential to empower creators by giving them a better way to reach their audiences.

The development of things like the Solana blockchain and SOL will even help NFTs expand their reach and move towards mass adoption. With local crypto exchanges like PDAX offering the budding SOL coin on its platform and offering an easy way to cash out from NFT games, Filipinos will even have an uncomplicated and effortless way to cash in on the Solana blockchain’s potential growth. PDAX, for example, allows people to trade coins like SOL to Philippine pesos in just a matter of minutes, then cash out through a variety of online banking, e-wallet, and over-the-counter methods. With the PDAX app easily downloadable through the Apple App Store and Google Play, trading SOL is literally just a few clicks away.  Thus, more than just celebrities and artists, both NFTs and SOL are more accessible than ever to ordinary Filipinos.

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Both NFTs and adjacent developments like the Solana blockchain have already made their mark and are clearly here to stay. Anticipating the further impact they’ll make isn’t just exciting, but it’s also a must for anyone looking forward to the future.

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NFT

TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines

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BitPinas, a local crypto news publication, and TZ APAC, the leading adoption entity for the Tezos ecosystem in Asia, successfully organized #tezmasPH, the first ever NFT-minting contest in the Philippines. Twenty five Filipino artists submitted their entries all depicting how Filipinos celebrate its longest holiday – the Christmas season. BitPinas and TZ APAC, together with visual artist Jopet Arias and community partners Crypto Art Philippines and NFT Philippines, are thrilled to announce the winners of this inaugural NFT competition:
 TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
The NFT will remain on the showcase page of #tezmasPH and the organizers will never sell or burn them. Visit the virtual gallery here: https://oncyber.io/exhibits/LtZPWfHnWJ67gxWQBnvi
Prior to submitting their work, the artists are asked to create multiple editions so they can immediately sell their artwork while waiting for the announcement of the contest winners.
“Aside from what’s possibly the first ever NFT minting contest in the Philippines, it’s one of those rare art competitions where the artists are allowed to sell their work immediately. I have experienced joining art competitions where we are only allowed to sell our work after the winners are announced, but the value of the art have become lower particularly for those that did not win the competition,” says visual artist Jopet Arias, who helped in organizing #tezmasPH.
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
Winners of the #tezmasPH contest were decided by four distinguished judges known for their work in the local and international art and literary community.
  • AJ Dimarucot – Renowned graphic designer, art director, and entrepreneur. AJ designed for global brands like Nike, Jordan Brand, the NBA, Adobe, among others. He collaborated with global icon and philanthropist Apl.de.ap for his first ever NFT.
  • Jowee Alviar – Renowned graphic designer, educator and co-founder of Team Manila Graphic Design Studio and Team Manila Lifestyle
  • David Tng – Art collector, entrepreneur, and Head of Growth at TZAPAC
  • Yvette Tan – The most celebrated horror writer in the Philippines, Yvette is recipient of several awards, including the Don Carlos Palanca Memorial Awards for Literature.
“Filipinos have always been proud of their creativity, and this is one more way for artists to offer the world a glimpse of the visions inside their heads. The entries run from sentimental to delightfully surprising, all of them revealing different aspects of the Filipino Christmas,” says Yvette Tan, celebrated literary writer and author of “Walking the Dead and Other Horror Stories” and “The Last Moon,” the first storybook NFT project that was released at the 500-year-old Frankfurt Book Fair last October.
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
“While the contest asked the participants to showcase how Fiipinos celebrate the holidays through familiar local imagery of the Simbang Gabi (evening mass) and parols (Christmas lanterns), most, if not all, of the entries managed to capture Christmas in the context of the current situation in the Philippines, which had the strictest and the longest lockdown compared to other countries,” says Michael Mislos, managing editor of BitPinas.com, the Philippine-focused crypto news publication.
“Still, Filipinos are known around the world for their legendary resiliency and their ability to smile even in the face of sometimes insurmountable uncertainties. I’m impressed with the quality and the level of imagination of the artists who took part in the #tezmasPH competition and their depiction of how Christmas is celebrated by Filipinos today,” Mislos added.
“I hope this competition becomes an eye-opener particularly to the participants and the wider art community on the opportunities that NFT brings to artists around the world,” says Arias, referring to non-fungible tokens, which are unique digital items secured by blockchain technology and can be in the form of digital art, music, or even collectibles. Basically anything that can be stored digitally can be made into NFTs, allowing the creators to prove they created the digital item, and the owners to prove that what they own is unique and authentic. NFTs’ popularity went fever pitch when the digital artist Beeple sold “Everydays: The First 5,000 Days,” a collection of all of his work up to that point in his career, at Christie’s, the legendary auction house in New York, for $69 million.
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
Jowee Alviar, creative director and co-founder of Team Manila Graphic Design Studio, says there are practical reasons for artists and designers to be in the NFT space. “Many creatives lost their source of income last year because of the pandemic. Many artists are finding new collectors of their work through the NFT marketplace and community. In turn, they have offset their losses from last year and are now earning from selling NFT art. We hope this success multiplies in the coming months,” Alviar said in an interview with BitPinas crypto news publication.
#tezmasPH: Pinoy Christmas-themed NFT minting contest encouraged artists to mint their NFTs on any Tezos-powered NFT marketplace such as Hic et Nunc and Objkt.com. Because Tezos is a proof-of-stake blockchain, it uses two million times less energy to operate than proof-of-work blockchains. This allows for drastically less fees when artists mint their work. TZ APAC shouldered the fees for artists who didn’t have the funds to participate in the competition, allowing especially new artists to effectively begin their NFT journey.
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
“Even before NFTs, it has been a lifelong dedication of mine to help Filipino creatives monetize their talents and work with clients abroad. NFTs have added a new opportunity to monetize their talents directly through digital assets,” says AJ Dimarucot, renowned graphic designer and manager of the First Mint Fund, which also helps artists get onboarded to NFT by shouldering their first fees. I am glad to have discovered new artists through the #tezmasPH competition, and I’m confident that each new artist we onboard is another artist that will onboard other artists to NFTs,” Dimarucot said.
Tezos-powered NFT marketplaces are unique because the cheap gas fees allow users to experiment on their work. And this experimentation is visible in the #tezmasPH entries.
“The artists’ submitted entries are all on brand with the kind of work found on Tezos NFT marketplaces like Hicetnunc and never found anywhere else,” says Team Manila’s Jowee Alviar, referring to how NFT platforms on the Tezos blockchain show high levels of experimentation and a breadth of creativity from many artists not often found on other NFT platforms. “I am glad to be part of a competition that represents the best works and designs inspired by Philippine culture and showcase them to the global NFT community.”
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
“If anything, the competition has sparked interest for more local creatives to become aware of NFTs and the lucrative opportunity that is open for everybody. All they need to do is take that first step and try it,” Alviar added.
“Minting NFTs on the Tezos blockchain typically cost less than 10 cents, making it a highly economical way for artists to experiment on the blockchain. Artists are able to mint a wider variety of works, experiment with prices and number of editions, so they can find the right formula that works for them. This is especially important for budding artists as it can provide a form of financial opportunity and support that may help them overcome any financial pressures they face,” says David Tng, Head of Growth at TZ APAC and one of the judges for the event.
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
#tezmasPH is one of the first activities of TZAPAC in its commitment to increase Tezos adoption in the Philippines.
“I am personally impressed with the level of talent of the Filipino artists minting their work on Tezos-powered NFT marketplaces,” says Katherine Ng, Head of Marketing at TZ APAC. “#tezmasPH is just the first step as we further commit to help grow the Tezos community in the Philippines through a combination of a hyperlocal approach and stakeholder collaboration. We will continue to support the growing number of Tezos Filipino artists and will soon hold dialogue with the developer community as well.”
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
About BitPinas
The paper of record chronicling the crypto movement in the Philippines, BitPinas started in 2017 to help spread correct information about crypto, DeFi, play-to-earn, and NFTs in the country. Find us www.bitpinas.com and www.fb.com/BitPinas.
About TZ APAC
 
TZ APAC is one of the leading adoption entities in Asia, designing blockchain strategies for enterprises and creators by working closely with experts and stakeholders in the Tezos ecosystem. www.tzapac.com
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
About Tezos
 
Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today. For more information, please visit www.tezos.com.
About JopΞtH Arias
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
Artist, forerunner, and digital nomad, JopΞtH is one of the earliest crypto artists and is the co-founder of the Crypto Art Philippines Discord Group. https://twitter.com/AriasJopet
About Crypto Art PH Group
Crypto Art PH is a community of artists and collectors dedicated to promoting awareness and education about NFT art in the country. https://twitter.com/cryptoartph
TZ APAC and BitPinas Successfully Organize First NFT-Minting Contest in the Philippines
About NFT Philippines Group
The official Filipino NFT community, the group is a hub for all things NFT and aims to promote local projects to the world. https://twitter.com/PhilippinesNFT
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