John Lê’s passion for art may have been delayed, but it has certainly made up for lost time. As an Asian-American boy, creativity was not always encouraged, a fact that is understandable in retrospect,” he told Fortune. “However, I believe I had a talent for art that only emerged late due to a lack of support.”
Since then, he has made over $2.2 million by selling NFTs on the online platform Exchange.art. While he had his first experiences with design at the age of 16, this idea was put on hold when he took a job at a company. It wasn’t until he was 22 that he discovered his love for drawing. Working as an apprentice in textile printing in Los Angeles, he commuted from Orange County once a week.
“I fell in love with what I could say, what I could do, and the conversations that art allowed me to have with other people—and I’ve been chasing it ever since,” Lê told Fortune.
Another milestone in John Lê’s artistic journey was livestreaming his illustrations on the platform Twitch, at a time when non-gaming content was still rare. In 2019, after parting ways with Twitch, he had the opportunity to publish his comic “Giga” with Vault Comics. However, frustrated with the financial conditions in the comic book industry, he started exploring cryptocurrencies and NFT technology in 2021.
“By that time, I had already signed other comic projects with different publishers, and it was difficult because I love comics and the medium,” he said. “But the industry has primitive ideas about how to run a business.”
The discovery and use of smart contracts, which allow artists to not only earn income from the initial sale but also royalties from future transactions, literally changed Lê’s life.
“Accessibility for All”
In the same year Lê became interested in blockchain technology for his artworks, Exchange.art launched on the Solana platform. Larisa Barbu, co-founder of the digital art marketplace, recently assumed the position of CEO—becoming the first woman in that role.
Unlike other NFT markets that primarily serve traders, Exchange.art has sought to attract artists by offering features such as pre-releases, auctions, and the option for instant purchases. Artists can also produce “editions” of their works, creating multiple copies of a single image instead of individual editions of each piece. For example, instead of selling one artwork for $500, an artist can sell 10 editions at $50 each, making it more affordable for certain buyers.
This flexibility for artists and buyers has led to a significant increase in transactions in the fourth quarter of 2023, stated Barbu.
“Last year, we were in the depths of a bearish market, so buyers were less inclined to spend large amounts on individual works. They were more inclined to buy cheaper works, even if they were editions or non-unique images,” she added.
As Lê confirms, the smart contracts provided by Exchange.art make the entire process more sustainable.
“It’s really difficult to make a living in the traditional art market as it largely depends on acceptance by galleries, and there are very few galleries, and the process is very exclusive,” Barbu said in an interview with Fortune. “We make art sales accessible for artists.”
FAQ
What is Exchange.art?
Exchange.art is a digital art marketplace that operates on the Solana platform. Unlike other NFT markets, it aims to attract artists by offering features such as pre-releases, auctions, and the ability to create editions of their artworks.
How has John Lê found success on Exchange.art?
John Lê has earned over $2.2 million by selling NFTs on Exchange.art. The use of smart contracts allows him to receive royalties from future transactions, providing a sustainable source of income.
Why did John Lê turn to NFTs and cryptocurrency?
John Lê became frustrated with the financial conditions in the comic book industry, leading him to explore alternative avenues. He found the potential of NFTs and smart contracts to be more favorable for artists, offering greater control and financial opportunities.
What makes Exchange.art different from other NFT marketplaces?
Exchange.art seeks to cater to artists by providing features that make art sales more accessible. This includes options for instant purchases, auctions, and the ability to create editions of artworks, making them more affordable for certain buyers.
How has Larisa Barbu contributed to Exchange.art?
Larisa Barbu, the co-founder of Exchange.art, recently took on the role of CEO, becoming the first woman in that position. With her leadership, Exchange.art aims to revolutionize the art market by prioritizing artists’ accessibility and financial success.
Sources:
The source of the article is from the blog maestropasta.cz