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Meet MNFTM, the NFT Marketplace for Black and Ethnically Diverse Creators

Published January 26, 2023
Published January 26, 2023
Senivpetro via Freepik

Several brands and technology companies have pushed the narrative that the metaverse was created to be inclusive and allow users to present themselves however they desire. Despite this, ongoing debates have occurred, with 60% of consumers feeling there is an apparent lack of diversity within Web3 spaces. The root of the problem goes as deep as the recruitment process, with 65% believing the hiring procedures in tech companies are racially biased.

In 2014, with Black employees accounting for only 1% of the workforce at the time, Meta pledged to diversify itself. In 2022, reports confirmed that this number had only increased to 3.1%, confirming that although minor progress has been made, there is still a long way to go in terms of inclusion. Hoping to pave the way for genuine diversity within technology and the metaverse, entrepreneur, founder, and CEO Ed Ukaonu has launched MNFTM, "The world's first NFT marketplace and platform for Black and ethnically diverse creators and collectors globally."

MNFTM was created with a vision to "thrive in diversity and bring light to creators from all backgrounds." The platform allows for strong user interaction, providing a range of offerings such as marketing curation and portfolio tracking for artists. Mentoring and guidance are also available to creators and consumers alike, helping to educate them on the most effective ways to buy and sell within the metaverse. A particular highlight of this process is the option for artists to receive pricing recommendations for their NFTs―a much-needed tool after several darker-skinned female avatars, characters, and NFTs have been known to be priced down because they were perceived as being "less desirable."

Commenting on the inspiration behind the platform's creation, Ukaonu states, "We sought to create an NFT marketplace and community that enables Black and ethnically diverse creators globally to participate and thrive in this new digital economy. To showcase their exceptional masterpieces to the world by empowering and positioning them with the right tools in this new digital economy, Web 3.0."

MNFTM also has plans to create a virtual amphitheater and art gallery on the metaverse e-commerce platform Comearth. Events that offer collectors special experiences such as exclusive art showings can be visited within these spaces. According to MNFTM, this collaboration aims to "secure retention on both ends by providing a comprehensive and personalized experience for both artists and collectors." Special pricing and exclusive drops―as well as passes to exclusive events in both the metaverse and in real life―will be offered to high-end collectors.

MNTM also intends to bring NFT creators and collectors together by allowing them to interact, regardless of their physical location, which makes consultations significantly easier. This element was added to make purchasing NFTs an "intrinsically personal experience" for consumers. It also assured that their purchases were credited to the correct artist and not fraudulently acquired, monetized, reproduced, or disseminated.

While the initial focus of MNFTM is centered around art, music, videos, and collectibles, the platform’s influence has the potential to extend to the virtual beauty space. The start-up will help those from minority backgrounds feel accepted in the metaverse and provide them a real opportunity to express themselves in Web3 environments. The space will also give brands the opportunity to connect with artists creating characters and NFTs that accurately represent their communities, which means detailed depictions of Black beauty should become more prevalent in the metaverse. Through the creation of such a platform―as well as diverse NFTs displayed in its virtual art galleries and theaters―one can only hope for a decrease in the racially motivated pricing gap of NFT purchases. Until then, it is important that consumers and brands alike utilize platforms such as MNFTM to highlight the beauty of all races, whether in a virtual space or in real life.


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