I watched young Thando’s eyes glaze over when she described the thrill of a virtual pair of Off-White Nikes in her closet. Thando, a bright, ambitious young woman I mentor here in Johannesburg, dreams of becoming a successful fashion designer. For her, NFT sneakers were an opportunity to join a world she thought was entirely inaccessible. The thrill didn’t last long for her. She soon understood that the price tag was more than monetary. It required considerable tech savvy. It hit me then: are we truly democratizing style, or just creating another exclusive club with a digital velvet rope?
Are We Really Leveling The Playing Field?
The narrative surrounding NFT sneakers is seductive. They claim it’s for the purpose of democratizing fashion. It’s about providing access to everyone, including future generations, so they can create and hold unique, verifiable digital assets and identities! Companies are clamoring to tell you about digital ownership and reimagining fashion. Let's be real for a second: How many Thandos are actually benefiting from this supposed revolution?
The reality is, the barrier to entry is quite literally mind-numbing. The NFT itself is no joke, either — it can totally cost you hundreds or thousands of dollars. That’s not the only variable at play. We're talking about the cost of the technology required to participate: a stable internet connection (a luxury for many), a crypto wallet, and the technical skills to navigate the often-complex world of blockchain.
And the world’s environmental consequences—don’t forget them! Climate change may not be explicitly called out in each post, but it remains a key ethical issue. High energy consumption for transaction. Can this really be our greatest pitch for democratization of the tools?
Sure, the concept of functional fashion — NFT sneakers granting in-game bonuses or world real-life rewards — is bold and promising. Who benefits most? The privileged few, those already plugged into the gaming world, those who already have access to these benefits. What about the young girl sitting in a remote town, without connectivity and hoping to have a different future? In other words, are we genuinely equipping them to succeed, or merely increasing the chasm?
| Barrier | Impact |
|---|---|
| High Cost | Excludes individuals with limited financial resources. |
| Tech Illiteracy | Prevents those without technical skills from participating. |
| Scams & Fraud | Exposes vulnerable individuals to financial risks. |
| Volatility | The value of NFTs can fluctuate wildly, making them a risky investment. |
| Environmental Cost | Contributes to environmental degradation due to the energy consumption of blockchain technology. |
Digital Divide or Digital Empowerment?
We should reconsider the prioritization of exclusive drops and celebrity collaborations in favor of efforts that truly uplift marginalized communities. Now picture those same programs offering free education on blockchain technology, digital literacy and other equity-centered innovations. Imagine intuitive NFT marketplaces, built from the ground up to be welcoming and easy-to-use for anyone. Imagine federal grant programs to help establish young entrepreneurs in the new digital fashion industry.
Adidas jumping on board with BAYC? Nike buying RTFKT? Great for their bottom line, sure. And what does that mean for the next generation of designers—we want to be their go-to resource. They don’t have access to venture capital or the established networks.
Just identifying the issues isn’t enough. To protect home rule, we have to be part of the solution. Here are a few actionable steps we can take:
Actionable Steps Towards True Democratization
NFT sneakers can have a positive impact. We need to work hard to ensure that they’re available to all, and not just the lucky, well-connected couple. Let’s not make this exciting technology yet another harbinger of inequality. Together, let’s make sure we’re creating a digital future where everyone has a seat at the table.
- Support organizations that are working to bridge the digital divide and provide access to technology and education for marginalized communities.
- Advocate for policies that promote financial literacy and protect consumers from scams and fraud in the NFT space.
- Demand transparency from brands and platforms regarding the environmental impact of NFTs and their efforts to mitigate it.
- Educate yourself and others about the risks and opportunities of NFTs, and be critical of the hype surrounding them.
- Invest in projects that are genuinely working to make the NFT space more inclusive and equitable.
The true potential of NFTs is their power to upend the established order. Disruption without intention leads to destruction. Let’s use that momentum to produce the most inclusive thing—truly inclusive—that we can. Let’s work together to uplift the next generation and make sure they’re not missing the boat. Let’s turn Thando’s dream into a reality, and not just a temporary moment of inspiration.
The power of NFTs lies in their ability to disrupt the status quo. But disruption without intention leads to destruction. Let’s use this power to build something truly inclusive, something that actually empowers the next generation, rather than leaving them further behind. Let's make Thando's dream a reality, not just a fleeting moment of hope.
