Anthony Azekwoh’s Journey in the NFT Art Scene
Anthony Azekwoh emerged as a prominent figure during the NFT art explosion of 2021, gaining recognition as a young Nigerian creator whose Afrofuturistic artwork resonated globally, leading to impressive sales figures. However, as the NFT market experienced a downturn, Azekwoh faced a harsh reality check regarding the intersection of art, business, and sustainable practices within the creative economy. This narrative chronicles his rapid rise, subsequent challenges, and his determined efforts to rebuild his artistic career. Now at the age of 25, Azekwoh has expanded his focus beyond digital art, aiming to establish a comprehensive creative ecosystem rooted in vision, resilience, and a commitment to leaving a lasting legacy.
The Ascent
In November 2021, I felt as though I had finally made it. I had just released The Deathless series on SuperRare, where my digital artwork “Red Man” fetched an impressive $25,000 at auction, and the entire series generated over $50,000. My art was resonating with audiences worldwide through NFTs, allowing me to express African narratives in a bold and spiritual manner. This wasn’t my first experience with audience engagement, but NFTs brought a new level of global appreciation and validation. However, this success was just one facet of my journey. Prior to NFTs, I was a 16-year-old aspiring poet sharing my work on Twitter. A laptop failure forced me to switch to sketching on paper, leading me to discover my talent for drawing. I began sharing those drawings online, which fueled my passion for digital art. After receiving a commission from an American musician for $50, I purchased my first graphics tablet, marking the beginning of my artistic journey.
I continued to refine my craft, and in June 2020, I created “The Red Man,” which significantly shifted my trajectory. Until then, I had been trying to imitate the styles of artists I admired, but this piece was a true reflection of my unique vision—bold and distinct. The response was overwhelming, with demand for physical prints surging through social media. My initial sales brought in my first million naira, approximately $3,000, and my success in art transformed into a viable income stream. However, the influx of orders exposed my lack of preparation; I had no website or shipping framework in place. I was compelled to learn about production, packaging, and customer service quickly, adapting to the challenges posed by crumpled prints and refund requests. This experience ultimately led to the establishment of Anthony Azekwoh Studios, marking my first steps toward independence.
After the success of “The Red Man,” I entered a creative lull. I mistakenly believed that replicating my previous success would be straightforward, but I struggled to reach that level of acclaim again. Repeated attempts to recreate the same magic fell flat. Eventually, I decided to abandon the pressure of expectations and return to my original artistic instincts. Inspired by the story of Yasuke, the African samurai, I created a piece depicting him in September 2020 without the burden of overthinking or expectations. The piece resonated with audiences, leading to another wave of successful print sales. This experience taught me that the key to success lies in authenticity and staying true to one’s artistic vision.
As 2020 drew to a close, a suggestion from a Twitter user led me to explore selling my art as NFTs. Despite my initial lack of understanding regarding digital ownership, I was intrigued and decided to venture into the NFT space. My existing momentum on Twitter and the burgeoning NFT market felt like a natural fit. In November 2021, I launched into NFTs with the Deathless series, where “Red Man” sold for 5.5 ETH ($25,000), achieving the highest bid in a collection of ten artworks. My art was distinctive, unapologetically African, and showcased a representation of Blackness that was rare in the digital art scene. NFTs provided a way for collectors to own digital art akin to physical paintings, eliminating shipping hassles while ensuring ownership verification via blockchain technology. Between 2021 and 2022, I secured over $80,000 in NFT sales and built a small support team to manage administrative tasks. However, I soon felt stagnant in a fast-paced environment, which prompted me to reassess my creative direction.
The Downturn
In November 2022, my world began to unravel. The broader cryptocurrency market experienced a significant downturn, impacting the NFT sector as well. Most NFTs were traded using Ethereum, and as its value plummeted, so did the market for digital art. The collectors who once eagerly purchased my work seemed to vanish overnight, leaving artists like me, who relied heavily on NFTs for income, in a precarious position. The excitement and financial momentum dissipated almost instantly. Fortunately, I had already begun to diversify my focus by exploring sculpture, investing my energy and resources into a tangible art form that could withstand market fluctuations. I began working with obsidian marble—an exquisite and costly medium—and as commissions flowed in, I committed further to this new path.
Throughout 2023, I continued experimenting with sculpture, pouring my creativity into each piece. However, the transition came with its own set of challenges, including high material costs and complex shipping logistics, particularly with fragile marble. A shipment mishap resulted in broken pieces and delayed deliveries, forcing me to issue refunds to clients, which severely impacted my finances. As my account dwindled to zero, I found myself in a humbling position. The mounting customs fees and soaring shipping costs left me financially strained as I struggled to maintain my studio. My passion for experimentation nearly led to my downfall, and by early 2024, I was $20,000 in debt. This situation was particularly difficult because it affected not only me but also my team—contractors and collaborators who depended on my vision. I had to confront this reality, and there were days when I merely hoped to break even, as being in the negative tested my resilience.
The Turning Point
For the first time in years, it felt like everything was collapsing. I fell into a deep slump, but my team rallied alongside me, working diligently to find solutions. Together, we began to establish a structured approach to our creative endeavors. I realized that my failures were not necessarily due to the quality of my work, but rather a lack of robust business systems and financial oversight. This realization prompted a rebuilding phase. Throughout this challenging period, my passion for creating remained intact. I understood that I couldn’t afford to halt my artistic output; too much was at stake, and many people were counting on me.
I began cultivating stronger relationships with clients and focused on the business aspects of my work. This was a crucial moment that required me to actively manage finances, budget effectively, and collaborate with my business manager to stabilize operations. I maximized every potential income stream as an artist—selling prints and NFTs, directing visual projects, and organizing exhibitions. My team took charge of administrative tasks, allowing me to concentrate on my creative process. Kiitan, my business manager, ensured the integrity of contracts and cash flow, while Fego, our product lead, coordinated various projects. My sister, now my Executive Assistant, organized schedules and communications to streamline operations. Through our concerted efforts, we secured over $10,000 in brand licensing deals and my sculpture exhibition in May 2024 generated nearly $30,000, allowing us to recover more than $50,000 overall.
We successfully cleared the $20,000 debt within five months, transitioning from a deficit to a healthy financial position. Our studio evolved into an efficient, well-structured operation. Now, I could focus on what I excelled at—creating art—while my team managed the rest. I learned that true growth stems not just from victories but also from enduring hardships, taking accountability for missteps, and persisting despite setbacks. Each phase of my journey offered valuable lessons, reinforcing the importance of maintaining low operational costs, even during prosperous times. Each breakthrough also brought new challenges that pushed me to evolve. Throughout this process, I remained committed to my craft, fueled by the recognition and connection my work inspired in others.
The Comeback
Earlier this year, I achieved a significant milestone, surpassing 100 Ethereum in total NFT sales since 2021, equating to approximately $250,000. This accomplishment earned me a spot in the esteemed 100ETH Club. However, beyond the financial figures, this achievement served as a quiet reminder of my perseverance amidst turmoil. I celebrated my 25th birthday in May, and to commemorate this occasion, I am planning a major exhibition titled “The Stars I Followed,” showcasing my new series, “Children of the Sun,” which consists of 25 cohesive digital art pieces set to release on May 25, 2025, priced at $25 each.
I continue to sculpt and paint, engaging in licensing deals, commissions, and direct sales, all of which run smoothly thanks to the solid infrastructure we established. My experiences have taught me that thriving in the creative economy requires more than just producing great art; it necessitates building a supportive framework around that art—developing systems, assembling a dedicated team, and ensuring consistency. My daily routine involves not only creating but also actively managing various aspects of my business. I understand that maintaining momentum is crucial, akin to driving a car; if I pause, the engine risks wearing down. Therefore, I remain committed to continual engagement with my work. I rise early and focus intently on my goals, embracing the blend of creativity and intention that drives my journey. While the path demands more effort than a typical nine-to-five job, my dedication is unwavering. I have experienced both the heights of success and the depths of struggle, and now I am committed to building a balanced and sustainable future, with much more to come.
