Women’s History Month may suggest an examination of the past, but for jewelry brand Kendra Scott, it’s also a chance to look forward to both the celebration of female artists and the potential of women within the NFT marketplace.
This month, Kendra Scott is working with five female artists to develop NFTs based on the company’s Women Empowerment charm. The goal is not only to boost these women’s work within the art world but also to bring women into the lucrative space of non-fungible tokens, where artwork sales have set financial records—often without female artists as part of the landscape.
The first artwork inspired by the Kendra Scott charm—which gives a portion of its regular sales to benefit women’s and children’s causes throughout the year—sold out within an hour on OpenSea, an NFT marketplace. Customers who purchase these NFTs receive one of the Women Empowerment charms as well.
Kendra Scott is sponsoring the costs of putting the artwork onto the marketplace, promoting the artwork on its brand channels, and returning all profits to the artists, says Kellyann Miller, Kendra Scott’s director of brand marketing.
What makes this branded NFT collection stand out is the artwork itself. Coco, one of the artists who is working with Kendra Scott, created three NFTs to put on the market. Coco is an artist at her NFT collective, Stardust Society; OpenSea is the world’s first and largest digital marketplace for crypto collectibles and NFTs.
Coco also is host of New Girl on the Blockchain, a twice-weekly show on Twitter where she explains everything NFT in a way that everyday people can understand.
Her Stardust collection features a portrait of three women, their hair long and pastel colored, each wearing a Kendra Scott–inspired flower. What catches the attention most is their eyes—surrounded by a kind of sparkly stardust, they gaze directly at the viewer with a frank expression that seems to maintain a distance while also acknowledges their innate beauty.
Coco says it is easiest to think of NFT artwork like a trading card. It is kept in a wallet, like a coin or token. You can keep it forever just for the enjoyment or to see if it goes up in value. You also can trade it or sell it, just like an artistic sort of stock.
“Right now, women are largely underrepresented in the NFT space. Female artists account for only 5% of NFT sales,” Coco says. “By building up and nurturing these inclusive spaces, [Kendra Scott] is really paving the way for serious change.”
Miller says Kendra Scott as a brand wanted to get into the NFT space in a leadership role as well as show its willingness to grow and remain innovative as the company celebrates its 20th anniversary this year.
“We’re taking our heritage and blending these two worlds together. It’s also giving us a chance to work with this new wave of female entrepreneurs,” Miller says.
For Coco, such a collaboration shows jewelers the potential in the NFT space and adds credibility between a household name like Kendra Scott and female artists like herself who are developing this next phase of the web.
“Personally, NFTs have changed my life,” Coco says. “I was laid off from my job because of COVID, and I was living on food stamps. Because of the NFT space, I can make a living and support myself, truly making my dream of being a full-time artist come true. This career is possible because of NFTs. When companies like Kendra Scott come in as a partner with NFT artists like me, it really propels us forward.”
Top: Coco is one of the female artists working in collaboration with Kendra Scott to inform and sell her NFT artwork as part of Women’s History Month. Kendra Scott is sponsoring the artwork and its position on the NFT marketplace to boost women’s potential in the lucrative art landscape (photos courtesy of Coco and Kendra Scott).@jckmagazine
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