Buy these NFTs, and you’ll support Miami artists. Local journalism gets a boost too.

Just about everyone, it seems, is dropping, minting and selling NFTs. Hey, there are whole conferences dedicated to them!

So what’s different about the Miami Herald Collection, a monthly program launching April 22?

First, the artists who participate actually live in South Florida. Their work recognized by experts, juries, museums and other connoisseurs, which translates into Fine Art. The NFTs are affordable, which means regular people can get into the NFT swing without forking out $6-plus million.

The whole community benefits. The artists make money and share in profits. Buyers get great art. And Miami Herald profits go to expand local journalism through the Miami Herald Impact Journalism Fund at the Miami Foundation (where, ahem, you can also make tax deductible donations.)

Miami’s Oolite Arts, which recognizes and supports local artists, is partnering with the Miami Herald to create the program. Artist talks and meet-ups are in the works.

“Whenever you see a new art delivery platform like NFTs, you want to help artists plug in and have a chance to participate,” said Oolite President and CEO Dennis Scholl. “Partnering with the well-known, respected Miami Herald brand will bring attention to these artists and what they’re doing.”

INITIAL SERIES

The initial series will feature two respected, emerging Miami artists, Gonzalo Fuenmayor and Edison Peñafiel, courtesy of Oolite Arts. Each is offering a single work in a limited edition of 100 (similar to fine-art prints and photographs.) The price starts at $50 each and will max out at $150 — meaning early buyers get the best deals.

Those who follow Arturo Rodriguez, whose works appear in major museums, are in for a treat. An NFT version of his 2022 painting “Terra Incognito Courbet Variation XVI” is available in a limited edition of three — though at a substantially higher price.

An NFT version of Rodriguez’s painting from the same series, “Terra Incognita Homage to Courbet II” is also offered — but with a twist: the image is split into 53 fragments, priced at $75 each, in a limited edition of 20. To get the entire work, a buyer needs to collect all 53 fragments by purchasing them or trading with other buyers.

Rodriguez is participating through the courtesy of Miami’s LnS Gallery.

WHAT AND HOW

So what the heck is an NFT?

NFT stands for Non Fungible Token. Think of it as the authenticated version of a lithograph or fine-art photograph. Sure, you could pirate a downloaded version of a digital image, just like you could buy a poster or photocopy a famous physical work. But what would it be worth?

(Expert opinions on the future value of NFTs vary as well. You can read more here.)

And how does this all work?

The platform for the Miami Herald Collection is simpler than some others. Our collection is sold on a closed platform. This means that you set up a digital wallet that can only be used here, then load it up using a credit card in U.S. dollars, which converts to Tether cryptocurrency, or USDT. Think pre-digital days, when you would buy ride tokens at a fair.

Unlike the fair where you were stuck with those tokens forever, you CAN exchange your unspent Tether for U.S. cash. USDT are pegged to the U.S. dollar, so there’s no difference in exchange rate.

If you’re already crypto-savvy and have a digital wallet on another platform, you can use that, too. Just follow the instructions when you sign up.

Because some of us (OK, lots of us) aren’t quite into this yet, we’ve got a step-by-step guide and FAQ. In the next few weeks, we’ll be hosting tutorial events, virtual and live. We’ll send details to those who sign up at nft.miamiherald.com; you also can keep a lookout on Twitter.

WHY?

So why is the Miami Herald launching this program?

1. We’re all about Miami.

2. We love Miami artists and want to help them succeed.

3. Through this program, you help expand the local public service journalism that is essential to democracy.

4. The Miami Herald Collection program is credible and fact-verified. Just like our award-winning local journalism. (22 Pulitzer Prizes. Corruption revealed. Policies changed. Lives improved.)

5. Web.3 and the metaverse are already here. Time to join the party!

FUTURE SERIES

The Miami Herald Collection plans monthly releases. Renowned Haitian-born painter Edouard Duval-Carrié will be the featured artist. Works by Oolite Arts awardees Loni Johnson and Jen Clay also will be offered.

More details about that drop — along with community events — will be released soon.

Artists throughout Miami-Dade, Broward and Monroe counties are welcome to apply for inclusion in this program. For information, email MiamiHeraldNFT@gmail.com, copy to jwooldridge@miamiherald.com.

This story was originally published April 4, 2022 at 7:00 AM.