The 26-year-old CEO of Goodlife Media & Communications Inc and serial entrepreneur Farokh Sarmad is receiving backlash after dropping 27 baby photos of himself on OpenSea for 0.27 ETH each.
Farokh Sarmad’s “Baby Farokhs” Controversy
CryptoTwitter is livid at the fact that Farokh Sarmad has done 56.6 ETH in volume by simply selling baby photos. Artists are especially disappointed that rich individuals like Farokh are making even more money off personal mementoes than original NFT art.
“Farokh’s baby pictures have done 56.6 ETH in volume. Idk man sometimes I just wanna leave this space tbh. What’s the point?” tweeted @500ETH. “I’m not even kidding either; like why would I continue to sell art in this space if rich people just sell baby pictures and they do 56 ETH in volume?”
CryptoTwitterers were quick to voice their agreement. “I can feel your frustration and it’s totally justified. The current market does nothing to uplift artists and rewards a lot of low effort trash,” commented @MoneyPlaneIdol. @dilliongogarty agreed with @500ETH by tweeting: “its def frustrating as an artist on first glance, but the way i see the baby farokhs is they are the same as an 888 inner circle type of deal, not art. just influencer tokens.”
Farokh Sarmad isn’t the only entrepreneur and internet celebrity making money off seemingly low-effort NFTs. Recently, digital artist Leaf Swan called out Paris Hilton for only being in the NFT space for clout. What’s more – Twitter CEO Jack Dorsey sold his first tweet as an NFT for over $2.9 million; while in March 2021, Elon Musk turned down a $1 million offer for a song about NFTs.
Are NFTs helping smaller artists?
NFTs have the power to provide a living for artists who are struggling to sell physical art. In addition to the initial payout, NFTs can also be coded in a way to ensure that artists still receive 2.5% to 10% of a sale every time the token is resold. On the other hand, while NFTs offer a revolutionary opportunity for artists and musicians who want to make a living off their art, privilege and popularity do play a big role when selling NFTs.