Today, Jean-Michel Basquiat is unquestionably one of the most recognizable and beloved artists on the planet. A native New Yorker of Haitian and Puerto Rican descent, Basquiat first attracted attention as a teenage graffiti writer in the late 1970s, before rapidly transitioning into the role of international sensation in the newly glamorous, increasingly global gallery world of the 1980s. Although the main draw was his inimitable artistic practice, which merged cryptic poetry and symbology with antic, Expressionistic figures, Basquiat quickly became a downtown celebrity of the first order, walking the runway, collaborating with musicians, and famously dating Madonna.

Tragically, Basquiat died from an overdose at the age of 27. His short artistic career makes it all the more remarkable that his work and his visage seem to be everywhere in the 21st century. Of course, I’m not just talking about his actual paintings, which reliably sell for tens of millions of dollars at auction. Licensed reproductions of Basquiat’s work now fuel a wide range of products and branding opportunities, from affordable t-shirts and keychains, to an unprecedented collaboration with the NBA’s Brooklyn Nets resulting in a Basquiat-inspired home court design and team uniform.

But as licensing has become a lucrative revenue stream for contemporary artists and estates, it has also intensified age-old criticisms about the corrosive powers of commercialization on creative integrity. The Basquiat estate’s approach has made Jean-Michel’s work one of the focal points of this tension, especially after the opening of “King Pleasure,” a major exhibition about the artist’s life and work now on view in Manhattan. To sort through this tangled web, Artnet News art business editor Tim Schneider spoke to market guru Katya Kazakina about her look into Basquiat and the increasingly big business of artwork licensing.