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Creating graphics is very much a viable mode of monetization if you have the skills and can fulfil the needs of those looking for graphics.
Of course, as with anything, it's not something you will start making money doing over night and it will take some time and a lot of learning before you see it become a viable mode of monetization.
I am not into selling graphics alone. That is a saturated niche. I will definitely do graphics along with other services. It works for me using multiple fronts.