NFT: Unlimited Possibilities in the Age of Crypto Art

In 2021, NFTs are exploding, with record-breaking NFT creations dominating various reports, and various celebrities and giants joining in. From the world’s oldest auction house, Sotheby’s, to the entry of Louis Vuitton, Gucci, Visa, Tencent and Ant, NFT has been pushed directly to the top.

Among them, we have all heard the news of the blockchain game NBA Top Shot: its performance is not bad. Two months later, an artist sold the third most expensive artwork ever sold for $69 million. Since then, NFT has started a frenzy era, and there are jaw-dropping news about NFT almost every week.

NFT: Unlimited Possibilities in the Age of Crypto Art

According to the latest analyst data from overseas platform NonFungible.com, the total turnover of global NFTs in 2021 will exceed US$18 billion, while the corresponding figure in 2020 is only US$82 million, which means that in the past year, the NFT market has The scale has expanded by more than 200 times. Looking at all walks of life in the past year, such data growth is rare.

Azuki’s trading volume in the most recent month is higher than that of traditional NFT favorite CryptoPunks, which was recently acquired by BAYC creator Yuga Labs. Azuki had $85 million in sales last month, while CryptoPunks had $76 million in sales.

NFT: Unlimited Possibilities to Open the Age of Crypto Art

The most popular NFT collectibles, BAYC and Mutant Ape Yacht Club (BAYC), recorded sales of $220 million and $150 million, respectively, last month, according to The Block Research. Anime NFTs have surpassed popular NFT collections like Bored Apes and CryptoPunks. Azuki is now one of the most traded anime NFT series with over $344 million in sales.

Seeing the high-demand business opportunities in animation art, Azukis is widely popular among NFT enthusiasts under the continuous growth of Azuki NFT. Netflix and other streaming stations have boosted their anime content, attracting millions of subscribers around the world. The growing popularity of anime has led to the launch of the 0N1 Force NFT series in August 2021, which happens in the anime style. Shortly after launch, the average price increased from $1,500 to $30,000.

NFT: Unlimited Possibilities in the Age of Crypto Art

Share of different countries in the global public auction market in 2021

Written by Dr. Clare McAndrew, a well-known cultural economist and founder of Arts Economics, the 2022 Art Market Report, co-published by Art Basel and UBS (UBS), pointed out that the pursuit of NFTs by high-net-worth collectors is closely related to the There is a marked disconnect between the traditional art world’s interest in selling such works. About 88% of high-net-worth collectors surveyed by Art Basel are interested in buying NFT art in the future. But among art dealers, almost half do not sell such works and have no interest in doing so, suggesting they would prefer to see others pay off on their NFT investments.

While auction houses are generating compelling headlines with NFT sales, Christie’s and Sotheby’s combined NFT auction sales in 2021 ($150 million and $80 million, respectively, for a total of $230 million) are not even close By the sum of the three high-priced traditional works of art in the same year (the three works by Picasso, Basquiat and Botticelli totaled $288.6 million).

In the pre-2019 era, sales of NFT art and collectibles on the ethereum blockchain reached $4.6 million — considering that most people in the art world couldn’t yet explain what NFT art represented. A pretty impressive number. But in 2021, that figure hits a staggering $11.1 billion (and that’s not counting the $65.1 billion in the art market as a whole).

Sales of art-related NFT works on the platform grew more than 100-fold to $2.6 billion, largely driven by significant sales that continued after Beeple, such as one that sold for $3.3 million in August 2021 A work by Tyler Hobbs. (Sales of collectibles also peaked that month, with two CryptoPunks selling for more than $4 million.)

Among the high net worth collectors surveyed, a whopping 74% will buy art NFT works in 2021. But they started with low-priced works, spending a median of just $24,000 on collectible and artistic NFTs. Among them, the payout of art NFTs is only one-third, or $9,000.

The report presents the comprehensive and macro-level analysis results of the global art market in 2021. The U.S. market will maintain its leading position, and China is the largest public auction market, indicating a strong recovery in the market, making it the second largest art market in the world; Increase, Chinese collectors have the strongest purchasing power.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nft-unlimited-possibilities-in-the-age-of-crypto-art/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-06-26 11:09
Next 2022-06-26 11:10

Related articles