As we noted during our NFT Yearly Report 2019, Art has undeniably become one of the major Uses Cases in the NFT ecosystem.
This report aims to answer, independently and objectively, some the 5 main questions we have been regularly asked about the Blockchain Art Ecosystem:
Before going into the details of the analyzes, it is important to recall a structuring definition:
The volume of dollars traded only in the NFT art segment more than doubled between 2018 and 2019 (+114%). 2018 was marked by the very strong presence of so-called generative works with the secondary market around CryptoPunks. 2019 has seen a massive take-off from the non-generative art market.
In total, more than 32,000 unique works of art were exchanged in 2019, only on the Ethereum Blockchain. Here we find the exponential growth identified on the volumes of dollars exchanged.
The breakdown between the Primary and Secondary markets was reversed, going from a secondary market which represents 82% of the entire market to only 48% in 2019.
This reversal between the Primary and Secondary market is the reflection of several things:
Not surprisingly, the Art Marketplaces represent the nerve centers of the ecosystem. Our study focused on 5 of them:
SuperRare and KnownOrigin dominate the market by far in terms of sales volume and USD transferred. (Note that SuperRare was presented on another graphic in the Art Report, due to its very large volume)
Between 2018 and 2019, the behavior of buyers has changed considerably. The portfolios of the biggest collectors have gone from a very strong focus on CryptoPunks to fairly diverse wallets.
Although SuperRare became predominant in buyers’ wallets in 2019, these collectors hunt for marketplaces, looking for the work that will please them, the artist who will soon break through…
This community of buyers (sometimes wealthy) is in fact one of the engines of growth for this young ecosystem, but are sometimes also seen as “king makers” within the community of artists.
To discover all these insights, and many other analyzes on the Blockchain art market, download the full art report now!
Like always, our report is 100% free! We only ask for you to sign up for our mailing list.
Whether you are an artist, a newbie, a private investor, a Venture Capital or a traditional art collector, you had better follow the Blockchain Art market very closely over the coming months and years…