Global art market activity

2018, due to the difficult context in the cryptocurrency universe, the market was mainly driven by CryptoPunks. The renewed interest in art returned towards the end of 2018 and continued to grow during 2019. One of the interesting indicators to observe is the evolution of secondary sales in the Non- Generative art market. The latter has seen an evolution of 537% in one year! It’s not just the resale of works created by artists that has been booming: the number of artists, works, dollar volume traded and transactions also increased significantly in 2019.

Art Marketplace

As expected, marketplaces have played a major role in the dissemination and visibility of digital art. True sanctuaries at the service of artists, their role has been decisive in ensuring artists’ recognition and remuneration. Art Marketplaces have also taken on the role of gateways and evangelists, allowing a whole community of artists to overcome the technical constraints of blockchain, and by offering a simplified user experience, accessible to everyone. Their growing notoriety over the years has in the meantime increased the visibility of the artists they host. The constraints imposed by the blockchain do not allow a universal cross-platform Royalties system for now, the artists generated royalties incomes thanks to secondary sales that occured on the same platform where the artworks was initially issued. We can assert that without these marketplaces, mosts of these artists would never have issued a single piece of NFT artwork.