Bitcoin
$41,183.04-5.40%
Ethereum
$2,804.53-8.70%
XRP
$0.907185-7.52%
Cardano
$2.16-2.35%
Polkadot
$28.96-6.72%
Stellar
$0.272113-6.78%
Dogecoin
$0.202542-7.51%
Chainlink
$21.90-7.61%
Uniswap
$18.87-10.29%
Polygon
$1.10-8.24%
Algorand
$1.77-4.79%
Cosmos
$37.68-5.10%
Litecoin
$145.03-8.62%
Bitcoin Cash
$495.80-7.60%
Wrapped Bitcoin
$41,164.09-5.41%
Filecoin
$62.30-14.10%
The Graph
$0.664446-7.59%
Tron
$0.090046-7.17%
Ethereum Classic
$45.38-9.11%
Tezos
$6.00+2.56%
Aave
$270.20-8.93%
Monero
$227.03-7.48%
NEO
$38.22-9.38%
EOS
$3.91-7.56%
IOTA
$1.24-7.51%
BitTorrent
$0.003178-7.32%
Waves
$25.36+5.02%
Bitcoin SV
$130.89-8.68%
Maker
$2,233.76-10.14%
Dash
$160.43-9.04%
Decred
$111.83-3.82%
Decentraland
$0.659331-7.32%
ICON
$1.52-5.20%
NEM
$0.143621-7.89%
Zcash
$107.31-9.92%
OmiseGO
$8.66-6.91%
Paxos Standard
$1.01-0.86%
NuCypher
$0.264449-10.12%
Yearn Finance
$27,795.26-8.28%
Qtum
$9.48-8.68%
Bitcoin Gold
$50.54-5.97%
Basic Attention Token
$0.626130-8.88%
Ren
$0.938885+16.57%
0x
$0.862914-8.34%
Fetch.ai
$0.743916+4.40%
Kava.io
$5.53+2.78%
Bancor
$3.33-6.52%
Band Protocol
$7.19-5.64%
Siacoin
$0.014232-10.15%
Nano
$4.52-9.48%
Loopring
$0.371970-7.34%
Civic
$0.449237+8.52%
Storj
$1.04-7.80%
Numeraire
$39.94-4.24%
Lisk
$2.75-7.66%
Orchid
$0.315916-7.80%
PAX Gold
$1,753.95-1.08%
Enzyme
$128.96-12.98%
Augur
$20.30-4.53%
Aragon
$4.49-9.81%
district0x
$0.144135-5.43%
Kyber Network
$1.39-8.13%
SingularDTV
$0.001311-6.01%
Tether
$1.00+0.04%
USD Coin
$1.00+0.04%
Dai
$1.00-0.03%

NFT Art Sales Reached All-Time High of $8.2M in December

With sales of physical art down because of the coronavirus pandemic, NFT-based artworks have taken off in 2020.

Jan 1, 2021 at 6:37 p.m. UTC
Updated Sep 14, 2021 at 10:50 a.m. UTC

The total trading volume of non-fungible token (NFT) artwork hit an all-time high of $8.2 million in December 2020, according to cryptocurrency art analytics platform CryptoArt.io.

  • With the lights turned off in museums and galleries due to the coronavirus pandemic, sales of physical art plunged in 2020, but sales of NFT-based art have taken off, reaching an all-time high in December, according to CryptoArt.io data.
  • Token-based art sales hit $8.2 million in December compared to $2.6 million in November 2020.
  • Richard Chen, the creator of CryptoArt.io, told CoinDesk, "Crypto natives are starting to understand the value NFTs bring to verifying authenticity of the original artwork. Furthermore, big-name digital artists like Beeple are discovering what NFTs are and how they open up a new business model for artists other than commissions."
  • CryptoArt.io tracks numerous digital art market places such as Async Art, KnownOrigin, MakersPlace, SuperRare and Nifty Gateway, which was acquired by Tyler and Cameron Winklevoss in 2019.
  • Most NFT purchases are made using ether or Ethereum-based stablecoins but some platforms such as Nifty Gateway and MakersPlace accept credit card payments as well, said Chen.
  • More and more artists are now presenting their work in online showrooms and the NFT-based art scene is seeing increased interest.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...