nft-art-sales-reached-all-time-high-of-$8.2m-in-december

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

NFT Artwork Gross sales Reached All-Time Excessive of $8.2M in December

The whole trading volume of non-fungible token (NFT) artwork hit an all-time excessive of $8.2 million in December 2020, consistent with cryptocurrency art analytics platform CryptoArt.io.

  • With the lights turned off in museums and galleries attributable to the coronavirus pandemic, sales of physical art plunged in 2020, but sales of NFT-based art possess taken off, reaching an all-time excessive in December, consistent with CryptoArt.io data.
  • Token-based art sales hit $8.2 million in December in comparison to $2.6 million in November 2020.
  • Richard Chen, the creator of CryptoArt.io, suggested CoinDesk, “Crypto natives are starting up to treasure the label NFTs affirm to verifying authenticity of the present artwork. Furthermore, gargantuan-name digital artists treasure Beeple are discovering what NFTs are and how they begin up a brand unique enterprise model for artists as adverse to commissions.”
  • CryptoArt.io tracks moderately a few digital art market areas similar to Async Artwork, KnownOrigin, MakersPlace, SuperRare and Nifty Gateway, which became once bought by Tyler and Cameron Winklevoss in 2019.
  • Most NFT purchases are made utilizing ether or Ethereum-based stablecoins but some platforms similar to Nifty Gateway and MakersPlace glean credit card payments as neatly, said Chen.
  • An increasing form of more artists are now presenting their work in on-line showrooms and the NFT-based art scene is seeing increased passion.
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