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Crypto art - statistics & facts

Crypto art refers to digital artworks whose ownership can be authenticated, just like with physical art. Usually, the authenticity of physical artworks can be proved in different ways, for example, by examining the artist’s signature or receiving authentication certificates. In the case of crypto art, different methods must be used. The authentication and proof of ownership of digital files relies primarily on non-fungible tokens (NTFs), which are unique digital assets that are stored in blockchain. NFTs cannot be reproduced and can represent any type of digital format such as GIF, JPEG, and MP3. They are not mutually interchangeable, but it is possible to buy them with cryptocurrencies. Once a digital artwork is uploaded on a blockchain in the form of NFT, it will become a unique piece of art, as it will always be possible to determine the original file even if its copies are shared indefinitely on the web.

Beeple: the first major auction of crypto art

On February 25, 2021, Christie’s – one of the leading auction houses worldwide in terms of fine art revenue – promoted an online auction for a single lot, a non-fungible token-based artwork by American artist Mike Winkelmann, known as Beeple. It was the first time that a major auction house put on sale an NFT digital artwork and accepted cryptocurrency for the sale. On March 11, 2021, the lot was ultimately sold for the astonishing price of 69.3 million U.S. dollars, making it the third-highest auction price for a living artist’s work, behind Jeff Koons and David Hockney. As Beeple’s sale hit the news, the interest in NFTs exploded, leading other global players in the sector, such as Sotheby’s and Phillips, to start selling non-fungible token projects at auction. Overall, the combined sales of Christie's, Sotheby's, and Phillips worldwide based on NFTs totaled roughly 185 million U.S. dollars in 2021.

Is the NFT art market here to stay?

While total sales value of art and collectibles NFTs worldwide amounted to just 30 million U.S. dollars in 2020, the NFT craze started in the following year caused this number to skyrocket, with the value of art and collectibles NFT transactions eventually surpassing 11 billion U.S. dollars in 2021. Considering that global online sales of the art and antiques market, excluding NFTs, amounted to approximately 13 billion U.S. dollars that year, this helps put in perspective the huge impact of the NFT boom on the sector. That said, the monthly NFT sales value in the art segment fluctuated significantly since April 2021, recording much lower figures in 2022 than the peak of 844 million U.S. dollars reported in September 2021. Meanwhile, according to a December 2021 global study, art dealers selling non-fungible tokens in 2021 only represented six percent of the survey sample, while 46 percent of respondents worldwide did not sell any NFT that year and had no plan to do so in the future.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Dec 7, 2022

Key insights

Sales value of art and collectibles NFTs worldwide
11.16bn USD
NFT collection in the art segment with the highest market cap
Art Blocks
Share of art dealers selling NFTs worldwide
6%
Get more insights

Editor’s Picks Current statistics on this topic

Total number of sales involving a non-fungible token (NFT) in the art segment worldwide over the previous 30 days from April 15, 2021 to March 15, 2023, by type

Art & Antiques

NFT sales in the art segment worldwide in the last 30 days March 2023, by type

Total value of sales involving a non-fungible token (NFT) in the art segment worldwide over the previous 30 days from April 15, 2021 to March 15, 2023 (in 1,000 U.S. dollars)

Art & Antiques

NFT sales value in the art segment worldwide in the last 30 days March 2023

Leading profile picture (PFP) non-fungible token (NFT) collections worldwide as of January 2023, by market cap (in million U.S. dollars)

Art & Culture

Market cap of leading PFP NFT collections worldwide 2023

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