The Original Norman Rockwell Painting, The Connoisseur
This idea of digitizing art won over many adherents and the NFT market exploded with more than $400 million moved in the first months of 2021. This new art comes with different styles and tastes, so we’ve compiled a list of the most expensive NFTs, styles and digital collections so far.
Traditional art is a $25 billion market, where the balance of power is firmly in the hands of collectors with high purchasing power. If in the traditional contemporary art market there is criticism about how little is passed on to the artist compared to the sale value of artworks, the opposite happens with the digital art market. More artist-friendly terms, along with curated marketplaces like SuperRare and Async Art are attracting a number of artists to the industry.
Mike Winkelmann, known as Beeple, is a digital artist who has worked for major companies in the United States. A few months ago he had no relevance in the art market, but it has changed after he sold a JPG file called “Everydays – The First 5000 Days” for $69.3 million. The work is a collage of all the works created by Beeple in the last 5000 days (you can find the image on our last post, here).
His collection includes other valuable works such as “The Infected Culture” valued at US$288,000, “Bull run” or “Into the ether”, all 3 will be available for 5 minutes starting at 7PM EST Friday, the 26th of March. You can find it here.
The styles are as varied as you can imagine. From the First Tweet by Jack Dorsey (on Valuables – $2.5 million or more) to NBA top shots (a partnership between NBA, the NBPA and Dapper Labs in which great NBA plays are eternalized and become collectible items that you can have forever). If you are a big NBA fan and want to receive notifications of when new packages will be released for purchase, simply register your email address on the platform or follow @nbatopshotbras1 on Twitter.
So, there are no rules. Whether you like sports, music, art or whatever, you can collect rare and exclusive items.
Particularly, one of the factors we like most is that Artworks no longer need to be static and instead can adapt and evolve as an artist develops their work over time. Matt Kane is one among many artists who have adopted this style. “Right Place – Right Time” was sold for $100,000 on a platform called Async Art.
BUYING x SELLING
Purchase at the asking price or make an offer by placing a bid. Once you own a piece you can resell it in the secondary market to other collectors. Practice that has led to discussion of “Wash trading” , which is becoming a problematic type of manipulation on Rarible platform (Recently, Rarible introduced fees on the platform to take the incentive out of wash trading, though it’s probably not a definitive solution to the problem).
Perhaps, the great artworks of the future will be on display in galleries hosted on metaverses like Decentraland and secured by policies on NFTs. Who knows?! Lets keep observing!