An NFT, d’art d’art!, NFT: from the future, beyond the artistic world

$40.9 Billion Was Spent Buying NFTs in 2021, According to a Chainalysis Report (no replaceable tokens) or non-exchangeable (non-exchangeable) tokens, these unique and inviolable digital identifiers that make it possible to authenticate any digital file (image, video, sound, tweet).

Exorbitant prices

Since the sale at Christie’s in March 2021 of an NFT from graphic designer Beeple for $69.3 million, records in Anglo-Saxon auction houses have multiplied. Also on specialized platforms: On December 6, Nifty Gateway distributed a set of 250,000 NFTs from artist Pak for a total of $91.8 million, which would make him the most expensive living artist in the world as the “we consider this collection a single work.” .. The enthusiasm is so great that the French auction houses launched the race in March 2021 (Ader, Rossini, Aguttes with the world’s first SMS awarded €132,680 in the form of NFT on December 21). But due to French law forbidding them to sell “intangibles”, they only sold NFTs linked to “physical twins”: photos, videos…

$3 Billion in Crypto Art

The market for these art NFTs or crypto art was $2,542,028,317 as of December 31, 2021, representing 77,307 sales to 122,311 buyers, according to the co-founder of the market analysis platform Gauthier Zuppinger. “These figures are a first estimate of the blockchain Ethereum. It will be necessary to add to this the sales volume of crypto art from others blockchains and those of auction houses Sotheby’s ($100 million), Christie’s ($150 million) and Phillips ($6.19 million)”, says the specialist.

A volatile market

How does that work in concrete terms? A collector/investor wishing to acquire an art NFT must crypto wallet (cryptocurrency portfolio) on their computer or on their smartphone, converting euros into Ethereum cryptocurrency. Then connect this crypto wallet to a specialized platform, such as OpenSea, before buying a crypto art that he can resell to other people registered on the platform.

The crypto art market is still very volatile, with an average resale after 63 days for an average resale profit of $7,097, in 2021 (9 December figures from Fanny Lakoubay, crypto art and NFT advisor at LAL Art Advisory, explains: “The generative series (profile picture projects, collections of digital characters generated automatically by algorithms such as CryptoPunks or Bored Ape Yacht Club) sell out extremely quickly, as they are the subject of short-term speculation by a small number of players, who for the most part have made a fortune from cryptocurrencies and concentrate the majority of the largest purchases. This makes the market very unstable and there are more bids than requested. The market is expected to shrink and the value of most of these projects will be close to zero. On the other hand, the crypto art market, whose works are created by digital artists (such as XCopy, Kevin Abosch or Pascal Boyart), should stabilize in the long run. Lucky collectors who invested a year ago saw the value of their crypto art collection rise by 300% at a fixed rate in ether. For collectors who want to invest today, they are interested in buying young digital artists, for example these artists in residence of VerticalCrypto Art, but it is still a very young market. †

According to a study by the Nansen Analytics Platform for the financial times, It is said that this unregulated space is rife with fraud, scams and market manipulation, not least because the real identities of buyers and sellers are difficult, if not impossible, to ascertain.

On the side of the galleries

A few French art galleries have embarked on the adventure in 2021 with average results: Almine Rech on the Nifty Gateway platform, Kamel Mennour on the SuperRare platform. The Art Basel Miami Beach fair tried to host a “curated” exhibition of digital NFT works in December, but it is clear that crypto arts are escaping the actors of the traditional art market, the Except for an auction house like Sotheby’s, which launched in October launched its own NFT selling platform, During the first quarter, two new marketplaces will try to attract traditional collectors: Artprice, with (after its competitor Artnet, with and CADAF.

exhibition “Cyberpunk”, Gallery Goldshteyn-Saatort, 7, rue de Verneuil, 75007 Paris, until February 25.

Sell ​​”NFT: The Prohibited Auction #1″, at FauveParis, 49, rue Saint-Sabin, 75011 Paris, 01 55 28 80 90,, broadcast live on DrouotOnline, February 24 at 7pm.

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