CryptoArt: A New Asset Class Emerges

Museum of Crypto Art Purchased Pak’s “Red” for 29.1262 Eth

Recently I presented the perspective that current segmentation of NFT-related businesses tends to overlook the dominant presence of art and design which arguably undervalues the cryptoart market. Regardless of your take on such things, such models are an important element of how cryptoart is valued as an asset class.

Which models will be taken up as more investors and speculators enter the scene may well be dependent on moves by already established forces outside the cryptoart scene. However, for the moment, the most relevant work is being conducted by insider analysts and the artists themselves.

Previously on CryptoArt News

Is the CryptoArt Market Undervalued? Aren’t NFTs Mostly CryptoArt?

Includes references to reports available via The Non-Fungible News as well as to Andrew Steinwold’s article “The first $100m in NFTs.”

A Newbie Collector’s View

As more collectors enter the space, considering their experiences and early impressions will help in developing a more approachable and understandable cryptoart market:

I just paid $100+ for a piece of digital art.

Thread:

— ctramount (@ctramount) July 24, 2020

CV VC Global Report: Blockchain in Art

CoinTelegraph is helping promote a sneak peek of an upcoming report from “Big Four auditor PwC and Swiss blockchain investment firm CV VC” on companies and trends developing uses of blockchain in the artworld.

The full CV VC Global Report: Blockchain in Art “will be published in the upcoming weeks” and will be discussed in a livestreamed event on August 12th.

Here’s the Sneak Peek.

NFT Fractions: New Ways to Collect and Speculate

The concept of NFT Fractions is a great fit for collectors, speculators and artists wishing to maximize gain. Check out NIFTEX.com for more.

DeFi Rate
Fractional NFT Ownership Heats Up – Niftex Shards Skyrocket
Cooper Turley

Can Performance Art Be Collected As NFTs?

Performance art is typically collected in the form of documentation and physical objects created during performances. Some artists and collectors, as well as museums, are exploring the collection of the reproduction rights of performances and that has led to experiments with licensing and contracts.

Perhaps the creative approach taken in the distribution of HOW ARE WE can serve as a starting point for addressing the collection of performance art with NFTs.

The Value of a Pixel

The recent purchase of Pak‘s “Red Pixel” work called “Red” by the Museum of Crypto Art set off a discussion about valuation.

Hazmus shared thoughts and gathered responses:

On Art and Value: Part 1 ~ Part 2

$WHALE: Experiments in Valuation

$WHALE is a social currency launched earlier this year by WhaleShark.Pro that is backed by non-fungible tokens gathered in a basket called The Vault.

The Vault’s valuation is audited by NonFungible which produced the $WHALE Vault Audit in May and July of this year.

CryptoArt Valuation Tools

Blockchaingamer’s Analytics database is a new tool for comparing NFT assets.

NonFungibles’ NFT Market Overview is a key resource.

Media Coverage of the CryptoArt and NFT Markets

Decrypt:
NFT token sales hit $100 million as virtual economy booms
Greg Thomson