NFTS: Women make up less than 16 percent of the NFT art market

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NFTS: Women make up less than 16 percent of the NFT art market

 

In the first nine months of the year, NFT artwork was sold for $ 3.5 billion. But it was mainly men who benefited from this.

 

Women make up less than 16 percent of the NFT art market

Grimes are the only woman in the NFT top ten.

 

NFTS, so the repeated hope, have the potential to turn the art world upside down and could lead to a significantly more diverse market. So far, however, little of this can be ascertained. Men still make significantly more money than their female counterparts when it comes to selling crypto works of art. According to a recent market survey by Arttactic, women artists made up less than 16 percent of the NFT art market in 

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Among the ten most successful artists in the NFT sector, there is only one woman, the musician Grimes. Their crypto art generated sales of $8.9 million. The second most successful artist in terms of sales is Jo-Ani Charland. However, she only earned 1.6 million dollars with crypto art in the period under review, making it only the 50th most financially successful NFT artist.

 

NFT Art Market - Generally speaking, the vast majority of the revenue in the NFT art market goes to a very small group of people. 90 percent of all sales generated with NFT art end up with only 25 percent of the artists active in the field and more than half even with only 16 artists. This means that the NFT Art Market only differs to a limited extent from its classic role model.

 

NFT art market: Artists from the USA in particular benefit

 

In terms of proportion, artists from Africa or Latin America hardly play a role. Only 3.6 percent of the NFT art market is made up of works from these regions. 73 percent, and thus the majority of the sales generated with NFT works of art, go to artists from the USA, Great Britain, and Canada. American artists: have sold more than $167 million worth of crypto art since February. That is a little more than half of all sales on the NFT Market during the investigation period.

 

NFT Market - In the traditional art market, however, it looks at least partially even worse for women: According to a report by Artnet, there were only six women among the 100 artists with the highest turnover in terms of sales in the first half of 2021. And between 2008 and 2019, works by women artists accounted for just two percent of the total of $ 196.6 billion sold at art auctions during that period.