Sales of digital NFT art fell 50 times in a year

At the annual Christie’s auction of NFT art, $ 4.6 million was raised; last year, artists sold their own works at the same auction and received $ 150 million.

NFT artists complained about the market instability: «The current market atmosphere is not ideal, especially in terms of prices for artists' works. However, we hope that the situation will improve in the future,» shared her point of view NFT artist Miss Sales.

Thus, the NFT painting «Pilgrimage» was purchased for $ 252,000. Although last year, the cost of a digital landscape depicting a man among tall mushrooms was estimated at almost $ 70 million.

According to analysts, not all NFT artists managed to stay in the market: virtual artworks have fallen in price several times, and investors are trying to weigh the pros and cons before buying. However, NFT collections familiar to users are still popular. For example, during the massive decline in the value of collections (June 13), 8 of the 10 most popular NFT collections, such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks, and Sorare, increased sales by 115% in 24 hours. Investors were buying up unique non-fungible tokens that had previously cost several times more.