Jose Sanchez
Research expert covering society, economy, & politics for Latin America
NFT art market - statistics & facts
When a digital collage by American artist Beeple sold for an astonishing 69.3 million U.S. dollars in 2021, the third-highest auction price for a living artist’s work, interest in non-fungible tokens exploded. While global sales of art and collectible NFTs peaked at over 20 billion U.S. dollars the following year, they fell by a staggering 63 percent in 2023. This sharp decline revealed that the NFT frenzy quickly lost much of its momentum, leaving people from the art world and beyond with a valid question: how is the NFT market faring, now that the hype is over?
