1-3. Key Market Status

The art market is a market where modern, modern and high art ( including antiques) are traded, and the global art market is already forming a mega market at 1.3 times the semiconductor market and 2.3 times the sound source market. The art NFT market is also one of the fastest growing sectors of the NFT market.

l '20 Years of Global Art Industry Market $64.4B (74 trillion won)

The country's share of the global art market is the United States (44%), the United Kingdom (20%), and China (18%), with its focus recently shifting to Asia. In addition, 'Art Tech' invests in high-yielding artworks. In terms of its returns, it has a high return of 9.5% S%P and 6.5% gold, compared to 14.0% for contemporary art.

l Asia's Fastest Growing Art NFT Market

Asian market is emerging as a leader in the NFT craze with Central and Southeast Asia accounting for 35% of the $22 billion in global NFT transactions in '21. (’22, Chainalysis Inc)

In addition, Southeast Asian countries such as the Philippines, Thailand and Malaysia are at the top of the global NFT traffic list, and the United States (3. Compared to 9%), the UK (3.3%), Canada (6.2%) and Germany (3.4%), Asia has a higher buying appetite with the Philippines (9.5%), Thailand (7.9%) and Malaysia (10.5%).

l Features of NFT Services

(1) Differentiation and development around specialized services

In response to the overwhelming market dominance of OpenSea, a comprehensive NFT platform, there is a strong trend towards providing vertical platform services around specialized services.

In the field of items such as sports cards, game items, and art NFTs, 'SuperRare' strictly selects artists and operates mainly on high-value transactions centered on NFT quality, and 'Raible ' is community-based I'm trying to differentiate myself with DAO services.

(2) Ethereum-DApp-centric platform

Currently, most NFT platforms are built and serviced by the DApp platform of the Ethereum blockchain. As a result, the burden of high fees (gas costs) incurred when using the Ethereum network is increasing.

(3) Auction and price-based pricing

On most NFT platforms, the initial price is set mainly for artists, and the price is determined through auctions, thus excluding the market or user for the NFT valuation. As a result, there are frequent cases of sharp price drops during the 2nd sale, which often results in a loss of trust in NFTs

Last updated