Source | Barrons
While art in the form of nonfungible tokens has been making headlines the past few months, the traditional art industry, with the exception of the major auction houses and a few high-profile artists, has approached the market with caution.
Despite the hype, what actually is the size of the NFT art market? How disruptive will it be? And what roles should the traditional industry player play in its future development?
In a report this week, London-based research and advisory company ArtTactic explored the global NFT art market to address these questions and look beyond the current frenzy.
“The rapid rise of the NFT market, but lack of research and information, presented us with an opportunity to start covering this area from the beginning, and to be able to follow and monitor its developments as we go forward,” Anders Petterson, founder and managing director of ArtTactic, told Penta in an email interview, regarding its NFT Art Market Report 2021, the group’s first analysis of the subject.