The value of NFT art in the midst of cryptocurrency
- The average price for NFT Art is $ 232.24, with the top 20% of NFT art collections earning over $ 8,000+ in sales over the last 30 days, as much as an architect’s or engineer’s monthly income, according to salary data from the Bureau of Labor Statistics
- One in four earns at least $ 3,773.63 per month, or $ 21.77 per hour from NFT art collections, with an average price of $ 862.52 per artwork
- Total sales over the last 30 days are equivalent to $ 317 million, with the Bored Ape Yacht Club as the best-selling NFT art collection with over $ 41 million in this period
The value of NFT
New research has revealed how much money NFT artists can make per month, with the top 35% earning above the US minimum wage, the top 20% earning at least $ 96,000 per year, and the 10% earning enough to be among the top 5 % income threshold in the United States.
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The survey, conducted by crypto and blockchain news site Crypto.news, analyzed the last 30 days of global NFT sales data from 2675 NFT collections on CoinMarketCap to determine the average salary of an NFT artist, using currency conversions from July 12, 2022 .
The analysis showed that the average price for NFT art over the last 30 days is $ 232.24 per artwork. The average 30-day sale for an NFT collection is $ 42,499.92, based on the average NFT price and average sales volume of 183 sales per month.
With monthly sales ranging from $ 8,000 to $ 41.5 million, the top 20% of NFT artists can earn at least $ 96,000 per year in sales. This means that successful NFT artists can earn more than an architect, engineer or fashion designer, according to salary data from the Bureau of Labor Statistics. The top 10% have earned over $ 41,000 over the past 30 days, which will place them in the top 5% income threshold in the United States, based on annual estimates.
However, the median monthly income is equal to $ 121.47, with the bottom 35% of NFT collections making zero sales, and the top 35% earning at least $ 1,160 in sales, which is the monthly US minimum wage. The top 25% earn at least $ 3,773.63 per month, or $ 21.77 per hour from NFT art collections, with an average price of $ 862.52 per artwork for this quartile. These calculations are based on a 40-hour working week, with sales figures over the last 30 days.
The most expensive NFT collection is the Bored Ape Yacht Club, which has an average price per NFT of 101.96 ETH, or $ 108,948, based on the last 30 days. It has also earned the most on sales in the last 30 days, a total of $ 43.15 million.
The average number of NFT assets per collection is 5,589.92, with an average of 39% ownership.
Ethereum is still the most important cryptocurrency used to buy NFTs, used in over half (55.14%) of all NFT collections. Solana and Binance USD were used for over one fifth each (22.42% and 21.57% respectively). The rest consists of collections where the blockchain was not registered.
Important collections include Murakami.Flowers by artist Takashi Murakami. Many celebrities have launched their own NFT collections, including Paris Hilton, Snoop Dogg and Madonna.
Top ten NFT collections by sales revenue
The top ten NFT collections by sales revenue in the last 30 days are:
- Bored Ape Yacht Club – 368 sales totaling $ 41.5 million
- CryptoPunks – 528 sales totaling $ 37.7 million
- Otherdeed for Otherside – 4690 sales totaling $ 25.4 million
- Mutant Ape Yacht Club – 991 sales totaling $ 20.9 million
- CLONE X – 1001 sales totaling $ 13.7 million
- Moonbirds – 535 sales totaling $ 13 million
- wtf – 2,912 sales totaling $ 12.7 million
- Doodles – 652 sales totaling $ 10.6 million
- Moonrunners – 22,349 sales totaling $ 9 million
- Azuki – 612 sales totaling $ 8.5 million
Over the past 30 days, 8.87 million ethers, or $ 9.73 billion, have been traded in volume.
A spokesman for Crypto.news commented on the findings: “Like traditional art, the value of NFTs can be very subjective. However, NFTs can offer owners something extra, for example in the case of the Bored Ape Yacht Club where owners have access to a exclusive community.This exclusivity can drive values even higher.As the price of cryptocurrencies fluctuates, so will the value of their art.While art is generally considered a good investment, the NFT world is still in its infancy, so it’s exciting to see how the value of the art that pioneered this movement is evolving over time.From what we have seen from sales figures to the top 20%, it has paid off to be an early user in this area and the market is still strong with a total of $ 317 million in sales in the last 30 days. »
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