Major players in the cryptocurrency community are investing heavily in NFT technologies for digital arts that outperform the physical art market.
According to a September 21 tweet from Messari Mason Nystrom analyst, Mushroom Rarible’s market sales exceeded $ 5 million in September, with 5,309 RARI tokens sold. Messari said $ 1.5 million of this new volume came in a single day, September 14th. Additionally, according to Nystrom, the SuperRare NFT market has grown at an “amazing pace this year”.
This activity has caught the attention of investors who see potential in NFTs that can be used to give token holders ownership of digital art, trading cards, and more. Morgan Creek Digital founders Anthony Pomplano and Jason Williams have reportedly made a “huge effort” with a number of digital artists.
“Just as Bitcoin surpasses gold in nearly all respects, so digital art also trumps traditional art in almost every way,” Pomplano said in his newsletter. “This shift to the world of digital art is not a matter of whether it will happen, but rather when. I personally believe that the market value of digital art will be higher than the market value of physical art.”
Morgan Creek’s leader said the traditional art market has been valued at about $ 65 billion in recent years, more than 180% more than the S&P 500. Pomplano said he is confident he will see “6,000 times growth” in the digital art market. Which is estimated to be less than $ 10 million.
Async Art’s $ 100,000 record in digital art sales in the NFT market confirms Pompliano’s claim, as did Crypto CoinFund’s unannounced investment in Rarible on September 8th. Rarible expects the entire NFT sector to grow by 50%. To $ 315 million by the end of this year.
Artist Darren Klein said, “Given the ease of buying and selling digital NFTs and their popularity, it will only be a matter of time before digital art transcends physical art.”