top of page

Coll3cting Digital Art Is Different Interesting Findings of the ART+TECH Report of 2023!

Coll3cting Digital Art Is Different Interesting Findings of the ART+TECH Report of 2023!

#Web3 and #blockchain technology have the potential to change the art industry in many ways, affecting the way art is created, owned and experienced and providing new

opportunities for artists and collectors. This will undoubtedly lead to new forms of art

collecting and a new diversity of #collectors entering the art market. In its latest edition,

the ART+TECH Report | Digital Art Coll3cting explores the rapidly evolving world of Web3 and its impact on the art market and the concept of art collecting, delving deep into the buying patterns and collecting motivations of art enthusiasts and #DigitalArt collectors.

In June and July 2023, 300 international art and art #NFT collectors were asked in an online survey about their personal experiences when buying and collecting

Digital Art. 

The findings of the ART+TECH research show that there are distinct differences between Digital Art and NFT's in general, but also that Web3 is indeed having an impact on collecting habits, which will eventually also have an influence on the traditional art market:

  • 83% of respondents consider Digital Art as equally significant as traditional art forms, and 55% perceive its importance to have grown in the past year. Digital ownership associated with blockchain technology has finally anchored Digital Art in the official art canon and given it its significance and merits it certainly deserves.

  • According to the data, there is a clear rise in Generative and Blockchain-based art. Over half (55%) of collectors are primarily collecting Generative Art, followed by 48% focusing on Blockchain-based art, also indicating artists' growing recognition of blockchain as a creative medium.

  • Digital Art collecting remained relatively unaffected by the crypto market's downturn, with 56% of collectors sustaining or even increasing their art NFT purchases. For 48% the perceived value of their art collection is not at all affected by cryptocurrency’s volatility.

  • Web3 rules and roles are defining how Digital Art is collected and bought, hence challenging traditional art market paradigms. Open marketplaces (35%) and artist purchases (30%) are the preferred ways to buy Digital Art. And traditional roles start to blur as artists collect (43%), collectors curate (35%), and communities shape artist careers and market demand.

  • Fractionalized art collecting is slowly gaining traction, with 21% already taking advantage of it. While investment-driven motivations were minimal, the idea of collective ownership, which is emerging as a new form of collecting, was the main driving force for 1/3 of fractionalized art collectors.

The report further includes:

  •  A profile of a Digital Art collector

  •  Insights on the Digital Art buying process

  •  Preference of protocols

  •  Main motivations to collect Digital Art

  •  Most important factors to buy even more Digital Art

  •  13 Key Findings 

  •  Conclusion: Coll3cting Digital Art Is Different

There is an urgent need for the traditional art market to gain a better understanding of where the future of Digital Art is headed. By making this report available to all interested parties, the ART+TECH Report aims to provide an independent and unbiased database

and create a common understanding from an art market perspective.

The ART+TECH Report is an independent initiative by Kerstin Gold, Kristina LeipoldJohanna Neuschäffer and Anne Schwanz - four Berlin art market actors with different functions, who share a strong interest in future-oriented scenarios for the art


You can download the full report below !

Written by Anil Altas Brug

Co-Founder, Crypto Female Germany

11 views0 comments


bottom of page