DIGITAL ARTWORK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Digital Artwork Market, By Type (Digital Paintings, Digital Sculptures, Digital Photographs, Digital Collage, Gif Art, Generative Art, Others), By Medium (2D, 3D, VR, AR, Video, Interactive, Others), By Distribution Channel (Online Channels, Offline Channels, Others), By End Use (Personal, Commercial, Investment, Others), By Price Range (Less than $100, $100 to $1,000, $1,000 to $10,000, More than $10,000, Others), By Artist Type (Amateur, Professional, Independent, Commercial, Emerging, Established, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Recent Developments

New product launches

In November 2022, DeviantArt launched DeviantArt Protect to safeguard artists' NFT artworks using blockchain-based digital signatures. This protects against unauthorized use and proves ownership and authenticity.
In June 2022, Nifty Gateway partnered with Warner Bros. ,Consumer Products to launch official DC-branded NFT collectibles, allowing fans to own authenticated digital DC artwork.

In March 2022, MakersPlace introduced the 'Lazy Minting' feature to allow easy minting of NFTs without requiring cryptocurrency wallets or payment. This enhances accessibility for artists.

Acquisition and partnerships

In September 2022, OpenSea acquired Dharma Labs and entered the NFT lending market to allow using NFTs as collateral for loans. This unlocks liquidity for NFT owners.
In August 2022, Rarible partnered with luxury brand Paco Rabanne to launch a brand-owned metaverse and NFT drops of digital fashion items. It expands its presence in the metaverse.
In May 2022, NTWRK collaborated with leading NFT artist Beeple to offer iconic NFTs through live-stream commerce and make digital art more accessible to mainstream audiences.