Know who is buying NFTs to successfully sell your art

Who buys NFTs? If you can figure this out, you can start promoting your NFT art and projects more effectively. NFTs are now displayed in prominent places where one would usually expect to see traditional art. It’s this tendency to view NFTs and understand who is buying them that can help you succeed.

It’s easy to hit up and add your art to NFT marketplaces like OpenSea, Mintable, and Rarible, but those aren’t the only places to sell your art. As more and more artists learn how to make and sell an NFT, it’s now more important than ever to learn where and how to sell your art. And it’s not always in an NFT market.

A new investigation by Yodeck suggests that the value of NFT art follows a similar trajectory to traditional art. More and more businesses and individual collectors are now looking to NFTs as a way to decorate their offices and homes, just as they once did with traditional paintings and sculptures. Let’s look at who buys NFTs…

Companies are now buying NFTs

Buy NFTs: A picture frame sits against a wall with the word NFT inside

Limited-edition NFTs grab the attention of corporate buyers (Image credit: D-Keine/Getty)

An impressive 69% of businesses surveyed said they would buy NFT art either as an investment or to display in their offices and receptions. According to statistics, if you create NFT art, it would be a good idea to collaborate with interior designers and architects.

Many companies outsource buying decisions, so pitching NFT projects directly to design studios, interior designers, and corporations could be an easy win. We have a good guide on the types of design clients you may encounter and how to deal with them. The fascinating take from the survey is that NFT art is replacing traditional art, and with it real world value.

How to price your NFT

When minting a non-fungible token on a blockchain for sale, it is always difficult to know how to price your NFT. Considering selling to a firm, architect, or interior designer offers a unique way to price your NFT art. Data from this survey shows that on average businesses will pay up to $4,999 / £4,999 for an NFT.

There is potential in this traditional route to sell and grow your artistic career

Even if you don’t plan on selling to the corporate sector, this offers a good guide on how to value and price NFT art. Digging into the survey data, 15% of respondents said they would pay between $1,000 and $4,999 / £1,000 and £4,999. But 15% would also pay between $50,000 and $99,000 / £50,000 and £99,000. Interestingly, another 15% would pay up to $1m/£1m.

What the stats show is that selling an NFT to a company or designer is a path that can support all artists at every stage of their career. Whether you are an established artist or new to NFT, there is potential in this traditional route to sell and grow your artistic career.

Why NFTs Can Replace Traditional Art

Buy NFTs: Illustrators of Disguised Monkeys

Are Bored Apes and other NFTs coming to an office near you? (Image credit: Bored Apes Yacht Club)

If you intend to sell your NFT art in spaces where traditional art has always been, it is important to understand why you can be successful. Looking at the statistics, 97% of respondents currently display artwork in their offices and public spaces. 80% of this art is paintings, which bodes well for NFT art. 76% are digital photography and 42% are video installations.

NFT art can embody all of these trends in a single image, suggesting that there is wide openness for NFT artists who can create paintings and art that mix media, combining video and photography, for example. example. We have a feature on NFT trends for 2022, which can help you focus your creativity.

When do companies buy NFT art?

It may sound dry, but understanding when designers and companies buy art can provide insight into how to promote your own art. Knowing when art is purchased can provide a clearer picture of who is buying NFTs.

In the survey, 41% of respondents said they would buy new artwork during a building’s annual maintenance. This is great news, it means it could lead to regular sales of your NFTs or allow you to plan your buying decisions.

41% of respondents said they would buy new artwork during a building’s annual maintenance

Establishing good contacts in design studios, with architects and decorators could lead to regular contracts and sales. Looking at the stats, 16% of respondents also said they would buy NFT art that catches their eye. A good online presence, the use of Twitter and Instagram are essential to attract a buyer’s attention. And don’t forget the NFT drops, these could be for design agencies and architects to grab their attention.

Buying NFTs: something to think about

Buy NFTs: the word NFT in a block of glass

Will you be selling your art to businesses in 2022? (Image credit: Just_Super/Getty)

The data from this Yodeck survey clearly shows that there is a growing demand for NFT art in the corporate world. Although Yodeck had better let us know this great news – he sells digital screens – he shouldn’t devalue the central idea; interior designers and architects are now looking for NFT art for their clients and projects.

It can also be beneficial to understand the different NFT cryptocurrencies and which one is best for you. Some NFT blockchains are already attracting brands such as Nike while others are more environmentally friendly and as such likely more attractive to businesses.

To do this properly, you’ll need to think a bit traditionally about your NFT projects. Consider bridging the physical and digital worlds; look for galleries willing to display NFTs alongside a social media campaign and an NFT market push.

What the survey shows is that the world of NFTs is getting bigger by the second, and there are opportunities for artists who know who is buying NFTs and how to reach them. If you really want to succeed with your NFT art, consider creating projects tailored to the needs and identity of clients.

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