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Slow landing of crypto art in the Spanish market | Babelia

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“Olea” by artist Soliman López, the first NFT to be auctioned in Spain.

In the heated debate over crypto art last year, Arco unexpectedly took the lead. Given that the pandemic has slashed most face-to-face meetings, it’s likely that the NFT that sold in the 2021 edition was the first ever to be sold at the fair. Now that Arko is back, the question is what is his position on this new sub-genre, the emergence of which has caused some controversy that in reality was already somewhat banal, such as reproducibility compared to the original, or the classic distance between cost and price in the context of wild speculation.

Have NFTs already been integrated into the Spanish art ecosystem? Collectively, these digital assets moved $3.5 billion between January and September 2021 around the world. In Spain, according to the report Art PriceNFT market share in 2021 was below 1% of total transactions compared to 5% globally. However, there are Spanish crypto artists like Zaragozan Javier Arres, surfing on the crest of a wave. Despite reluctance, local sales and auctions are…

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