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Trends: Known Origin

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Trends: Known Origin

Known Origin is a digital art marketplace that runs on the Ethereum blockchain.

Artists can tokenize their artworks into ERC-721: a non-fungible token standard that enables digital ownership verification.

More than 1000 artists have already published their art pieces on the platform. And the marketplace has processed 23,187 transactions to date (with an average price of $687 per transaction).

In August 2021, the marketplace hit an all-time high trading volume of $1.65M.

What’s next:
Known Origin is a part of the crypto art meta trend.

Monthly sales volume for crypto art has now reached $400M. And more than 1.625M token-based artworks have been sold to date.

Traditional art players are embracing NFTs too. For example, Sotheby’s recently sold a lot of 101 Bored Ape Yacht Club NFTs for $24.4M.

And Christie’s has become the first leading auction house to conduct an auction with Ethereum as the bidding currency for its curated set of Art Blocks NFTs.