ARTSPLIT Market Round-Up: February 2023

The month of February on the ARTSPLIT marketplace turned out to be a bullish month, representing the market’s second consecutive monthly gain in 2023, as the market posted a 10.87% gain, which saw its market capitalization gain $379,000, from $3.48 million at the start of the month, to end the month with a market capitalization of $3.86 million. While we saw significant increases in the price of certain artworks, a major boost to market capitalization was because of the addition of the new MUSICSPLIT model to the ARTSPLIT marketplace.

Volume and Value Analysis

During the month, we saw the market recorded a total volume of 12,438 SPLITS from 46 Artworks of the 53 Artworks currently listed on the ARTSPLIT platform. Diving in deeper into these figures, Kolade Oshinowo’s “Koma Village II,” was the most traded artwork on the marketplace during the month as it accounted for 4,000 SPLITS, representing 32.16% of the total volume of transactions, the marketplace saw during the month. Below is a table of the top five most traded artworks in the month of February 2023;

On the value side, we saw $5,951.95 worth of transactions consummated during February. Diving in deeper, King Perryy’s “Continental Playlist,” accounted for the most value of transactions seen during the month as the artwork accounted for $1,039.59, which represents 17.47% of the transactions consummated during the month. Below is a table of the top five value artworks in the month of February 2023.

Artist of the Month

Now let us investigate the top artist of the month. The top artist measures the most traded artist seen during the month. It is a metric that measures which artist, market participants, have shown interest in by measuring the volume of transactions they recorded during the month. In January, 26 artists were traded on the ARTSPLIT marketplace. The artist of the month goes to Kolade Oshinowo majorly because of his artwork, “Koma Village II,” accounted for 32.16% of the total SPLITS recorded during the month. This represents 4,000 SPLITS, bringing a total of $688.87 consummated during the month, representing 11.57% of the total transactions seen during the month. Below is the table of the top 5 artist in the month of February 2023;

Gainers and Losers Chart

For February, we saw nine artworks post gains during the month. The chart was led by Abayomi Barber’s “Memories of the Sun I, II, And III,” which posted a whooping gain of 100.00% during the month, as it started the month trading $0.12 per SPLIT to end the month trading at $0.24 per SPLIT. Below are the top five gainers for the month of February 2023.

On the loser’s chart, for the month, we saw three artworks post losses in February 2023. The chart was led by Irma Stern’s “A Still Life of Fruit with a Spanish City Beyond,” which posted losses of 20.00% during the month, as it started the month trading $2.00 per SPLIT to end the month trading at $1.60 per SPLIT. Below are the three losers for the month of January 2023.

Market Depth Analysis

Although the market performance of the ARTSPLIT marketplace was bullish, the same cannot be said for its market breath, as sellers accounted for most of the transactions seen during the month, representing $4,749.18 with a volume of 10,897 SPLITS. This means the sellers accounted for 79.79% of the total value of transactions and 87.61% of the total volume of transactions. There was no activity on the lease side as all artworks ended the month flat.

ARTSPLIT are an alternative assets investment company that is democratising access to alt investments assets like Artworks, Music etc. for everyone. The platform solves by this leveraging technology and co-ownership to enhance the investment status of African artworks and music catalogues by allowing users to co-own rare and valuable ‘African Artworks & Music” on an app (mobile & web) that guarantees price discovery and market liquidity.​

To learn more about the platform, send an email at info@artsplit.com or visit www.artsplit.com. You can also call or WhatsApp our mobile at +234(0)9088962169 and follow @artsplitofficial on Twitter, Instagram, and Facebook.