ARTSPLIT Market Round-Up for the Year 2022
The Year 2022 on the ARTSPLIT marketplace has shown tremendous promise and fluidity and as the market grew in leaps and strides. At launch, the platform begun activities with just 6 artworks in the month of April and a market capitalization of $182,000. At the close of the year 2022, the ARTSPLIT Marketplace recorded a 1,799% growth, ending the year with a market capitalization of $3.456 million while growing its portfolio from 6 artworks to 51 artworks.
Volume and Value Analysis
During the year, we saw the market recorded a total volume of 334,253SPLITS from the 51 artworks currently listed on the ARTSPLIT platform. Diving in deeper into these figures, Ben Enwonwu’s “Ogolo (Oghogho Mmuo)” was the most traded artwork on the marketplace in 2022 as it accounted for 87,182 SPLITS, representing 26% 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 Year 2022;
On the value side, we saw a total of $ 229,583.66 worth of transactions consummated in the year 2022. Diving in deeper, Ben Enwonwu’s “Ogolo (agbogho Mmuo)” accounted for the most value of transaction seen during this year as the artwork accounted for $ 91,966, which represents 41% of the transactions consummated all through the year. Below is a table of the top five value artworks in the year 2022;
Artist of the Year
Now let’s look into the top artist of the year 2022. The top artist measures the most traded artist seen all through the year. It’s a metric that measures which artist, market participants, have shown interest in by measuring the volume of transactions they recorded. In 2022, a total of 26 artists was traded on the ARTSPLIT marketplace. However, the artist of the Year goes to Ben Enwonwu majorly because of his artworks, “Ogolo (Oghogho Mmuo),” accounted for 27.0% of the total SPLITS recorded this year. This represents 87,181 SPLITS, bringing a total of $91,961 consummated during the year, representing 41% of the total transactions seen during the year. Below is the table of the top 5 artist in the Year 2022;
Gainers and Losers Chart
In the Year 2022, we saw 37 artworks posted gains during this year. The chart was led by the “Sahelian Masquerade” by Bruce Onobrakpeya which posted a whooping gain of 838.00% during the year 2022, as it started trading at $0.08 per SPLIT and ends the year trading at $0.75 per SPLIT. Below are the top five gainers for the Year 2022;
On the loser’s chart, for the year, we saw only five artworks out of the 51 artworks post losses. The chart was led by an artwork by Portrait of a Woman by Ben Enwonwu, which posted losses of 34% in the year, as it started trading with $0.38 per SPLIT to end trading at $0.25 per SPLIT. Below are the top five losers for the Year 2022;
Market Depth Analysis
As with the exceptional performance of the ARTSPLIT marketplace in 2022, we saw the same performance in its market breath, as sellers accounted for most of the transactions seen during the year, representing $ 125,444 with a volume of 203,013 SPLITS. This means the sellers accounted for 60.7% of the total value of transactions and 54.6% of the total volume of transactions.
ARTSPLIT is an art trading technology company driven by one common goal; enhancing the investment status of African art by allowing users to co-own rare and valuable artworks on a platform 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.
