ARTSPLIT Market Round-Up: March 2023
The month of March on the ARTSPLIT marketplace turned out to be bullish, representing the market’s third consecutive monthly gain in 2023 and a bullish end to the first quarter of the new year.
The market posted a 0.29% gain, which saw its market capitalization gain $11,000, from $3.85 million at the start of the month to the end with a market capitalization of $3.86 million.
Volume and Value Analysis
During the month, the market recorded a total volume of 3,173 SPLITS from 39 Artworks of the 53 Artworks currently listed on the ARTSPLIT platform. Diving deeper into these figures, Ben Enwonwu’s “Ogolo In Motion” was the most traded artwork on the marketplace during the month as it accounted for 984 SPLITS, representing 31.01% of the total volume of transactions, the marketplace saw during the month. Below is a table of the top five most traded artworks in March 2023.
On the value side, we saw $6,641.39 worth of transactions consummated during March. Diving in more profoundly, Ben Enwonwu’s “Ogolo in Motion” accounted for the most value of transactions seen during the month as the artwork accounted for $2,993.01, which represents 45.07% of the transactions consummated during the month. Below is a table of the top five value artworks in March 2023.
Artist of the Month
Now let’s look into the top artist of the month. The top artist measures the most traded artist seen during the month. It’s a metric measuring which artists, and 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 Ben Enwonwu majorly because his artwork, “Ogolo in Motion,” accounted for 31.01% of the total SPLITS recorded during the month. This artist represents 1,298 SPLITS, bringing a total of $3,050.02 consummated during the month, representing 40.91% of the complete transactions seen during the month. Below is the table of the top 5 artists in March 2023.
Gainers and Losers Chart
For March, we saw two artworks post gains during the month. The chart was led by IRMA STERN’s “A Still Life of Fruit with a Spanish City Beyond,” which posted an increase of 25.00% during the month, as it started the month trading at $1.60 per SPLIT to end the month trading at $2.00 per SPLIT. Below are the top five gainers for March 2023
On the loser’s chart, for the month, we saw three artworks post losses during March 2023. The chart was led by Ablade Glover’s “Townscape,” which posted losses of 60.00% during the month, as it started the month trading at $0.20 per SPLIT to end the month trading at $0.08 per SPLIT. Below are the three losers for March 2023.
Market Depth Analysis
Although the market performance of the ARTSPLIT marketplace was bullish, the same cannot be said for its market breadth, as sellers accounted for most of the transactions seen during the month, representing $6,282.08 with a volume of 2,657 SPLITS. This means the sellers accounted for 94.59% of the total value of transactions and 83.74% 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.
