According to the most recent Art Market 2022 report that Art Basel and UBS published, the global art market expanded by 29% year over year, increasing to up to $65.1 billion in aggregate art sales. This growth was partly driven by a significant increase in interest in digital art made possible through non-fungible tokens (NFTs), which topped $11.1 billion.
Source: AllianceBlock partners with ARTBANX to tokenize physical artwork in Web3