PAK: NFT Artist Market Report – May 2022
- Analyst: James Cocksey
- Pages: 50
- Access: Analyst Pro
ArtTactic is delighted to launch the inaugural market report on Pak, one of the most important NFT artists today. Building on ArtTactic’s unique research methodology, this report provides a 360° view of the Pak market, ranging from an in- depth analysis of each NFT project, to collector analysis and social media following. This is the first extensive market analysis produced on Pak, and signals ArtTactic’s commitment to the NFT space.
Pak is considered one of the true pioneers and innovators in the NFT art space, and was among the first NFT artists to invent and explore new models of collecting NFTs, through projects such as Merge, Lost Poets, The Fungible and project “X”. In the period between February 2020 and April 2022 has seen the sale of more than 180,300 NFTs by Pak across the primary and secondary markets (total single edition, limited edition, and open edition sales), raising a total value of $394.9 million in just over two years.
New record sale price for Pak in 2022
A collaboration between Pak and Julian Assange in February 2022, saw the launch of Clock, a single edition NFT sold at auction, which featured a muted timer counting down the number of days Assange had been imprisoned. Clock sold for a record $51.5 million, marking the second highest price ever paid for an NFT at auction, just behind Beeple’s Everydays: The First 5000 Days, which sold for $69.3 million at Christie’s in March 2021.
Social media a key market driver
Like most of the NFT market, social media plays a key role in the generating interest and awareness. For Pak, Twitter drives 62% of media traffic, followed by 18% of mainstream and crypto news, 18% is related to crypto and art blogs, and 1% comes from the Reddit network.
Pak’s community of engaged twitter users (posters) are predominantly male (94%), with only 6% of Twitter posts generated by females. However, more women got engaged during the Wikileaks /Assange collaboration in February this year, with 33% of the Twitter posts generated by female accounts.
Collectors and influencers
Among the key collectors of Pak are SilverSurfer, one of the very early and most committed collectors of Pak. Pablo Rodriguez- Fraile – a leading patron of the arts, mathematician, economist, and investor. Other prominent collectors of Pak are: mexpex.eth, who has become the biggest collector of Lost Poets, R&A Art Collection, which has been collecting NFTs since October 2020 and is also one of the largest collectors of NFTs from Pak’s Lost Poets project. Another collector of Pak’s work is Eric Young, a former Merrill Lynch employee, who spent $1.3 million on Pak’s NFT Pixel at Sotheby’s in April 2021.
The report contains the following elements:
PAK Biography and Timeline
Media and Audience Analysis
Primary and Secondary Market Analysis 2000-2022 (YTD)
Key Projects Analysis