Art Tactic claims that over 77% of NFT Art Sales go to male artists

A recent study reported by Bloomberg about the state of Non-fungible tokens (NFTs) implies some of the hard gender imbalances in the cryptocurrency world. Research agency Art Tactic conducted the said research, which claims that more than 77% of the profits generated by NFT art sales went directly to male artists in the past 21 months. 

Female artists only got 5% of the sales profits, which suggests that the industry still has a long way to go. The rest, 16% of the sales, were grabbed by the creators with “unknown” gender, hence “more than,” which is an alarming signal.

Another bizarre thing which is also a red signal, is that Bloomberg’s report hides the number of NFT female artists. The percentage calculation by Art Tactic is based on the study of total sales in the NFT space, but looking at the ratio of the total count of women to men might offer a clearer picture of the gender inequalities.

Despite the NFT market moving ahead at a bullet speed, the disparity is never accepted in any field. It is unclear for now if the situation arose from the buyer side or the creator side. 

Art Tactic reports 1 female in the top 10 best-selling NFT artists

Art Tactic also released the list of top 10 best-selling NFT artists. The unpleasant point is that the list only contained one female artist, the musician Grimes after the blockbuster sale on the Winklevoss-owned Nifty Gateway.

The data does not come as a surprise as the crypto world has always been a thing of toxically libertarian bro culture. However, things have begun to change recently with the arrival of many young female developers, content writers, analysts, and artists. 

The study by Art Tactic also shows huge wealth inequality in the crypto world. Many claims that NFTs are a “grassroots” movement to bring marginalized groups back into the fold. However, the data shows that only 16 artists grabbed more than 55% of the total money generated by NFT sales in the past 21 months.