.svg)
Menu
The digital art market has been growing over the past few years, attracting a diverse range of collectors. No longer limited to traditional galleries, art enthusiasts are exploring new frontiers in the digital realm. Here's a look at five types of collectors shaping this new landscape.
These are the seasoned art collectors who've run out of wall space and decided to venture into the digital realm, also attracted to diversify their collection focus. These collectors often start by extending their traditional art collections into the digital realm. Many already collect early computer art dating back to the 1950s, such as Georg Bak, a renowned art advisor and curator in this space. They're now exploring how digital art fits into the broader context of art history.
These collectors often appreciate when digital artists incorporate physical elements into their work. This bridge between the physical and digital worlds can make the transition more comfortable for traditional collectors, helping them see the continuity between established art forms and new digital mediums. Miami-based collectors Pablo Rodríguez-Fraile and Desiree Casoni are prime examples, seamlessly blending their love for traditional art with cutting-edge digital pieces.
Nowadays there is a common habit in the digital art space to call the contemporary art collectors “traditional art collectors”, which makes many of them laugh as they might be trailblazers in their own field of collecting.
These collectors are the lifeblood of the digital art ecosystem. They're not just buying art; they're investing in artists' careers. Take Elsie of the Edicurial Collection, who's made it her mission to support emerging digital artists and document the birth of a new artistic movement. Another notable example is Basileus, who founded the artist collective called The Cult of Crypto Art, supporting a group of early crypto artists to exhibit their works around the world. These patrons are building relationships, not just portfolios.
It's also worth noting the trend of artists supporting other artists in this space. Similar to any other early art movements, established digital artists often play a crucial role in nurturing and promoting emerging talents within the community. For example, artists like Sasha Stiles and Kevin Abosch have been known to champion and collaborate with up-and-coming digital creators, fostering a sense of community and mutual growth in the digital art world.
Got a thing for generative art? There's a collector for that. Obsessed with AI-created pieces? You bet there's a community. Early crypto art collectors like Colborn Bell have been diving deep into the genre since 2018, becoming experts and tastemakers in their field with early crypto art collections like the one at MOCA (the Museum of Crypto Art).
Other notable examples in this category include Karatekid, pseudonymous collector, and Erick Calderon, founder of ArtBlocks, who have championed and pushed the generative art genre, building state of the art collections. Additionally, Jean-Michel Pailhon has carved out a niche for himself by specializing in digital photography.
These are the crypto entrepreneurs and blockchain investors who see digital art as the perfect intersection of the technology they already believe in and creativity. Remember Metakovan, who paid $69 million on Beeple's "Everydays"? He is a crypto entrepreneur who made his fortune in Bitcoin and paid for his infamous Christie’s purchase in Bitcoin, allowing him to diversify his crypto earnings at a time when NFTs were one of the only options to do so.
It's not just individuals getting in the digital art market. Forward-thinking corporations, such as Arab Bank Switzerland, are building corporate collections of digital art. Besides, collectors are assembling into DAOs (Decentralized Autonomous Organizations) to collectively manage a treasury and acquire works vetted by the members of the DAO. Let’s mention FlamingoDAO or UnicornDAO who have been actively building such collections.
Finally traditional institutions and museums are also slowing adopting the new medium, from Centre Pompidou in Paris collecting blockchain-based art to LACMA who just formed a digital art council. All these institutional collectors are bringing the much-needed legitimacy and scale the digital art world needs.
While the medium may still be new, the motivations behind collecting digital art aren't so different from traditional art collecting. In his article for Artsy in 2018 entitled The Four Types of Art Collectors, Evan Beard categorized traditional art collectors into four types: the Enterprising Collector, the Connoisseur, the Trophy Hunter, and the Aesthete. Interestingly, we can draw parallels between these categories and our five digital art collector types:
The digital art landscape is evolving at high speed, and these diverse collectors are shaping the future of art ownership. While the technology may be new, the fundamental human desires to own, appreciate, and shape culture remain the same.
Whether you're a seasoned collector or a curious newcomer, there's never been a more exciting time to dive into the world of digital art.
So, which type of collector are you?