Revisiting Art Blocks

Key Insights

• Art Blocks has experienced serious upside and serious downside over the past year. Recent upticks in volume have bulls optimistic, while the still-large distance to all-time-highs has bears pessimistic.
• Bulls believe the dip in interest and volume for Art Blocks is just the first trough of many bull-bear cycles to come.
• Bears believe that on-chain art was and is fueled by speculative excesses. Any recent recoveries in volumes are just another “dead cat bounce.”
• Art Blocks' partnership with Pace Gallery promises to bring traditional art partnerships with famed artists like Jeff Koons going forward.

Art Blocks has experienced serious price volatility since Messari first covered the NFT collection in August 2021:

• 24,000% growth by the end of August 2021;