Valuing your work in the crypto art space can be challenging as collectors and artists alike are still figuring out how to price this emerging asset class. Expanding on KnownOrigin’s FAQ, you should be considering these factors when pricing your work:
How original is your artwork? Does it leverage other original works or are you innovating? If you create a truly unique piece and a style for yourself, your work will attract higher prices.
Are you an established artist or are you just getting started? What is the size of your audience? Have you worked for major brands or clients? Has your work been exhibited in museums and galleries? The more established you are in the crypto art space and in your artistic career outside of it, the more valuable it is. Also, if you have been selling artworks before crypto art, the prices you have been attracting should act as a floor for your crypto art when you get started.
Did you create the artwork as a 1/1 or as a multiple edition? As a rule of thumb, the rarer it is, the more valuable it is compared to your other works.
Level of effort/quality
Did you pour your heart and soul into a project or did you play around with some concepts? While not always true, the level of effort put into a piece can be reflected in its quality and will command a premium from collectors.
How are other artists with a similar style or background performing? Every artist has their own style, but you can find comparable artworks to help you understand how collectors are viewing pieces that have similar factors to those stated above.
These factors should guide you when listing a piece but there are no exact recipes to establish the right price. Market conditions change quickly in the crypto art space as the price of ETH varies and market participants adjust their behavior.
You should try to connect with collectors ahead of time to get a sense of how they value a piece. You should also set your own expectations and abide by them so that short term market conditions do not affect you.