Table 3.

Four selected cases

MarketCaseCountry headquartersProfit/NonprofitShort description
Auction housesChristie’sThe UKProfitOn March 11, 2021, Christie’s sold its first “purely digital NFT-based artwork,” and the record-breaking sale marked a significant milestone in the NFT world. The “First 5000 Days” authored by Beeple was sold for more than US$69m and attracted the interest of 22 million people during the final moments
Art galleriesUffizi galleryItalyNonprofitUffizi Gallery is one of the most visited museums in the world. On May 14, 2021, Uffizi Gallery in Florence, Italy, sold an NFT of the Tondo Doni by Michelangelo for €140,000 ($170,000)
TicketingTicketmasterThe USAProfitIn October 2021, Ticketmaster launched Live Stubs, a platform of digital collectible NFTs that mirror the unique section, row and seat of each ticket purchased, allowing fans to collect ticket stubs once again, this time with more capabilities
NFT exchangesOpenSeaUSProfitFounded in 2017 at the beginning of the NFT era, OpenSea is by far the most important NFT marketplace. In a market with $17.5bn in sales, OpenSea has traded approximately $10.5bn, managing a 60% market share
Source(s): Authors’ elaboration

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