In a recent study, published on the cryptocurrency and blockchain news website Crypto.news, sales data from 2,675 NFT collections on CoinMarketCap from the previous 30 days were evaluated to determine the average salary for an NFT artist using exchange rates as of July 2022.
The analysis also revealed the monthly earnings potential of NFT artists. The study found that the top 35% of NFT artists made more than the U.S.minimum wage, the top 20% made at least $96,000 annually and the top 10% made more than the top 5% of Americans in terms of income.
According to the data, the average cost of an NFT artwork during the previous 30 days was $232.24. Based on the average NFT price and an average sales volume of 183 sales each month, the average 30-day sales for an NFT collection come to $42,499.92.
The top 20% of NFT artists have a sales potential of $8,000 to $41.5 million per month, with a minimum yearly income of $96,000. Based on income data from the Bureau of Labor Statistics, effective NFT artists may be able to make more than an architect, engineer, or fashion designer.
According to yearly estimates, the top 10% earned more than $41,000 in the previous 30 days, placing them in the top 5% of earners in the United States.
The bottom 35% of NFT collections generated no sales, while the top 35% generated at least $1,160 in sales each month which is the monthly U.S. minimum wage. However, the median monthly earnings are $121.47. With an average artwork price of $862.52 for this quartile, the top 25% earn at least $3,773.63 per month or $21.77 per hour from NFT art collections.
These calculations are based on sales data from the previous 30 days and a 40-hour work week.