The fourth study, "Collectors and the Value of Art in Italy 2026," issued in Milan by Intesa Sanpaolo Private Banking, indicates that the Italian art market is undergoing substantial transformation. The study, based on a sample of 303 Italian collectors, describes an increasingly mature and informed profile, with a focus on contemporary art—particularly artists born after 1945—and an approach that values study, continuity, and work selection over time. The most significant finding, however, concerns the collapse of digital collecting: the NFT (Non-Fungible Token) sector has lost approximately 90% of its value in the last five years, indicating a clear redefinition of speculative expectations regarding digital and a renewed interest in historicized works with certified provenance. This positive trend for "physical" art is also supported by Deloitte data on international auctions, which showed a 71% increase in the first half of 2026 compared to the previous year: a clear reversal of the trend that also involved the Italian market, including sales of old master paintings, collectible silver, and fine jewelry pieces at the country's main auction houses.