NFTs saw growth in 2021, they are now the hottest trend with thousands of investors crowd together to gather digital arts in various forms. NFTs have changed our way of perception about art. Few NFT sales produced record-breaking values. In this article, we’ll give a short alpha about NFTs, what are they? and what makes them valuable?
What is an NFT?
Non-fungible tokens or NFTs are a type of digital token that is unique in nature. They can be anything, such as songs, video games, paintings, collectibles, audio clips, GIFs or memes. Each NFTs has its own features that suit it apart from the other. Different Non-fungible tokens building a new form of digital assets industry from last year. The value of an NFT depends on the value of the associated underlying assets.
An NFT represents:
- Proof of ownership of a physical or digital underlying
- Digital assets created and traded on blockchain
- Proof of authenticity of a physical or digital underlying
Top 10 Most Expensive NFTs
1. The Merge – $91.8 million
One of the most expensive and iconic NFTs in history. The cryptographic token was made by Pak, the most valuable digital living artist in history. Whose works have grossed more than $350 million, and this piece was bought by 28,983 people who pitched in to seize a total of 312,000 shares for almost $92 million.
The Merge is a progressive on-chain NFT, with a unique token mechanism named ‘merge’.
The pictures of this NFT collection are different sizes in circles, which illustrate several masses. Every estimate can own one NFT in this collection. Suppose you own an NFT and buy another one, then two NFTs will merge into one, with their masses added simultaneously and the circle rises in size.
2. The First 5000 Days – $69.3 million
‘The First 5,000 Days’ is the second most NFT ever by a living artist. This work is done by artist Beeple aka Charleston-based digital artist Mike Winkelmann. Bringing the market to its highest was “Mike” who became a family name after selling a collage of 5000 images created per day over more than thirteen years named “Everydays: The First 5000 Days” at Christie’s first ever digital art auction in March of 2021.
The NFT was sold to crypto investor Vignesh Sundaresan, also known as Metakovan who is the founder of the Metapurse NFT project. To see the images and get a sense of Beeple’s vision, you have to go to his website. The work is, a large, in effect, square image file of 21,069 pixels × 21,069 pixels (316, 939,910 bytes).
3. Clock – $52.7 million
The third most expensive NFT Artwork ever exist. This NFT is a joint invention of Wikileaks founder Julian Assange and Pak titled “Clock”. It was invented to raise funds because of Assange’s defence and it was auctioned for the amount of $52.7 million in February of 2022 to AssangeDAO, a decentralized organization with over 10,000 supporters founded to crowdfund the sale.
This NFT is part of a bigger NFT collection called ‘Censored’, which forms over 29,000 tokenized messages by the buyers. The digital artwork counts the total number of days Assange has spent in prison or as Pak called it, “a time counter of being muted”.
4. HUMAN ONE – $28.9 million
HUMAN ONE is a 3D moving video sculpture with four digital screens. The NFT sold for $28.9 million at a Christie’s auction last year. The artwork displays an infinite video of an astronaut travelling through places at different times of the day. Beeple’s artwork reflects the artistic aims behind the digital kingdom.
But it also comes with an NFT record of ownership included. HUMAN ONE is a forever ‘in progress’ piece of digital artwork, forming it worth paying the high price.
5. CryptoPunk #5822 – $23.7 million
Most expensive cryptopunk ever sold is punk #5822. This punk style featuring a blue bandana sold for $23.7 million on February 12, 2022. Cryptopunk is part of the series’ alien-style avatar edition, out of 10,000 punks available where only 9 exist.
The CEO of Chain, Deepak Thapliyal is the buyer of this NFT. He shared an image of his punk on Twitter after the purchase.
6. CryptoPunk #7523 – $11.8 million
Alien CryptoPunks are also rare in the crypto world and are in the 6th place of the most expensive NFTs ever sold. As the only 9 alien punks made by Larva Labs comes along with entire accessories such as : earrings, medical mask and a cap. Shalom Meckenzie, the biggest shareholder of Draftkings has bought this cryptopunk #7523. This “Covid-Alien” punk priced $11.8 million that it fetched mind-boggling.
7. CryptoPunk #4156 – $10.26 million
This cryptopunk, #4156 ranks in most expensive Punk of all time. It was bought on December 9, 2022. This Ape Punk also comes with an accessory which is a blue bandana. Only 481 punks have this feature out of 10,000 punks. It belongs to the Ethereum address 0xf476cd for $1.25 million.
8. CryptoPunk #7804 – $7.6 million
Another cryptopunk on the list and the last one #7804. This ‘Alien’ CryptoPunk also comes with exclusive accessories like : shades to boot, pipe on mouth and with a cool cap.
9.Beeple’s Crossroad – $6.6 million
Beeple’s Crossroad is a short video clip, where the clip shows people walking past, fallen body with insults written all over the body. It’s just a short 10 second video. Tough this work is highly appreciated because this work is way different from the other NFTs.
10.SAVE THOUSANDS OF LIVES – $4.4 million
This NFT, ‘Save Thousands of Lives’ invented by Noora Health to raise funds for its work in South Asia. NFT can be used for good reason too. As the title hints, the progress will be used by the organization to save thousands of lives.
What makes those NFTs so expensive ?
Basically NFTs sell for the highest prices. Creators of NFTs mostly have large audiences or fan bases or admirers. NFTs also include additional abilities which raise the value of it. High demand and limited supply increases the price. Another reason NFTs might be so expensive is because of the potential they have to link with the metaverse.
NFTs are growing massively and raise their popularity by breaking new records. Most of the NFTs are collectible artworks. Many of them have started to go for millions.
Hope you have known about the most expensive and popular NFTs, which are a trend nowadays. Thank you for your time and we hope you found our content informative.