The rise of NFTs increased demand for digital goods, increasing their value for investors and creators. Since the first non-fungible token (NFT) was created in 2014, the blockchain industry has advanced significantly.
NFT sales are becoming a hot topic, and some of the more well-known NFTs have made millions of dollars. But how high may these numbers be raised? The ecosystem is constantly expanding, so it is challenging to respond precisely. As it advances, new milestones will be reached, and breakthrough projects will be started. We will discuss what an NFT is and list the top 10 Most Expensive NFTs Ever sold in history based on the selling price in USD at the moment of sale, even though we are still determining how high the numbers will rise.
What is an NFT?
A non-fungible token (NFT) is a token that is issued on a blockchain to represent a unique asset, such as a piece of real estate, art, music, or a document. Because each NFT is a distinct digital asset with a distinct identifier, they are not fungible. No matter how similar two NFTs may appear, they cannot be used interchangeably. In contrast to an NFT, one bitcoin is equivalent to and marketable for another. Because of this, NFT technology is employed to produce ownership and authenticity proof on the blockchain. NFTs can be tokenized representations of physical things or tangible digital assets like play-to-earn gaming items and metaverse land.
The 10 Most Expensive NFTs Ever Sold – Unbelievable Prices
Let’s look at the 10 Most Expensive NFTs Ever Sold now that we are more apparent of what NFTs are. It is crucial to remember that the costs mentioned in this article are determined at the moment of the transaction.
1. The Merge – $91.8 Million
Unknown artist Pak created the virtual artwork known as The Merge. On December 6, 2021, it was up for auction on the Nifty Gateway marketplace and sold for $91.8 million. In other words, this NFT was a collection of works that individuals could buy. The Merge was separated into 312,686 pieces and distributed to 28,983 investors. Three enormous white masses with a dark background make up The Merge. The greater the mass of mass investors, the more they would purchase.
2. The First 5000 Days – $69.3 Million
The Second Most Expensive NFTs Ever Sold. Michael Winkelmann designed, the First 5000 Days, a digital artist better known by his stage name Beeple. The artwork was sold at Christie’s, where traditional buyers submitted the first price of about $100, which was followed by higher offers from cryptocurrency investors. It took a few hours for the NFT to reach $1+ million because Beeple was well-liked by cryptocurrency users and had made significant sales like Crossroads. Beeple accepted a bid of $69 million for the artwork on February 21, 2021.
3. Clock – $52.7 Million
The Clock has an odd story and is the third most expensive NFTs ever sold. PAK produced this intending to raise money for Julian Assange’s legal expenses following his controversial detention in 2019. Due to accusations that he spied on the US government, notably through the WikiLeaks website he founded, Assange remains in prison. The artwork resembles a clock that counts down the days since Assange’s incarceration. The Clock NFT was sold to AssangeDAO, a decentralized autonomous organization (DAO) established to oversee the transaction, for $52.7 million (16,953 ETH) in February 2022.
4. HUMAN ONE – $28.9 Million
This is Beeple’s first actual art piece: a four-screen, 3D-moving sculpture. An astronaut exploring numerous locations at various periods is depicted in an endless film. The creator’s artistic tenacity outside of the digital realm is revealed in HUMAN ONE NFT. It is believed that attempts to fuse multiple televisions into various forms and patterns served as the source of inspiration.
It’s critical to remember that this work evolves with time. Beeple regularly accesses and modifies HUMAN ONE remotely, despite not having ownership rights. At Christie’s auction in November 2021, the piece brought a bid of $25 million, which increased to $28.9 million when fees were considered.
5. CryptoPunk #5822 – $23.7 Million
The most expensive CryptoPunk NFT ever sold is #5822. Deepak Thapliyal, the CEO of Chain, bought it in February 2022 for $23.7 million. Being one of just nine “Alien” CryptoPunks in the whole 10,000 collections, it also brought in a high price because it belongs to the rarest Punk Type in the collection. Larva Labs made 10,000 Ethereum blockchain avatars called CryptoPunks in 2017; Yuga Labs later purchased the collection’s intellectual property in March 2022.
6. CryptoPunk #7523 – $11.75 million
One of the nine unique “Alien” punk kinds developed by Larva Labs is CryptoPunk #7523. It has a unique relevance due to the COVID-19 pandemic tribute provided via the medical mask feature. This homage is one of the critical reasons Shalom Meckenzie, the largest stakeholder of DraftKings, paid an astounding $11.8 million for it at Sotheby’s ‘Natively Digital’ auction.
7. TPunk #3442 – $10.5 Million
One blockchain that has its version of CryptoPunks is Tron. Although TPunks don’t usually bring in large profits, Justin Sun, the co-founder of Tron, purchased TPunk #3442 for $10.5 million in August 2021. The Joker and TPunk #3442 are similar in appearance. Although this TPunk doesn’t appear to be worth millions of dollars, Justin Sun’s popularity undoubtedly played a role in its high valuation. Sun ultimately gave the NFT to APENFT, a startup built on Tron that aims to tokenize art on the blockchain.
8. CryptoPunk #4156 – $10.26 Million
One of the most well-known CryptoPunks in the NFT world, CryptoPunk #4156 is the eighth most expensive NFT ever sold. Not only was this punk depicted by renowned digital artist Beeple in one of his works, but #4156 also launched Nouns, another illustrious NFT initiative renowned for its exclusive distribution and exorbitant prices.
After a disagreement with the authors about commercialization rights, CryptoPunk #4156 was sold on December 21, 2021, for a stunning $10.26 million. Punk #4156’s first owner paid $1.25 million for it and sold it over 10 times more than that nine months later.
9. CryptoPunk #5577 – $7.7 Million
CryptoPunk #5577, ranked ninth, proves that the NFT craze continued in 2021. This item sold in February 2022 for $7.7 million. Notably, leverage was used to purchase the job. CryptoPunk #5577, which possesses the “Cowboy Hat” trait, was bought by Robert Leshner, the man of Compound Finance.
10. CryptoPunk #3100 – $7.57 Million
Our article’s list of the 10 Most Expensive NFTs Ever Sold is completed with CryptoPunk #3100, which sold for $7.6 million on March 11, 2021.
One of the nine “Alien” CryptoPunks that make up the entire collection of CryptoPunks, #3100 is the rarest type of punk in the collection. Additionally, it has unique characteristics like a headband made of white and blue that only 450 punks out of 10,000 have, explaining its great value.
Since 2020, the NFT market has expanded significantly. We examined some of the 10 Most Expensive NFTs Ever Sold in greater detail in this post. The list was dominated by CryptoPunks, arguably the most publicized project ever. Artists Pak and Beeple also frequently appeared in our list of the 10 Most Expensive NFTs Ever Sold, demonstrating their significance in the field.