Non-tradable tokens (NFTs) experienced a boom in popularity between 2021 and 2022. At the time of writing, their popularity has somewhat waned, and NFTs are now worth a few thousand dollars rather than a few million.
However, this does not change the fact that during the two years of NFT fever, we witnessed various events, from fraud associated with NFTs to collections being sold for tens or even millions of dollars.
It’s worth noting that in recent months, NFT prices have seen a decline. Nevertheless, the values of those sold in the past few years are still astonishing. Here is a collection of the most expensive NFTs ever. Are you standing? Then you’d better sit down…
What are non-fungible tokens (NFTs)? Definition.
Let’s start by revisiting the definition of non-fungible tokens (NFTs). Non-fungible tokens are digital assets that cannot be exchanged for anything else and represent a unique value. They can be used to represent digital artwork, music, or the sale of unique virtual assets. NFTs can also represent photos, videos, or audio.
Non-fungible tokens (NFTs) are indeed useful as they represent ownership of digital content. In real-life scenarios, if you post something on social media, such as an image you’ve created, it can be challenging to prove its authenticity and your status as the creator. Non-fungible tokens (NFTs) solve this problem. Stored on the blockchain, they track the details of your work and establish you as the creator, providing buyers with confidence that the digital items they purchase are original.
The most expensive NFT collections ever!
Now that we understand what characterizes non-fungible tokens (NFTs), let’s explore the most expensive collections:
- The Merge collection. Sold for US$91.8 million.
No other token has even come close to that amount. The Merge was sold on exactly 2 December 2021. What makes this NFT so unique?
The Merge is more than just a digital image. The whole thing consists of three, planet-like objects, basically masses that grow when someone buys their units. As many as 28,893 investors chipped in for the entire amount to share one NFT as a result.
This makes the painting the most expensive NFT ever sold, and the only one with multiple owners.
- Everyday: the First 500 days by Beeple. Sold for US$69.3 million.
The name of this work is no accident. Beeple created one painting a day, for the next 5,000 days. He then combined all the paintings into one huge collage. Beeple began creating his work as early as 2007, only to sell it for $69 million in March 2021!
- ‘Clock’. Artwork created by digital artist Pak. Sold for US$52.7 million.
It is one of the more controversial NFTs. The work counts down the days of the imprisonment of Julian Assange – creator of the “WikiLeaks” website, which published top-secret information.
The purpose of creating this NFT was to raise funds to defend Assange himself. As many as 10,000 people joined forces and raised funds to purchase it. The donors supported Julian and now own small parts of this non-exchangeable token.
- HUMAN ONE. The work of Beeple, sold for US$28.9 million.
Another very interesting work by this artist. HUMAN ONE is a physical sculpture, completely placed in a digital environment. It is where, in the guise of an astronaut, a man moves through various landscapes and the environment itself changes over time.
This non-fungible token (NFT) was sold in November 2021 and subsequently displayed in various museums.
- CryptoPunk #5822, sold for US$23.7 million.
The avatar #5822 is an Alien, one of 9. What’s more, he wears a Bandana, meaning he is in the strict 481 of such CryptoPunks. And it is these two features that have made him so special. CryptoPunk #5822 was sold on 12 February 2022.
- CryptoPunk #7523, sold for US$11.75 million.
It is also an avatar from the Aliens collection, but its trump card is the medical mask, which only 175 such avatars have.
His type, of course, but it was mainly the attribute in the form of a mask that elevated him to a pedestal. The avatar was sold in June 2021, when the Covid virus was rampant. Masks were in vogue then.
- CryptoPunk #4156, sold for US$10.26 million.
And another in the Punks series! Its attribute – bandana. Interestingly, this non-transferable token (NFT), has changed hands very often. It is one of the most tradable tokens. It was sold on 9 December 2021, just 10 months after being sold for…US$1.25 million!
- CryptoPunk #5577, sold for US$7.7 million.
You will have noticed by now that the CryptoPunk collection is very popular. The attribute of this avatar, actually a monkey, is a cowboy hat. In the entire collection, there are only 24 monkeys and 124 Punks who wear the hat!
The monkey’s transaction date is February 2022.
- CryptoPunk #3100 sold for US$7.58 million.
And another CryptoPunk. The avatar is one of only 9 Alien CryptoPunk – which is why it is so valuable. It has one attribute, in the form of a headband.
- Crossroad, by Beeple. Sold for US$6.6 million.
When you look at this token, it looks quite unusual – like a scene from a game. However, the artwork is of great political and social significance. On it, we see a figure confusingly resembling Donald Trump (former US president). A bird sits on top of his figure and represents the clown emoji. Interestingly, the animation itself would have changed had the outcome of the 2020 US presidential election been different.
Other collections that have achieved spectacular sales include:
- All-Time High in the City, sold for US$6.20 million. It is an animation depicting a man crossing the Styx.
- FreeRoss, created by Ulbricht. The artwork was sold for US$6.12 million.
- Ocean Front – the work of Beepel. Sold for US$6 million.
- Ringers #879 – USD 5.9 million.
- CryptoPunk #5217, sold for US$5.44 million.
Summary
Despite the decline in interest, non-fungible tokens (NFTs) are still valuable and being considered. People are increasingly aware of the technology and the benefits of these types of tokens.
The possibilities of NFTs as to what we can create or sell with them are endless. Their concept is evolving over the years, which will lead to even more experimentation and innovation in the area of non-fungible tokens (NFTs).
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