Introduced in 2015, NFTs were a catalyst for the dawn of Web 3 market. Despite the fact that NFTs have been around since at least 2021, this year has marked their breakout into the mainstream.
Non-Fungible Token is an abbreviation for this. These digital assets are essentially tokens that may be traded on markets and kept in the Blockchain’s decentralised ledger.
We’ll go over the top 10 most costly tokens and a new high-growth NFT that we think early investors in now might see big returns on later. The process of purchasing NFTs is also something we will walk you through. To that end, let’s not waste any time and get started.
The 10 Most Expensive NFTs Ever Sold
As was previously mentioned, some NFTs are selling for hundreds of thousands of dollars, if not millions. The enthusiasm and involvement of the project’s community is largely to blame.
The typical process for new projects is to build a following on social media and messaging platforms like Discord before offering investors the chance to buy a portion of the token supply.
Large projects of interest in a project cause the market to react by driving up the price. Successful projects that follow this procedure typically attract large sums of investment from early backers because of the high returns on their investments.
1. The Merge
The most expensive NFT ever sold was Pak’s ‘The Merge’ The $91.8m price tag was a record for a living artist’s work. Nifty Gateway sold 28,893 collectors 312,686 mass (which were single NFTs). Starting price of $575 rose by $25 every six hours.
The NFT has three white dots on a black backdrop. With more mass buyers, their mass grew. NFT includes a built-in scarcity mechanism that reduces token supply over time. Each sent Merge token merges with the receiving wallet’s token, creating a single token with a higher mass value. This may lead to one final mass over time.
There’s a built-in leader board for NFT holders to track other collectors’ mass. The top 100 and top 5 on the leaderboard will get style classes. The top collector gets Alpha class, the highest tier.
This dynamic set-up of the NFT sets it apart from other collections and is likely why it sold so well. It’s debatable whether this is the most expensive NFT ever sold, considering it was funded by approximately 30,000 people. Either way, it’s the most expensive NFT ever sold.
2. The First 5000 Days
Like many of Beeple’s NFT projects, The First 5000 Days has been a commercial success. As part of his Everyday’s project, Beeples assembled this mosaic of 5,000 NFTs. In 2021, it fetched a record-breaking price of $69 million, or around $42.329 million in Ethereum.
Vignesh Sundaresan, a programmer located in Singapore, bought the NFT; he is a successful investor in the crypto markets. He created the Metapurse NFT initiative and goes by the internet alias MetaKovan. To the best of our knowledge, this NFT has the highest price tag of any NFT offered to expensive investors.
At this time, the artwork can be shown at a virtual gallery somewhere in the Metaverse. If you’re interested, you can check this out by using any online browser!
The history of the third most expensive NFT ever sold is a little out of the ordinary. After Julian Assange’s controversial arrest in May 2019, it was established to collect donations for his legal defence.
Due to his ties to the website he co-founded, WikiLeaks, Assange is currently incarcerated on espionage accusations brought by the United States government. The NFT is nothing more than a clock counting down the days that Assange has been locked up.
Over 10,000 donors, who now all have a price of the NFT, contributed the $56 million needed to get the project off the ground. All of the money made will go towards the Wau Holland Foundation’s efforts to defend Assange.
The NFT was developed by a mysterious artist known only as “Pak.” The artist’s refusal to give interviews in which they divulge their name lends an air of mystery to the fundraising effort, which is appropriate given the nature of the organisation it supports. Many of his supporters are rethinking their positions on freedom of the press and Julian Assange as a result.
4. HUMAN ONE
Beeple also created the digital/physical art piece known as the human one. As part of Christie’s 21st Century Evening Sale on November 9, 2021, it fetched a record $28.9 million at auction.
This NFT is awesome since the artwork is always being updated. Even though Beeple doesn’t actually own the artwork, he has continued access to it and is able to make regular updates to it. The NFT itself shows a space travelling moving through a variety of environments, each of which is dynamic and changes over time.
Multiple people said that the piece was inspired by their attempts to create new forms and patterns by arranging multiple televisions in a single room. One of the most expensive NFTs ever made is the final product, which is completely unique.
5. CryptoPunk #5822
CryptoPunk #5822 sold for $23m, the most ever. NFT bidding and listing have been busy. Throughout the token’s lifespan, there have been bids over 1000 ETH ($3m).
The owner denied them all. 0xDeepak has also advertised it for tens of thousands of ETH. These listings haven’t materialised. The owner transferred the NFT to 7DDFFB 19 days ago and hasn’t listed it.
NFT has one rare trait. 2% of the collection has only one attribute, which is uncommon. Only 5% of the collection has the bandana. #5822 is part of the Alien skin, which is the rarest possible skin (0.09% probability). The CryptoPunk’s high price is due to its uncommon features.
6. CryptoPunk #7523
CryptoPunk #7523 is the second-most expensive NFT. $11.75m was paid. A wallet bid 20,400 ETH for it four months ago, which is almost $65m.
The bid was rejected. Pranksy’s 800ETH bid equivalent to $1.5m. Another bid was cancelled. These big bids show how much people value the CryptoPunk collection. The NFT possesses rare qualities. It’s part of the Alien sub-collection, which 0.09 percent of CryptoPunks share.
It has 3 qualities, which 24% of the collection has, and an earring, which 25% of the collection has. Rarer qualities include a knitted cap, which only 4% of the collection has, and a medical mask, which only 2% of the collection has. This NFT’s unusual attributes show its rarity.
7. CryptoPunk #4156
The seventh most expensive NFT ever sold was part of the CryptoPunk collection. 4156 was sold for 2500 ETH, or $10.26m, four months ago. #4156 was sold many times, unlike the preceding two CryptoPunks. Just over a year ago, it sold for 650 ETH, but the seller is certainly hating themselves for selling at this price. It was sold for 3.29 ETH a few months after it was coined nearly 4 years ago.
Considering the NFT’s scarcity, we can see why it’s so valuable. Bandana and Ape skin are its qualities. Only 5% of the collection has a bandana or Ape Skin. Ape is the second-rarest skin after Alien.
Only 2% of the collection possesses its one attribute. This NFT is rarer than its alien counterparts. When the value reaches a certain degree, investors seem to care more about the art’s appearance than its rarity.
8. CryptoPunk #3100
The price of CryptoPunk #3100 for 4200 ETH, or $7.67m at the time, made it the most expensive NFT in the collection. This record-setting sale was the only time #3100 has been offered for sale in the five years after it was first produced.
In addition, it has the rare Alien skin (present in only 0.09% of the total collection, as previously noted). Possibly the most important aspect influencing the token’s price. It also features a headband, a feature seen on only 4% of the entire collection.
At last, it lacks all but one of the collection’s attributes. Once again, the high value of this NFT may be traced back to the combination of its several rare characteristics.
9. CryptoPunk #7804
This collection includes the tenth most expensive NFT ever sold. Using the Ethereum distributed ledger, the CryptoPunk project has amassed a collection of 10,000 distinct symbols. Having a CryptoPunk is a highly sought-after possession because no two are alike.
The initial supply of CryptoPunks could be mined by anyone with an Ethereum wallet for free. Many of the features included in CryptoPunk #7804 are unique to this particular card and are not found anywhere else in the collection.
For instance, it is adorned with “Alien” skin, of which just 0.09 percent of the whole collection consists. Moreover, it features a Pipe, which is present in only 3% of the total collection. This item is even rarer than usual because just 4% of the collection has the Small Shades option.
Finally, barely 3% of the group possesses the Cap Forward collection. Due to its exceptional rarity brought about by the aforementioned factors, CryptoPunk #7804 has been included in our list of the top 10 most expensive NFTs.
Since it was first minted more than four years ago, #7804 has never been sold for less than $6.6 million. We think a return on investment of a free mint to more than $6 million is reasonable.
10. Beeple’s Crossroad
At the time of its sale, the most expensive NFT ever was Beeple’s “Crossroad.” On the Nifty Gateway of the NFT Exchange, it sold for $6,6,000,000. To represent Trump’s 2020 electoral defeat at the hands of Joe Biden, the sculpture depicts a mournful figure lying on the ground.
Cool thing about the NFT was that it was traded prior to the election and would adapt to the results. Beeple has won several awards for his artwork, and he has over 1.8 million followers on Instagram.
He also has worked on several high-profile projects with companies like Nike and Louis Vuitton. The fact that Beeple is also responsible for the design of our fourth most expensive NFT, HUMAN ONE, speaks something about his influence.
The NFT is a one-off device. These features set it apart from other famous collections, such as Bored Ape Yacht Club (where the most expensive NFT sold for $2.3 million) and CryptoPunks.
Because of its expensive and special qualities, it cost a pretty price. Current asking price for Beeple’s Nifty Gateway floor stock is $63,000.