NFT prices tend to leave many people scratching their heads due to how absurdly high some of these digital collectibles can sell for! It cannot be denied that NFT prices are not as high as they once were, with general trading volumes having dropped substantially.
Have you ever thought about what the most expensive NFTs are? They are notoriously expensive, but even some of the ones we have listed surprised us while we were writing this article.
When such a new asset class as NFTs goes for so much, heads turn and explanations are required…
By now, people are aware that NFTs can be quite expensive, that’s what makes them what they are. An exclusive, non fungible digital item that can only be owned by one person is, of course, going to be bought for a ridiculously high price once the right buyer is found.
It is never truly a mistake when an NFT goes for millions of dollars on Blur or OpenSea. Although there have been times when people have sold valuable NFTs for way under their market value, that is definitely a mistake.
Usually, an NFT is worth so much for a number of reasons. For example, a CryptoPunk is worth so much because it is one of the earliest NFT projects and has become a staple collection known across the whole of Web3.
Other NFT collections may be expensive because a recognizable celebrity or brand has released them. Having a face behind the NFT creates a lot of hype online and may even onboard new Web3 users onto the blockchain.
An NFT can also possess value outside of the metaverse and be used to access things in the real world. For example, holding a BAYC NFT Ape gives you access to exclusive merchandise. Even NFT game collectibles go for a lot, specifically real estate on games like The Sandbox.
NFTs in the past two to three years have seen a considerable increase in both popularity and price on the NFT marketplace. It felt like only yesterday when I talked about the Metaverse and expensive profile pictures.
Have you ever wondered what the most expensive NFTs are? Read further down to find out.
@ Merge
Back in 2021, at the height of the NFT’s popularity, the most expensive NFT sale was recorded. It took quite a few people to band together to be able to afford this Web3 masterpiece.
30, 000 NFT fanatics made the sale happen at $91. 8 million! The NFT was made by Pak, who to this day has remained anonymous. Though it is common knowledge that Pak, formerly known as Murat Pak, is an avid crypto investor and also a programmer.
@ The First 5000 Days
Beeple is behind “The First 5000 Days,” which sold for $69.3 million. It is a collection of artwork from the renowned artist that was actually started all the way back in 2007, before Bitcoin was even created.
A total of 5,000 different pieces of artwork have been placed into this one NFT collectible. Thanks to Beeple being so established, this helped their NFT become one of the most expensive yet.
@ Julian Asange
Pak teamed up with WikiLeaks founder, Julian Asange to release ‘Clock”. Julian Asange, at the time of this NFT’s release, had been in prison. As a way to raise awareness, Pak released Clock, which showed how long he had been imprisoned for.
10, 000 people came together to buy the NFT. The funds that were raised were put towards the court fees for Julian Asange. This example shows the social impact that NFTs can have on individuals and narratives in society.
@ Human One
Beeple is again behind another top-selling NFT collectible. It is a 3D CGI video of a man walking in what looks like a space suit. It is a dynamic art piece that changes its appearance.
What makes it interesting is the fact that it includes both physical and digital aspects to produce the finished product. The character is dubbed the first person in the Metaverse.
“I am excited to explore concepts through this artwork that tap into the full potential of the medium of digital art in a way that has never been done, with its unique potential to dynamically change over time.”
@ CryptoPunks
It wouldn’t be an NFT explained list without the mention of a CryptoPunk. They were first made in 2017 by Larva Labs. 9000 of these NFTs were given away for FREE. Crazy to think a free JPEG file made someone a millionaire twenty-three times over!
CryptoPunks are a staple NFT collection and have even been picked up by celebrities. Some of them include Selena Gomez, Logan Paul and Jay-Z, to name a few. CryptoPunk #5822 is the most expensive CryptoPunk, do you think we will see a new one take its crown if there is another NFT Bull Market?
You must admit that it is impressive that NFTs are able to sell for the prices they do, especially the ones we have listed above.
NFTs can be released as stand alone releases or as long standing collections that have multiple entries.
Some of the most popular NFT collections include:
While the examples we covered in this article will not be in everyone’s price range, the incentive for NFTs is definitely worth looking into.
NFTs as a whole are an interesting concept, and when matched with a cool piece of artwork or internet history, it is no surprise that there is so much NFT hype.
Will it return to its previous all time high prices? Who knows. We cannot see it happening. We also don’t have a crystal ball, so only time will tell!
If this is your first time reading about NFTs, why not check out our other content explaining NFTs and NFT games.
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