Non-fungible tokens (NFTs) are changing the perception of art as a great treasure and its perspective as an emerging financial discourse. In the last few years, NFTs have gained prominence in the world of cryptocurrency, such that it is amassing huge investments from both crypto and art enthusiasts.
With cryptographically unique tokens, artists across the globe have been able to leverage the technological potential in generating real-world scarcity for digital assets. Also, NFT marketplaces like OpenSea and Nifty Gateway have experienced a remarkable trading volume in the wake of people’s curiosity about the new digital asset.
Top Popular Types Of NFTs
Art is the most common form of NFT. Originally, NFTs were designed as a means for artists to sell their best work online as if it were a real product. Even the most costly NFTs on the market right now are considered to be pieces of art in their own right. GIFs and video art are further examples of this.
Memes can be bought and sold on NFT marketplaces, but what makes them unique is that the person depicted in the meme is occasionally the real merchant. Some of the most popular memes are Nyan Cat, Bad Luck Brian, Disaster Girl, and others, with revenues ranging from $30,000 to $770,000. The Doge meme was the most expensive meme ever sold at $4 million.
Another frontier in the NFT space is video gaming. NFTs are not utilized to sell entire games. Instead, in-game items such as skins, characters, and other items are being sold. DLC assets can now be purchased in millions of copies, while an NFT asset is usually unique and exclusive to a single consumer.
The NFT also places a high value on music. For many decades, music has served as a fungible good, be it on vinyl, cassette, CD, or digitally. There has been an increase in the number of musicians and DJs selling their music as NFTs, making millions of dollars in a matter of hours. To keep as much of their revenues as possible, many musicians are resorting to NFTs.
5. Sporting Moments
Memorable sporting events are provided by NFTs, which have no physical counterpart. Historic sporting moments, such as game-changing dunks or game-changing touchdowns, are featured in these clips. These films can be as little as 10 seconds, but they can sell for as much as $300,000.
10 Most Expensive NFTs Ever Sold In 2022
This article aims to give an insight into the most expensive NFTs of all time at the time of writing.
1. The Merge: $91.8 Million
The Merge, an artwork by artist PAK, was sold for a record-breaking $91.8 million and allowed anyone to purchase masses that, as more people bought, formed part of the same artwork.
Jeff Koons’ 1986 sculpture Rabbit achieved a new record of 312,686 total mass units sold on Nifty Gateway in 2019 with 28,983 collectors purchasing the mass.
2. Everydays: The First 5000 Days: $69.3 Million
Iconic digital artist Mike “Beeple” Winkelmann created the sculpture for $69.3 million at Christie’s, which was a record-breaking sale for the auction house.
5,000 of Beeple’s earlier works were compiled into the NFT to exhibit his development as an artist throughout his life. Initially, Vignesh “Metakovan” Sundaresan kept his identity a secret but eventually revealed it.
3. Clock: $52.7 Million
The Clock is an NFT designed by artist Pak, who is known for his innovative token concepts and gamification in his previous NFT ventures.
The dynamic NFT shows how many days have passed since WikiLeaks founder Julian Assange was jailed. AssangeDAO, a cryptocurrency designed to raise funds for his legal defense, raised and bid just over 16,593 ETH ($52.7 million) to purchase the NFT.
4. Human One: $28.9 Million
While this isn’t the most expensive piece of art by Beeple, it’s one of the most unique. Like most NFTs, Human One is a hybrid design that combines physical and digital characteristics. Metal and mahogany wood combine to form a sculpture with a 16K resolution.
There will be a virtual avatar that will evolve on those screens.
5. CryptoPunk #5822: $23.7 Million
The sale of CryptoPunk #5822 for $23.7 million in ETH took place in February of 2022. Deepak Thapliyal, CEO of a cloud blockchain infrastructure company Chain, purchased one of just nine alien avatars in the entire collection.
6. CryptoPunk #7523: $11.8 Million
Also, CryptoPunk #7523 is a rare alien. Shalom Meckenzie, the largest shareholder of DraftKings, paid a staggering $11.8 million for it at Sotheby’s “Natively Digital” auction because of its medical mask attribute, which makes it particularly timely in current COVID-influenced times.
7. TPunk #3443: $10.5 Million
TPunks NFTs don’t cost a lot of money, but this one sold for a lot of money. Justin Sun, a co-founder of Tron, purchased TPunk #3442 in August for $10.5 million, or 120 million TRX.
8. CryptoPunk #4156: $10.26 Million
This was sold in December 2021 by a crypto-industry alias who came to popularity before abandoning his NFT identity, CryptoPunk #4156.
Beeple even used a picture of Punk 4156’s purchase of the NFT for $1.25 million ETH as the basis for an art piece, making him a household name in NFT circles.
9. CryptoPunk #5577: $7.7 Million
The second-highest CryptoPunks ape sale happened in February 2022, when 2,501 ETH ($7.7 million) was paid for CryptoPunk #5577. Compound Finance CEO Robert Leshner is rumored to have purchased this ape, who sports a sombrero, from a private collector.
10. CryptoPunk #3100: $7.58 Million
CryptoPunk #3100 is part of the 9 Alien Punks series, and it is the most expensive Alien Punk ever sold, trailing only CryptoPunk #7804. #3100 is a blue and white alien wearing a headband.
It’s worth noting that just 406 of the 10,000 CryptoPunks wear a headband. It was first released in 2017 and gained popularity following a $2 million bid in March 2021, when it was sold for $7.58 million that month. At the time of writing, the NFT is available for 35000 ETH, or more than $100 million.
There is no doubt that NFTs will continue to reshape the art world for years to come, thereby rewriting digital ownership standards along the way. Regardless of your perception of whether these computer-generated images are up to level with classics like the Mona Lisa, they have established themselves as a major player in the digital sphere.