NFTs first became a thing in 2015 and have since continued to gain momentum, following an overwhelming interest in web3 activities. Even though the idea for NFTs has been around for some time, they exploded in 2021.
For those new to NFTs, it simply means Non-Fungible Token(s). NFTs are essentially tokens, most notably art, which are traded and stored on exchanges and on the blockchain.
In today’s guide, we will look at some of the most expensive NFTs and provide details about how NFTs can yield amazing returns to early investors. We will also use the opportunity to show you how you can easily buy NFTs. So, let’s cut to the chase and bring you all the juicy details.
The most expensive NFTs to ever be traded
As we mentioned right from the get-go, with the skyrocketing demand for NFTs, it’s now common to see NFTs sell for hundreds to millions of dollars. The common reason for this is mostly because of the hype, promotions, and community backing a project.
Most NFTs kick off by launching a community on social media, notably Discord. They invest heavily in promotions even before allowing investors to purchase their limited edition NFTs. Once a project is able to stook investors’ interest, the basic forces of demand and supply kick in, pushing the price of these NFTs to unimaginable heights.
Top Recommended Platforms
Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Any project that gets this process spot on will often enjoy unprecedented returns on investment, leaving early investors happy.
Here is a list of some of the most expensive NFTs
- The Merge
- Clock
- Crossroad
- The first 5000 days
- CryptoPunk #5822
- Human One
- CryptoPunk #3100
- Cryptopunk #4156
- CryptoPunk #7523
- CryptoPunk #7804
An overview of the most expensive NFT art
Having provided you with a list of some of the most expensive NFTs ever sold, we want to use this opportunity to take a closer look at each of these NFTs. To understand what’s driving the prices of these NFTs, we will look closely at the community behind each project, their rarity, and the uniqueness of their NFTs. For instance, projects like CryptoPunks have generated a massive following thanks to their army of community collectors.
With the astronomical rise in popularity of NFTs, it’s no surprise to see the prices of NFTs soar. Some of the popular NFT projects have capitalized on the skyrocketing demand for NFTs to sell their projects for hundreds to millions of dollars.
Today’s post aims to highlight the most expensive NFTs sold. Let’s jump right in, shall we?
The Merge
The Merge is the most expensive NFT to ever be sold. Pak’s The Merge, one of the collections from the Merge NFTs, sold for a whopping $91.8m, earning its place as the most expensive artwork to ever be sold publicly by a living artist.
The Merge NFTs were sold on the Nifty Gateway. These NFTs attracted the interest of 28,893 collectors who purchased nearly 312,686 units of the mass. The starting price of these NFTs was pegged at $525. But an increase of $25 every couple of hours set the stage for an unprecedented run in price.
The first 5000 days
The First 5000 Days is one of the highest-grossing NFT projects. This NFT project featured a collage of 5000 individual NFTs that Beeple created for his Everyday series. This NFT sold for an incredible $69 million, which is the equivalent of 42,329 ETH.
The NFT was auctioned to Singapore-based programmer Vignesh Sundaresan, a crypto investor who has made an insane amount of money investing in different NFT projects. Besides investing in different NFT projects, Vignesh Sundaresan also founded an NFT project named MetaPurse NFT, which went on to do well.
The First 5000 Days is the most expensive NFT ever sold to an individual investor.
The artwork is currently being displayed in an online gallery in the metaverse. This can be accessed via a web browser if you want to check it out!
CLOCK
Clock is the third most expensive NFT to be ever sold. And to be honest, it has a slightly unconventional origin. This project was launched to raise funds for Julian Assange’s defense following his controversial imprisonment in May 2019.
Julian Assange is currently being tried for treasonable offenses against the US government following his activities on WikiLeaks.
The NFT itself looks somewhat like a clock. It depicts the number of days since Assange has been imprisoned.
The CLOCK NFT sold for a whopping $56m. The money was raised by over 10,000 supporters. Plus, 100% of the proceeds were used for Assange’s defense.
HUMAN ONE
Human one is another incredible NFT project designed by Beeple. This project is unique in many ways and sold for a record $28.9 million. This NFT project was first auctioned as part of Christie’s 21st Century Evening Sale on the 9th of November.
While Beeple doesn’t own the art itself, the team behind Beeple retains remote access to the NFT and updates it constantly. The NFT depicts an astronaut walking through different backgrounds. What’s unique about this NFT is that it featured a background that changed over time.
Experts say the idea of this project came from combining multiple TVs into different shapes and patterns.
CryptoPunks #5822
CryptoPunk #5822 is one of the highest-grossing CryptoPunk NFTs to be ever sold. This NFT project raked in an astronomical $23 million. What has driven the value of this NFT is the huge bidding war and listing activity around this project.
There have been multiple bids for this project for up to 1000 ETH throughout its NFT lifecycle. Also, the owner of CryptoPunk has listed these NFT collections for thousands of ETH.
What makes this CryptoPunk NFT rare is its unique attribute. Just so you know, only 2% of this NFT collection has that signature bandana feature. This has driven the price to insane levels.
CryptoPunk #7523
This is the second most expensive CryptoPunk NFT ever sold. When this NFT first launched, it sold for a whopping $11.75m. What’s even more exciting is that there was a recent bid of over 20,400 ETH for this NFT, which would have seen the price rise to $65 million. Unfortunately, the bid was canceled before it was accepted.
Other popular bids for this NFT include an 800 ETH bid from Pranksy, which equated to a meager $1.5 million. Like the other bid, this bid, too, was canceled. This huge bid for this NFT underscored just how valuable it is.
CryptoPunk #7523 has a number of rare features. First, this NFT is part of the Alien sub-collection. Just so you know, only 0.09% of CryptoPunks have this uniqueness. Its most unique traits included a knitted cap, which only 4% of the collection has. With the abundance of rarity that this NFT has, it’s easy to see why it has continued to increase in value.
CryptoPunk #4156
This NFT was part of the CryptoPunk collection and was sold for a staggering 2500 ETH, equivalent to $10.2m. It earned its spot as the seventh most expensive NFT to be ever sold. Unlike the other CryptoPunk NFTs we reviewed earlier, this particular NFT has been sold a number of times. Just over a year ago, this NFT sold for 650 ETH.
Looking at the current price of this NFT, the seller would be regretting selling it for that price. Nonetheless, also keep in mind that CryptoPunk #4156 sold for only 3.29 ETH four years ago.
A look at its rarity features shows why this NFT is highly valued. For starters, this NFT has a Bandana and Ape Skin. Unsurprisingly, only 5% of the collection has the Bandana trait. Similarly, only 0.4% have the Ape skin feature. These unique rarity traits have continued to push the value of this NFT to record highs.
Beeple’s Crossroad
At the time this NFT first sold, it was the highest-grossing NFT to ever sell. Crossroad by Beeple sold for an incredible $6.6 million on the NFT exchange Nifty Gateway. A close look at the NFT shows a solemn figure lying around on the ground. The image presented symbolized Trump after he lost his reelection bid to Joe Biden. What’s unique about this NFT is that it was sold before the election and is designed to change based on the election outcome. How cool can that be?
Just so you know, Beeple is an award-winning artist with an army of followers across different social media platforms. The artist has collaborated with many notable brands, including heavyweights like Nike and Louis Vuitton. It’s also worth mentioning that the fourth most expensive NFT, HUMAN ONE, was also designed by Beeple, a clear testament to his popularity in the NFT space.
CryptoPunk #3100
CryptoPunk #3100 ranked as one of the highest-grossing NFTs from the CryptoPunk collection. This NFT initially sold for 4200 ETH, equivalent to $7.67m. And it’s important to note that this was the only time the NFT was sold since it was first minted a couple of years ago.
One of its most iconic rarity features is its Alien skin feature. And as we mentioned earlier, this feature is only available in 0.09% of the collection. Its rarity feature is one of the biggest factors fueling its value. In addition to spotting an Alien skin, this NFT also has a headband, a rarity feature only found in 4% of the collection.
CryptoPunk #7804
CryptoPunk #7804 is the ninth most expensive NFT from the CryptoPunk collection. It would be recalled that the CryptoPunk NFT project had 10,000 unique characters, all stored on the Ethereum blockchain. What makes CryptoPunk NFT collections unique is that no two CryptoPunks are the same. This has significantly pushed its value higher.
When CryptoPunk initially launched, it was entirely free to mint for users with an Ethereum wallet.
CryptoPunk #7804 has some of the most iconic rarity traits we have seen in the whole CryptoPunk collection. For instance, it has the Alien Skin feature, which only 0.09% of the collection has. It also has a Pipe, which is only available in 3% of the collection.
Another special rarity trait accompanying this NFT is the Small Shades feature, which only 4% of the collection has.
In terms of pricing, this NFT sold for $6.6m. Plus, it was the only time this NFT has been sold since it was minted over 4 years ago.
In a nutshell
The NFT space has generated a lot of buzz since it exploded in 2020. In today’s guide, we were able to explore some of the most expensive NFTs to ever be sold. If you have read to this point, you’ll notice that the CryptoPunks NFT collection dominated our list because of the hype the project generated.
Even though most of the NFTs featured on our list are too expensive, and beyond the reach of many NFT enthusiasts, there are many good NFT projects out there with a lot of potentials.
Although the current bearish market has suppressed the price of many NFTs, there are a lot of signs that the NFT space will boom in the future, so feel free to key in now to enjoy amazing dividends in the future.
That said, please ensure you do your due diligence before investing in any NFT project, as the space is swamped with many fraudulent projects.
