The 10 most expensive NFTs of all time | Via ChangeNOW.io | The Capital | July 2021
Soon after Bitcoin, it became clear that blockchain technology could be used for many purposes other than money transfer. If you can prove the ownership of your coins in a public immutable database, why not prove your ownership of other things? This is how NFT came into being-a cryptocurrency that can show you encrypted proof of possession of an artwork, a tweet or a video. The NFT boom reached its peak in March 2021-so now is a good time to summarize and see which are the most hyped and most expensive sales.
But first, let us remember what NFT is.
The key concept of NFT (non-fungible token) is fungibility-that is, two items of one type have the same value. For example, 1 U.S. dollar is equal to any other U.S. dollar, and they are interchangeable. The same is true for Bitcoin: if you buy 1 BTC on ChangeNOW, it will have the same value as the 1 BTC sent to you by your friend.
NFTs are still cryptocurrencies, but they are irreplaceable: each NFT is different from each other, and they cannot be exchanged equally. A picture, a text, a video, or a ticket-they are all unique, and you can hardly find two similar items in NFT.
Non-fungible tokens are stored on blockchains such as Ethereum, Binance Smart Chain, EOS and TRON, and traded on NFT markets such as Opensea or Rarible. ERC-721 and ERC-1155 based on Ethereum are the two most popular NFT formats. Since the blockchain is transparent and open, you can see all NFTs and even download digital copies of them, but only one digital address is the owner. It’s like the Mona Lisa: its original is owned and displayed at the Louvre, but you can find a photo of it on the Internet and print it out. There are works of art, text, videos, game characters, tweets, and various collectibles in NFT.
NFTs can be unique (such as Beeple’s “Everydays”) or a complete set of them (such as 10,000 CryptoPunks). As with any other token, you can send the NFT to any address on the same blockchain, and the address will be reflected in the public database. However, you cannot send part of it: unlike regular tokens, NFTs are indivisible.
One of the earliest examples of NFT is CryptoKitties. They were launched in 2017 in a rush: thousands of users bought, cared for and breed unique virtual kittens, which caused serious congestion on the Ethereum blockchain.
A lot of progress has been made since then. The ERC-1155 format appeared: it allows you to combine fungible and non-fungible assets on a smart contract. It is suitable for many games: the format allows for unique items such as characters, weapons or plots, and alternative items such as money or gold.
Since 2017, there have been many blockchain and NFT-driven games: Decentraland, Gods Unchained, Sorare, F1 Delta Time.
NFT opens up many opportunities created by digital ownership:
- Artists can create digital masterpieces and reach a wider audience that monitors the NFT market. By selling their works in a peer-to-peer manner, they returned the value that was previously withheld by the centralized platform.
- Buyers obtain publicly provable ownership of the masterpiece, which gives them a unique sense of participation.
- For investors, NFT is another attractive capital multiplier tool.
Sold on February 22, 2021, USD 1.05 million
CryptoPunks is an outstanding collection of 10,000 NFTs, 5 of which are in the top 10 most expensive NFT sales and appear on our list. CryptoPunks was launched earlier than CryptoKitties-in June 2017, Matt Hall and John Watkinson founded Larva Labs and launched this set of pixel characters. They don’t all look like punk, but they are all weird enough. At that time, they were given away for free. Soon, the transaction began, and the first batch of buyers paid their cents and U.S. dollars to get CryptoPunk. Today, this is a million-dollar industry.
Cryptopunk#6487 It is the 10th place on our list, and the price is slightly more than $1 million. It is one of the 3840 female punks. Apart from being completely bald and wearing red lipstick, there is nothing special about it.
Sold on February 18, 2021, USD 1.25 million
Cryptopunk#4156 It belongs to the category of Ape CryptoPunks, there are 24 in total. 4 CryptoApes is usable On sale now, the most expensive price is 22.92 million US dollars-probably much more expensive than #4156! Another Ape in the series appeared on our list-#6965 was sold at a “slightly higher” price of 1.54 million USD.
Sold in March 2021, USD 1.33 million
This is a pretty multifaceted NFT. First of all, this is a sound art work created by DJ Justin Blau, called 3LAU.Secondly, there are Animation Designed by a digital artist named Slimesunday. Together they organized an auction where the highest bidder could name the work. Gunky’s Uprising is the name of this work.
Sold on February 9, 2021, USD 1.5 million
In 2020, land sales in the virtual world accounted for 40% of all NFT sales. This time the bid is the largest-Genesis Manor was sold for US$1.5 million as the “Epic 9-Plot Genesis Manor” in the Axie Infinity game. This Ethereum-based virtual fantasy game allows users to raise and fight with Axies characters who own the land. This #7 target is a strategic location with a good view.
Sold on February 19, 2021, USD 1.54 million
This Cryptopunk 6965 The hat with the old-fashioned brown fedora comes from the apes you are already familiar with. His tired expression implies that he was not impressed by the crazy NFT boom, but it didn’t stop him from being sold for $1.54 million. In addition, this is his 4th auction since 2017. In May, he got another offer, this time for $7.22 million.
Sold on March 22, 2021, USD 2.91 million
In 2006, in the early days of digital entrepreneurship, Twitter CEO and founder Jack Dorsey (who later became a Bitcoin communicator) wrote his first tweet.After sale Valuable objects In the NFT market, this tweet has not yet become a cryptocurrency, and its buyers have not obtained the rights of the author. Purchasing the first tweet gave people a unique sense of participation and helped raise funds for charity-the $2.99 million paid by Sina Estav, the CEO of the Tron-based Oracle system, was later donated to projects in Africa. Interestingly, TRON founder Justin Sun (Justin Sun) had previously bid 2 million US dollars.
Sold on February 25, 2021, USD 6.66 million
These 10 seconds video Announced by Mike Winkelmann (better known as Beeple), soon after, the news of Donald Trump’s final defeat in the US presidential election became apparent. It depicts the naked body of the defeated former president lying on the ground with curse words written on it. Twitter Bird sat on it, sending a clear message. It doesn’t matter to passers-by.
Interestingly, if Trump wins the election, another version of this artwork is prepared for this case. If this happens, the token will change: Trump will wear a crown through the flames. This will never happen now.
Sold on March 11, 2021, USD 7.57 million
The second most expensive in history, Cryptopunk 7804 It is one of nine alien punks, wearing a hat, sunglasses, and holding a pipe. We don’t know when the alien had this skin color, but it helped him sell for more than $7.5 million. The product was sold for the first time in January 2018 for $15,000.
Sold on March 11, 2021, USD 7.58 million
Another kind of alien punk is also the most expensive punk in history. Cryptopunk 3100 Wearing a headband, it looks like he doesn’t know what he is doing on this list. One month after casting, #3100 was sold at a price of US$2,127, and the first bid was only US$76. Pretty good investment, isn’t it?
Sold on March 11, 2021, US$69.3 million
The sign of 2021 is the acceptance of cryptocurrencies and NFTs by conservative institutions such as auction houses. “every day“Is the most expensive NFT sold by Christie’s auction house: it brings together 5,000 digital art works created by Mike “Beeple” Winkelmann every day since 2007. The image reflects the evolution of the art of Beetle. Buyer, Indian cryptocurrency Fan Vignesh “Metakovan” Sundaresan stated that he will pay a higher price for this work: the act of buying it made him part of the artistic cognitive history revolution.
NFT is a new term in the art world and in the field of digital ownership. For artists, this is a great tool to share their work with the audience while maintaining total income, while for owners, NFT encrypted tokens empower them to say: “Yes, anyone can Seeing and downloading this project, and I only enjoy the fact that the original belongs to me-you can check it on the blockchain.”
Today, the NFT market with collectible visual items is a million-dollar industry. Together with the plots in the digital game, as of today, images account for more than ⅔ of all NFT sales. However, NFT technology may have more applications, including event tickets, digital rights, domain names, etc. They are now in their infancy and will show us in the next few years whether NFT will unleash its potential or will stay in the field of games and digital art.