The crypto industry saw NFTs explode onto the scene back in 2020 and continue to gain momentum ever since. So much so, that the global NFT market is expected to be worth $21.33 billion this year.
Ready to dive in?
Here are the top 9 most expensive NFTs ever sold (at the time of writing):
One of the artist’s earliest works, this piece was created in 2018 but sold in 2021 for a whopping $6.034 million.
This short, 10-second movie by highly respected NFT artist Beeple was resold for more than 100 times its original price in 2021.
One of the only 9 “Alien” punks in the CryptoPunk collection, this pipe-smoking character sold for an incredible $7.57 million last year.
Just one day after #7804 sold, another of the 9 Alien punks, #3100, went for an even more impressive $7.67 million. This one, which sports a headband, is apparently the seventh rarest in existence.
Up next is yet another punk. This one wears a bandana and is one of just 6039 male punks out there. The third rarest in the CryptoPunks collection, it sold for an unbelievable $11.75 million last year.
The last of the CryptoPunks, #7523 is in a league of its own. Another of the 9 Alien punks, this one sold earlier in the year for an eye-watering 800 ETH (worth approx. $23.7 million at the time). That’s almost twice as much as the second most expensive CryptoPunk.
Finally, a non-CryptoPunk NFT! This dynamic NFT counts the number of days WikiLeaks founder Assange has spent in prison. It aims to raise funds for his legal defence and was won in an auction by a group of 10,000 of his supporters known as AssangeDAO. It sold for a massive $52.7 million earlier this year.
This artwork by Beeple is a collage of 5,000 pieces. He created one piece every day since 2007, and his efforts resulted in the most expensive NFT ever sold to one person - it went for a mind-blowing $69.3 million last year.
The most expensive NFT ever sold, this artwork went for a record-breaking $91.8 million late last year. It was sold to a group of 28,983 contributors in an “open edition” - the opposite of limited edition, in which buyers can purchase any number of tokens within a set timeframe.
You can take a look at all of these NFTs here. Which ones are your favourites?
In terms of popularity, digital art works the same way as real-life art – its price is dictated by the fame of its artist.
Another factor which influences its price is scarcity. Both of these come into play with CryptoPunks - their celebrity grew as more and more people (and big players like Visa) purchased them, and there will only ever be 10,000 of them.
In short, the more attention the punks got, the higher their value rose, which drove their demand and fuelled FOMO. You can find out more about them here.
Disclaimer: this article is for educational purposes only and should not be taken as financial advice.