Home
News
What was considered a frenzy initially has turned out to be a billion-dollar worth marketplace with tons of artists and users today?
For quite a while now, the crypto space has seen wide adoption and acceptance all around the world. With this, the nascent space of nonfungible tokens has also made its way and ended up in the mainstream, where they have made an overall valuation of more than $22 billion by the year 2021. Here mentioned will include the top five NFTs that are considered the most expensive, and along with their price and specification, there will be the reasons to figure out why they are too expensive.
What it would be if its not ‘CryptoPunk #5822’ –
CryptoPunk #5822 is a unique NFT part of the rarest possible skin with only about a 0.99% chance of having it. This is perhaps because these are attributes that made the prize of CryptoPunk go this much crazily high.
Considering the rarity and uniqueness of the non fungible token that has only one attribute where this one attribute belongs to only 2% of the whole collection, that makes it rare. This Ethereum blockchain-based NFT collection, CryptoPunk #5822, sold for about $23.7 million in February 2022 and is counted as the fifth most expensive NFT of all time.
Next one is ‘Human One’ –
Human One is a hybrid artwork that consists of both digital and physical approaches and was created by artist Beeple. This generative life sculpture has an astronaut wandering around the environment, constantly shifting.
As per Beeple, the most interesting feature of this NFT is that it can change, and he is going to update it with time so that it would not be static and relevant with time.
‘Human One’ became the fourth most expensive NFT in digital art history, selling for $28.9 million at Christie’s 21st Century Evening Sale on 9th November 2021.
Time to tick the ‘Clock’ –
The backstory of the Clock NFT is quite interesting and unique as the NFT itself. The reason to create this non fungible token was to raise funds that would be used for the legal defense of WikiLeaks founder and quite a controversial figure across the world, Julian Assange, when he was imprisoned in May 2019.
This digital artwork piece acts like a clock that counts the days Julian Assange spent in jail. Ultimately, AssangeDAO purchased the NFT, a community of more than 10,000 people who pooled their money and bought the NFT to support Assange. The ‘Clock’ that anonymous artist Pak created was sold for $52.7 million in February this year, making it the third most expensive NFT.
ALSO READ – This School In China Ramp Up Efforts To Expand Use Of Digital Yuan
You’ve heard it right; it’s ‘The First 5000 Days’ –
In 2007, artist Beeple took a pledge to create one art piece every day, and the NFT that he created after it is the college with the same 5000 pieces he made. This Non Fungible token is unique considering this fact and the fact that the individual artworks of Beeple themselves are expensive and top-notch.
The NFT sold for about $69.9 million to Vignesh Sundaresan, known by his pseudonym MetaKovan. This huge amount makes it the second most expensive nonfungible token that has been sold to date, and in terms of the sole owner, it becomes the most expensive of all.
The first one is ‘The Merge’ –
The NFT consisted of a picture with large masses of white dots on a black background that had about 312,686 units of mass that were every single unit of NFT was sold to 28,983 collectors. The initial price of these NFT units was $575, which went on to increase by $25 after every six hours. As more buyers kept coming, the larger the mass would become, and soon enough, the token supply started decreasing following its built-in scarcity mechanism.
The NFT created by artist PAK named ‘The Merge’ is the most expensive nonfungible token sold for about $91.8 million on Binance based NFT marketplace, Nifty Gateway, on 2nd December 2021.
What’s more, for the Non Fungible tokens –
Undoubtedly NFTs are becoming more influential day by day and might make more sense in upcoming times. Who knows the prices we are seeing today as huge amounts of money being followed in NFTs, making them expensive, would be beaten out by upcoming and more expensive ones.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
