Non-fungible tokens or NFTs are changing the way we think about art, and an increasing number of investors are beginning to notice the recognition of this new technology. Over the past year, NFTs have been at the forefront of the crypto space. Cryptographically unique tokens allow for the creation of real scarcity of digital objects, and artists have seized the opportunity that the technology provides.
In 2021, there was a significant surge in interest around NFTs, with Google searches for the term reaching their highest numbers ever, and NFT markets like Nifty Gateway and OpenSea recording record trading volumes as more individuals and companies seek to grapple with this new asset class. But it’s not just interest that is increasing. Individual NFTs are selling for enormous sums of money, and artists like Beeple are recording record sales. With that in mind, let’s take a look at the ten most expensive NFTs ever sold.
1. Everydays: The First 5000 Days: $69.3 million
The currently most expensive NFT ever sold (and one of the most expensive artworks ever sold) is called Everydays: The First 5000 Days. The artwork, created by renowned digital artist Mike 'Beeple' Winkelmann, was sold for $69.3 million through the British auction house Christie's, marking the first time a prestigious auction house has ever sold a purely digital artwork.
The NFT represents a collage of 5,000 of Beeple’s earlier artworks, showcasing his development as an artist throughout his career. It was purchased by Vignesh 'Metakovan' Sundaresan, who initially remained anonymous but later revealed his identity.
– The point was to show Indians and people of color that they can also be patrons, that crypto is an equalizing force between the West and the rest, and that the global south is rising – explained Metakovan.
The second highest bidder was none other than Tron’s CEO and founder Justin Sun, who offered $60.2 million before Sundaresan outbid him at the last second.
2. CryptoPunk #7523: $11.8 million
Start getting used to seeing these pixelated characters, CryptoPunks, which make up numerous expensive NFT sales. They are a randomly generated set of 10,000 unique digital characters and are among the first examples of non-fungible tokens released on the Ethereum blockchain. They were developed by Matt Hall and John Watkinson from the American game studio Larva Labs. Initially distributed for free, some CryptoPunks with particularly rare or desirable features have continued to sell for significant amounts.
This particular one, CryptoPunk #7523, has several such attributes, being one of only nine Alien punks. Its medical mask attribute also gives it unique relevance in these COVID-impacted times, and is one of the reasons it was snatched up at the Natively Digital auction at Sotheby's for an incredible $11.8 million by DraftKings’ largest shareholder, Shalom Meckenzie.
– I really wanted this CryptoPunk. It’s part of the alien collection, which is the rarest and the only alien that has a mask. I thought it was a symbol of COVID and the popularization of NFTs – stated Meckenzie.
3. CryptoPunk #7804: $7.56 million
Dylan Field, CEO of design software company Figma, is behind the sale of the third most expensive NFT in history. The NFT was sold for 4,200 ether in March 2021, worth $7.5 million at the time. One of only nine alien CryptoPunks, it also has three accessories, a beret and a pipe (it is the only alien CryptoPunk that has a pipe or beret).
4. CryptoPunk #3100: $7.51 million
Another alien punk, CryptoPunk #3100, wears a headband and was sold for 4,200 ether ($7.51 million) in March 2021.
5. CROSSROAD: $6.66 million
CROSSROAD is an NFT also created by renowned digital artist Beeple. It features anti-Trump messages and an enlarged figure resembling Donald Trump lying in a defeated pile with expletives written across his naked body. It didn’t always look this way; the artwork was designed to change based on the outcome of the 2020 election. Had Trump won, it would have depicted him wearing a crown and walking through flames.
